[FINAL] Triwizzy Tournament

Doodle ID for Kudos: #2720

Discourse:

• https://forum.doodles.app/t/triwizzy-tournament/2176

Proposal:

• Allocate max of 60 ETH; or
• Do not allocate

Rationale:

• Fund the organization and execution of the first Triwizzy Tournament, an annual creative competition organized by the wizard Doodles set to launch in Q1 2023.
• Fund the development of a reusable multi-stage tournament web app & free claim website (used once)
• Fund the art and design of the tournament web app and access token NFTs
• Fund the prize pool for the first Triwizzy Tournament, comprised of 3 Doodles and 6 Genesis Boxes
• Fund gas costs to deploy the Wizzy House access token, to be freely claimable by anyone holding a Doodle, Dooplicator and/or Genesis Box.

Timeline:

1. Finalize tournament spec
2. Kickoff website art projects
3. Kickoff website engineering
4. Functional prototype
5. Set launch date & tentative tournament timeline
6. Collect community feedback
7. Website ready, QA & testnet dry run
8. Founder approval before a tournament announcement release
9. Release contract on mainnet
10. Tournament launch!

We are aiming for a launch in Q1 2023

Contract tests have already been successfully conducted and the collection is ready to deploy using pre-audited contracts.

Goals:

• a yearly community-powered activation that all of web3 can look forward to
• a repeatable source of revenue for Doodlebank via royalties & annual auction
• the tournament is an organic community onramp for folks within web3
• future activations will utilize the same collection to reactivate the community
• repeatable source of exposure for the Doodles brand without any recurring costs

Our goal is to return 100%+ of the proposal amount (60 ETH) over the lifetime of the Triwizzy Tournament (hopefully for many years to come).

Cost: Max of 60 ETH

• Up to 32 ETH for prize pool, leftover returned to Doodleback
• Up to 28 ETH for NFT/website, art, platform dev & gas costs

Disbursement Plan

	Milestone	Ask	ETA
1	Immediately buy prizes (3 Doodles, 6 Genesis Boxes)	32 ETH*	Post-vote
2	Fund NFT collection art	2 ETH	2 weeks
3	Specs & wireframes ready, fund web app art	8 ETH	4 weeks
4	Mint website ready	3 ETH	2 weeks
5	Tournament web app functional prototype	6 ETH	4 weeks
6	Tournament web app ready	6 ETH	4 weeks
7	House Token contract deployment	3 ETH	Pre-launch

*Leftover ETH will be sent back to Doodlebank directly after the prizes have been secured.

Doodlebank Revenue

• Doodlebank will earn 50% of all house token (public) sales and secondaries.
• Doodlebank will earn 5% of sales & secondaries from post-tournament auction

Accountability:

• Funds will be released in installments per the above disbursement plan
• Tournament prizes will stay stored with the custodian of the Doodlebank
• Website development will be made publicly, with regular updates and sneak peeks
• Collection & website art will be scoped and budgeted before disbursement

Voting Info:

• Quorum (Duffel Bags): 15%
• Majority of Yes or No.
• Abstentions count to quorum but do not affect yes/no votes.

Read through the comprehensive plan for the tournament at triwizzy.xyz/proposal