LTIP-13: Close Minting for L2StateOfMind NFT Collection

Proposer: Exosphere.L2

Summary

This proposal recommends closing minting for the L2StateOfMind NFT collection after minting 4 additional NFTs to the Layer2DAO treasury wallet. The total supply would be 999 NFTs.

Voting will take place using xL2DAO (locked L2DAO on Arbitrum).

Motivation

The L2StateOfMind NFT collection was launched in August 2022, and 995 have been minted to date. However, the Mintplex minting site has had ongoing technical issues, preventing further minting by the community.

Closing minting provides an opportunity to create scarcity and value for existing NFT holders. Layer2DAO would also mint the last 4 to our treasury, bringing the total to 999.

The DAO can utilize the 116 NFTs in our treasury for future sales, promotions and events. We would also continue receiving 10% in royalties from any secondary sales.

Specification

If this proposal passes, minting for L2StateOfMind will close permanently after minting 4 final NFTs to the Layer2DAO treasury wallet. No further mints will be possible.

The smart contract will be updated to disable minting functionality. The total supply will be 999 NFTs.

Rationale

• Technical issues have prevented further community mints
• Closing minting will create scarcity and value for holders
• Layer2DAO can utilize treasury NFTs for future initiatives
• DAO will continue receiving royalties from secondary sales

Implementation

If passed, the Layer2DAO team will mint 4 final NFTs to the treasury wallet, and update the smart contract to remove minting functionality by July 31, 2023.

Copyright

Copyright and related rights waived via CC0.