BIP-50: Invisible Alchemy's Future

Summary

Please note that this Snapshot has a default 72 hour voting window.

This BIP is to commit to creating 3 more Invisible Alchemy works (see BIP-46), one for each of the next three Periods, to be privately placed with collectors through MakersPlace.

The first Invisible Alchemy sold in a group show with MakersPlace during Miami Art Week (aka Art Basel Miami). The work sold to Pablo Rodriguez-Fraile, an influential digital art collector who has since made vocal support of Botto as a patron.

MakersPlace has received additional interest from large collectors who wish to acquire this artefact of Botto’s process, and MakersPlace has offered their concierge service to help place future iterations of Invisible Alchemy.

Based on feedback, there is an additional specification, with buy-in from MakersPlace, that the DAO may decide in a subsequent BIP to shift to an editioned approach for the 8th or 9th period. Note that this may require new terms based on additional support an edition would need.

Proposal Specifications

• Have MakersPlace privately place one Invisible Alchemy for each Period through the remainder of 2024 (3 Periods total)
• Each Invisible Alchemy will be a single ERC-7160, running 12 weeks, and called "Invisible Alchemy: [Theme]" with an initial image featuring Logo and name. There will be physical display option made available to the collector at their cost, but not in the sale price.
• BottoDAO will take the Discard with most VP in the first 12 rounds of each Period at set weekly interval of Tuesdays at 1600 EST, uploading artwork onto Arweave
• Server makes an API call to get all the data from Botto, then uses that data to update the contract and force a metadata refresh via backend service.
• There will be no discard for the 13th week as no new discards are made.
• Buyers may optionally purchase a digital display with a TRACE chip at their own cost. If they do so, Botto.eth mints ERC-721TL minted for Records and sends to the TRACE Chip to be applied to the display.
• At the end of the year we will re-evaluate the agreement and partnership with MakersPlace.
• Pricing will not fall below 6ETH, and we intend on raising the price up to 10ETH depending on the market and in discussions with MakersPlace.
• Commission will be 40% on the first sale, and the two other sales will be 15% commission.
• MP will retain 6 month exclusivity on the primary sale. If a sale is not made in the first 6 months, then it will be placed in Botto’s vault and exclusivity will end.
• We will reassess at the during Q4 on how to continue.
• MakersPlace is open to the DAO deciding in a subsequent BIP to shift to an editioned approach for the 8th or 9th period. Note that this may require new terms based on additional support an edition would need.

For additional information on the points covered in this Snapshot, please refer to the Governance Forum thread that contains explanations of each line item above.

Explanations & Details: BIP-50: Invisible Alchemy's Future