GM82.1 : creation of gm.scribe

Author:

Ze_Boubs & Cyphr

Proposal date:

2/16/24

Summary:

First goal of this proposal is to gain permission to use the “gm.” brand under the “gm.scribe” banner.

Secondly, proposal aims at enacting the creation of a new entity : “gm.scribe”. This entity will distribute art on bitcoin through offering ordinals/inscriptions while leveraging “gm.generator”, the rendering tech developed by gm.studio.

Rationale:

We believe ordinals have reached a point where it’s likely going to stay relevant for a while. We also strongly feel that the ethos of immutability and decentralization offered by the bitcoin blockchain aligns perfectly with our vision. Art is for all, and every artist should be able to choose the blockchain they want to release on. We want to capitalize on the ordinals growth trend, especially given limited number of platforms offering high quality art on ordinals today.

With the credibility that we’ve built up via gm.studio on ETH, we’re confident that this reputation will translate to immediate demand from the current ordinals community, who have shown an immense interest in collection art on Bitcoin.

Our first drop is already secured, and in the unlikely event that this proposal does not pass, we will consider launching under a non-gm branded entity.

Specifics:

There are no immutable specifics yet on the positioning of this new entity with regards to gm.studio’s offerings. As said above, we’re looking at a relatively untapped market by being one of the first platforms to offer help on launching art on ordinals. It is also a good ad for the gm.generator product, which has yet to be announced publicly.

Up to now, gm.studio has been fully subsidizing the creation of the entire gm.scribe solution, both from a front-end and back-end perspective. As such, gm.studio would look to recoup the entirety of these costs from the initial release revenue. Any subsequent profits and the ownership of gm.scribe will remain in DAO’s hands, and require an additional proposal to formalize it’s incorporation.

If successful, we would look to establish gm.scribe as its own platform completely separate from gm.studio.

Currently the platform is being developed and managed by the gm.studio team. This would likely continue in practice, but depending on other demands & commitments additional team members may be required.

In regards to the initial release, our strategy is to eliminate any barriers to entry to ensure the best possible outcome for the drop, meaning no token holder benefits (i.e AL or discount). However it is our intention to weave the token into future releases once we’ve proven the viability of the platform.

Pros:

Enter the ordinals market.

Spread the awareness around the gm.brand, and gm.generator.

Spread awareness to artists.

Make us known as agile and fast-paced execution on everything NFTesque.

Bring back attention on the DAO.

Cons :

No cons wrt financials since all costs have been covered by gm.studio.

Payout amount:

None