S5 FWB Friends with Beans

Author(s): #COFFEE Thread, drafted by derekgtaylor#7693, raihan#8888, brian mark#7846, greg bresnitz#9919.

Abstract

If successful, this proposal will fund a pilot run of the Friends With Beans program, which is a subscription coffee service for the FWB member community, committed to delivering the best coffee experience to our membership at fair and transparent prices. There's ample appetite from the community for great coffee, and we have the ability to deliver. We'll pilot this in a limited way for S5, and will expand our offering in S6 and beyond if successful.

Motivation

Coffee is important to the culture of FWB. We've got a number of members currently or formerly working in the coffee trade, and even more members who are passionate coffee brewers and drinkers. We want to ensure that our members have access to incredible beans wherever they live, and see an opportunity to deepen community connection through shared coffee ritual experiences.

Impact on FWB community 

The FWBeans program will connect members passionate about coffee with great coffee, and with one another. It will create activity/utility on the FWB token, will allow us to test an owned DTC product offering, and will either be revenue positive. It will also ensure that the membership is drinking only the finest coffee.

Overview

This proposal will approve a five shipment pilot run of our NFT-powered subscription coffee service. We'll list 100 NFTs for sale on ZORA at ~5 $FWB mint price, each of which will be redeemable for a ten-week (five shipment) subscription. Every two weeks, members will receive 12oz of mind-blowing coffee plus exclusive coffee gear, FWB swag, and virtual experiences. If successful, we'll expand the offering in Season 6 to include dedicated internal resources, additional geographies, and a broader product offering.

Details

• Team recruits a designer to create NFT, packaging, and collateral designs.

• Team lists NFTs on Zora at the cost of ~5FWB each. Fifty each of the WILD and MILD NFT, which will have distinct art.

• Members will redeem their NFTs on a dedicated site, where they'll connect their wallets and enter their shipping details. For S5, this program is available to CONUS addresses only.

• Orders will be transmitted to supplier for fulfillment. 

• Subscribers will receive a package every two weeks, which will include 12oz of incredible coffee, plus exclusive coffee swag. Current plans include a members-only diner mug, elite brewing tools, and virtual cuppings.

• We'll collect subscriber feedback to inform S6 proposal, and will use the results of the final cupping to dictate coffee choices for S6.

Existing relationships and infrastructure make this initial pilot easy to execute. As such, the team executing requests only one mint each in exchange for coordination and project management (four mints total).

Additional details:

• Mint week of 2/14, first shipment week of 2/21.

• Max quantity of 100 sign-ups. If it doesn't sell out within three days, we can either burn the remaining NFTs or open them up to the public.

• If not all NFT sales are claimed for subscriptions, any unspent funds will return to treasury.

• Costs assume super-high quality beans. All prices listed are wholesale price with no markup. Wildly transparent.

• Coffee curated by Raihan and Derek, who both have hefty coffee bona fides.

Discussion

While there are other coffee subscriptions available, we believe we're uniquely positioned to add value to the community by delivering stellar coffee plus compelling FWB community connection. 

Roadmap

Include the next steps to accomplish the initial end-state. Can be as detailed or as high-level as you like to start with --- this is not a project plan, it's just a way to explain what you're planning.

1. Source the beans & determining MVP for first Season 

2. Add any additional schwag costs

3. Coffee Thread Feedback + Proposal Update + Snapshot

4. Design label + NFT 

5. Set up logistics with Cat & Cloud

6. Post on Zora

7. GTM Sales

8. Redeem NFT 

9. Ship Coffee

Outcomes & success measures

1. Sell through all 100 NFT w/ 80%+ redemption 

2. Waitlist for next drop 

3. Social media chatter around coffee 

4. Increase NFT sales for season 6

5. Stronger bond for Food / Coffee channels 

6. FOMOOB - Fear Of Missing Out On Beans

Looking forward

Friends With Beans becomes a steady revenue stream for FWB DAO. Healthy annual sales + merch drops & special collabs that allow us to build a retail presence using squad knowledge. Able to introduce other verticals (tea) to the audience. 

Potential for $500,000 in sales in one year.  

Budget

We want FWBeans to be treasury-neutral or -positive in S5, offering incredible value to members while also positively impacting our treasury. Total costs are relatively fixed, and we do not expect much divergence from plan here. Anticipated revenue would fluctuate based on token price and whether or not we sell out 100 units as planned.

Total Costs: $20,500
Anticipated Revenue: $24,000
Net Contribution To Treasury: $3,500