[READY][GF] [Phase 1 Proposal] NFTEarth - NFT Marketplace

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this is very good nft,better than qx

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Excuse me ? This type of commentary is not necessary here on the governance forum.

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The exchange is quite good, the fee is cheap

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Hey this is Doug from growth council, throughout the application process, this forum thread will be one of the official means of communication. Please be sure to monitor it for updates over the course of the review period. As a personal suggestion can you revise your distribution plan to include all intended initiatives as “and more” is quite vague. you are also missing the critical milestones portion of the form.

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Hey @MoneyManDoug the proposal has been updated per your suggestions! Cheers!

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Hello and thank you for your proposal! Your application is currently incomplete because you are missing the critical milestones. Please see the proposal template here and resubmit for the next cycle.

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Hi Katie, could you please elaborate on this a bit more? We have completed this as requested a few days ago!

@MoneyManDoug had reached out about this - and the proposal was adjusted to reflect these milestones and was completed right away!

Thank you,

Weston

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I see that, sorry!

Can you clarify how this would be measured?

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Yes of course!

So regarding measurement - this is something we have thought about at length.

The short answer, is a combination of new users + overall growth of volume in $USD terms from marketplace activity.

More detailed, this is something we have found difficult to ascertain the best metric for. Open to any and all ideas here as well! For some context though as to why it is difficult we started an XP Leaderboard campaign for the 2nd round of $NFTE airdrop season which we called “Quests”, and due to the nature of L2 costs being so much lower than L1, we found our algorithm for generating XP was heavily abused by bots/and or users simply doing tons of Txs.

So, we refined it to only include certain collections, overall volume, and added a constraint on the time period of offers and listings.

To tie this into a more specific measurement, we would target 50% of activity that OpenSea has been demonstrating within 2 months time.

And so for reference in our specific case, this would mean 15,405 wallets interacting with the marketplace on a 30 day time frame, within 2 months time. We think this is a reasonable and achievable goal based on the growth strategies we have in place.

Screencap of current NFT activity on OpenSea on Optimism from NFTScan:

I hope this is helpful and the kind of information you were looking for; please let me know if anything else would be helpful!

Weston

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That’s very helpful, thank you so much for your thoughtful response!

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Can you please share the analytics and distribution from the first grant with some charts on DUNE analytics for the rest of the Governance members to see?

What was the total impact of the previous grant that was received?

Hey @katie i’m not sure if you’re aware of the discourse that’s happening in the gov monitoring channel of the discord right now.

There seems to be some suspicious transactions that are linked to this project from grant money that was given to the layer 2 Dao.

As you can see here money was used to purchase NFTE tokens with USDC that was acquired from $OP tokens sold from the grant money that was distributed to the layer two DAO from OP foundation.

I would appreciate it if you and the other governance members would take a look into this for further investigation.

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Cool project , and it’s optimism native

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Also the team was able to just launch the first example of NFT marketplace NFT collection and staking the NFT for ERC-20 rewards now as well! Check out the live Pool on GYSR.io - Users can stake their ERC-721 NFT and earn an ERC-20 in the form of $NFTE tokens. So much potential use case for positive growth of the ecosystem with mechanisms like this!

Here is the GYSR Pool live: GYSR | Application

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I second this. The ongoing conversation on #gov-monitoring should be prioritized before any consideration is given.

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Also there are a lot of suspicious and obviously fake pro messages in this thread too.

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Since the NFT staking went live on Optimism ~6 hours ago, we already have 200+ NFTs staked! This is a remarkakle accomplishment for OP NFT ecosystem and just reinficmrces the believe I’ve had all along… there is huge demand and huge potential for NFTs on L2.

This result observed here @katie was highly unpexcpected ( in a positive way tho ) - but we can now actually begin talking about more full on real use cases for fNFTS, staked NFTS, and getting this all to L2. The implications for this are so massive we could come up with sozens of ise cases where NFT staking would benefit users and protcols!

I think most of us are on the same team here same; my only ask is to please keep these chats productive from everyone. We’re underfunded, growing rapidly, and need to stay focused to win. But I do sincerely believe we can not just compete with OpenSea, but beat them, on L2.

The future for NFTs on L2 is massive and wide open; now is the time to grant the rignt people, with the right strategies… the chance to soar.

I choose to stay Optimistic :red_circle:

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I think that it’s important to address the evidence in #gov-monitoring in the Optimism discord. As @FractalVisions has pointed out there is now on-chain evidence that NFTE has embezzled funds from OP Governance that were given to L2DAO. The OP was dumped for $NFTE tokens, as well as used to trade multiple collections in the marketplace. There are also direct ties to your own wallet. This violates the no-sale rule, and is also a form of financial fraud. It’s fair to assume that any OP given to this project will be market sold.

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Examples of wash trading by the applicants own wallet.
(Most of the exchanges volume)

westonnelson.eth

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