Proposal 138: Bid up to 1 ETH on OD Labs FNIC’s

Context: ODLab’s is a project run by a Toronto artist named T3tra who is changing the game with his augmented reality interactive art. T3tra is a traditional physical artist and has a unique art style. This project is his first NFT, and the implementation of the augmented reality experience makes a compelling argument for its success.

T3tra owns a high end consignment store called OD Toronto and has a great reputation in the community with lots of connections. The project is very active on Twitter and has already hosted multiple awesome events in collaboration with Rug Radio & Farokh. These include a Toronto Pop-Up this summer that I attended and an Art Basel event in Miami. I was very impressed with the Toronto event experience.

FNIC Explained: OD Labs will be dropping T3tra’s signature “Lulu” character collection through the access of 333 FNIC Passes. The FNIC Pass grants the holder up to 5 mints from the upcoming ODLabs Lulu collection. During each mint, the F.N.I.C holder will allowlist 2 new wallets, newly allowlisted wallets can mint 2 LuLu’s and 50% of the mint proceeds made from the newly allowlisted wallets will be distributed back to the F.N.I.C burner.

Thoughts: This project is an interesting take on traditional art through augmented reality, and the team has mad some really cool AR experiences. The minting mechanics will cover the cost of the initial 5 mints assuming there is demand for the allowlist spots. I believe that the FNIC passes are potentially undervalued and we could see them run as the mint approaches. I recommend we allocate up to 1 ETH by placing collection bids to sweep for the lowest cost possible.

I encourage everyone to check out the links below to get a better understanding of the project and artist.

Links: https://x.com/odlabs/status/1679574693005631494?s=20 https://twitter.com/T3tra333 https://www.instagram.com/tetratheg0d/?hl=en