WAGDIE

ABSTRACT Develop a panel of talented and trusted artists within the WAGDIE community that will control a wagdiearts.eth address and deploy a special ERC-1155 contract that can house mints of panel-approved artworks to make available for sale under as an “official” derivatives collection shared by all artists within the project.

MOTIVATION As more artists continue to create works based on the WAGDIE property, they are forced to mint their creations on their own collections, and garner their own audience for such releases. Creating a shared contract would provide a space for all artists to sell their derivative artworks within the community, find additional exposure for their works, and receive the monetary benefit of doing so. It would also look very cool as a unified collection housing so many different artists.

RATIONALE Deploying a collection of WAGDIE derivative arts shared by all artists within the community will provide a valuable companion collection to the project while also highlighting the works of talented community creators who might othewise go unnoticed.

Revenues generated through the wagdiearts.eth contract will compensate artists for their contributions to the community, as well as create a fund for additional commissions dictated by the wagdiearts.eth council, and provide royalty revenues to The Conclave.

SPECIFICATIONS The following will be required to execute this proposal:

• An organized panel of talented and trustworthy artists
• Formalized submission platform for incoming art evaluations
• Deployment of a custom minting contract for the collection
  • Contract will be developed by @tenacity.eth and reviewed by audit panel
  • Includes minting approval for panel artists
  • Includes automatic split for primary sale revenued
  • Includes automatic split for secondary sale royalties

IMPLEMENTATION These are the steps to accomplish this proposal:

• Open nomination / acceptance process for panel of at least 6 artists
  • Nominees will be updated here, as approved: @ROMbrandt @Rollinorama @LostCowboy @josiah.peace
• Create new category within The Conclave for artist communications
• Define review and approval process among artistic panel
• Establish wallet for essential to operation of collection
  • Apply a recognizable ENS [wagdiearts.eth]
  • Set up multi-sig requirement for mainnet deployment of contract
• Deploy custom minting contract with the following specifications
  • ERC-1155 for compatibility with editions and 1/1 pieces
  • Ability to add / remove approved wallets wallets for minting
  • Record artist wallet associated with each minted NFT
  • Automatic primary sale revenue split:
    • 85% to artist artist
    • 10% to wagdiearts.eth
    • 5% The Conclave
  • Automatic secondary royalty split:
    • 34% to artist wallet
    • 33% to wagdiearts.eth
    • 33% to The Conclave
• Launch first artworks on the contract (determined by panel)
• Announce program to the wider WAGDIE audience

TIMELINE Provide 1 week from this proposal to elect the artistic council, and then 2 weeks thereafter to execute the rest of the implementation, including deployment of the collection contract and the minting of the first (internally determined) artworks. The art submission and reveiew process would remain open forever thereafter. Artistic panel reelection should happen every 3 months.

OVERALL COST Once the wagdiearts.eth wallet has been established it will need seeding with a nominal amount of 0.5 ETH for contract deployments, approvals, and other establishment mechanics as well as transfer fees for revenue relocation. Beyond this, royalties from the sales revenues will self-perpetuate the minting expenses and create a fund that can later be used to commission new arworks from the community, or fund potential showcase opportunities.

SUMMARY This is an inexpensive way to provide value to the artists within the community, create a new foundation for collectible art pieces within the WAGDIE ecosystem, unify various derivative creations under a shared umbrella, and generate revenues both for The Conclave and future artistic endeavors.