Hedgey RPGF grants final project updates

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What does the product/idea look like today? Share videos, images, demos, and anything else that helps people see what you are working on.

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Note that the accessories in the above image are just clip-art place holders. We will be commissioning artists to make accessories for Base Mainnet launch.

Tell us about any traction / adoption you’ve had over the last month.

  • We just got our testnet up today but we have been talking with many members of the Degen DAO on Warpcast and have buy-in from over a dozen members to test!

Is your product Optimism/Superchain native and will it continue to be?

  • Yes on Base, that’s why we are Based Derivatives!

How will your product/idea move the Optimism ecosystem forward?

  1. This is an art piece that incentivizes artists to create accessories. We foresee using some of the OP from this grant to commission artists. The royalties are paid to whatever wallet owns the accessory NFT. So artists have two options, they can keep their art and collect royalties or auction it off and the buyer receives royalties. We think this can have a similar but much much smaller impact than the “We Love The Art Competition.”

  2. We are members of both the Degen DAO and the Yellow Collective. Base →D[erivatives] will be an amazing way for these DAOs to engage their members and we will be reaching out to other DAOs as well. Our contracts don’t have to charge a royalty and can use a gating feature instead. So for example, a DAO could have their token gate if a user can access an accessory.

  3. This is a persistent living art project that explores provenance. Users can also edit the original image that was used to mint the derivative NFT. For example, if someone buys a derivative NFT from OpenSea, they will need to replace the original NFT image with an NFT that they own. Eventually our Dapp will track all of these changes for all NFTs.

What’s the big vision of your product/idea beyond what it is today?

This will be the first living NFT art project on Base. We want to onboard as many DAOs as possible and commission dozens of artists. Users will be able to remix their NFTs and all changes will be captured on blockchain forever.

If you win, how will you use the funding?

  • We would be able to start working on this full time to have a production ready version at the end of three months.
  • Several grants for artists to make accessories
  • Software costs (e.g. we want to explore AI animated derivatives)

If you win, what are you focused on over the next three months? What do you want to accomplish?

  • Full launch of Based Derivatives
    • Provenance Feature - show exactly how the NFT has changed over time
    • Partnership with artists & DAOs
    • Polished IPFS front end
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