BIP-56: Injecting Botto into the Mainstream Conversation

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.