BIP-56: Injecting Botto into the Mainstream Conversation

Voting ended over 1 year agoSucceeded

Summary

Please note that this Snapshot has a default 72-hour voting window. BIP-56 proposes to invest in a PR push in Q3/Q4 to leverage Botto's solo show at Sotheby’s, aiming to enhance mainstream media presence and reach a wider audience.

Rationale

Botto's solo show at Sotheby’s offers a unique opportunity to elevate its profile in the mainstream. To capitalize on this, the proposal suggests hiring a PR firm with a budget of $20,000 per month for six months, totaling $120,000. This aims to increase Botto's visibility beyond the crypto space and into traditional art and tech worlds, fostering recognition as a leading example of AI and crypto art.

Proposal Specifications

1. PR Firm Engagement

Hire a PR firm: Focus on building brand awareness and securing media features using the Sotheby’s show as a newsworthy event.
Budget: $20,000 USD per month for six months, capped at $120,000 USD.
Activities include:
- Crafting communication strategies
- Proactive media relations
- Securing 3-4 in-depth feature pieces
- Creating campaign content
- On-site support at Sotheby’s
- Maintaining PR materials and managing press inquiries
- Providing detailed reporting 2. Budget Impact
Current Treasury: $2.85M
Gross Burn Rate: $85k/month (33.5 months runway)
Net Burn Rate: $61k/month (46.7 months runway)
Runway Impact:
- Gross burn runway: -1.4 months
- Net burn runway: -1.9 months

Criteria of Success

Direct Results:
- Articles in Tier 1 publications (e.g., NYT, The New Yorker, Wired)
- Broad art world news pick-up of the Sotheby’s event
- Increased social media and overall press mentions
- Positive sentiment in articles
Downstream KPIs:
- Sotheby’s show success and higher prices
- New opportunities from press attention
- Increased auction activity
- More exhibition/installation opportunities
- Growth in active voters, token volume, and holders

Risks and Mitigations

Coverage Guarantees: There are no guarantees of coverage. Regular reporting will help the DAO assess success and adjust strategies accordingly.

Please refer to the BIP-56 forum post for full details and discussion.

Off-Chain Vote

Approve

769.38K BOTTO93.4%

Disapprove

54.52K BOTTO6.6%

Quorum:165%

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Discussion

BIP-56: Injecting Botto into the Mainstream Conversation

Timeline

Jul 18, 2024Proposal created

Jul 23, 2024Proposal vote started

Jul 26, 2024Proposal vote ended

Apr 11, 2025Proposal updated

Summary

Rationale

Proposal Specifications

1. PR Firm Engagement

Hire a PR firm: Focus on building brand awareness and securing media features using the Sotheby’s show as a newsworthy event.

Budget: $20,000 USD per month for six months, capped at $120,000 USD.

Activities include:

Crafting communication strategies
Proactive media relations
Securing 3-4 in-depth feature pieces
Creating campaign content
On-site support at Sotheby’s
Maintaining PR materials and managing press inquiries
Providing detailed reporting 2. Budget Impact

Current Treasury: $2.85M

Gross Burn Rate: $85k/month (33.5 months runway)

Net Burn Rate: $61k/month (46.7 months runway)

Runway Impact:

Gross burn runway: -1.4 months
Net burn runway: -1.9 months

Criteria of Success

Direct Results:

Articles in Tier 1 publications (e.g., NYT, The New Yorker, Wired)
Broad art world news pick-up of the Sotheby’s event
Increased social media and overall press mentions
Positive sentiment in articles

Downstream KPIs:

Sotheby’s show success and higher prices
New opportunities from press attention
Increased auction activity
More exhibition/installation opportunities
Growth in active voters, token volume, and holders

Risks and Mitigations

Coverage Guarantees: There are no guarantees of coverage. Regular reporting will help the DAO assess success and adjust strategies accordingly.

Please refer to the BIP-56 forum post for full details and discussion.