SIP-00031: Create Shark Bait - a Spotlight Platform for Emerging Artists and Projects

Authors: @Lamorak, @Sasquatch

Purpose

Set aside 20 ETH of funding to be used to support Noun adjacent NFT projects by purchasing works direct from artists in the ecosystem.

Summary

• There are NFT projects that currently exist or that may exist in the future which either directly or indirectly relate to the Nouns project.
• It is in SharkDAO’s best interest to support this ecosystem and to be a purchaser of NFTs in this space
• Allocating 20 ETH of treasury solely to these purchases will allow SharkDAO to take on reasonable exposure to these Nouns adjacent projects, and is a small amount proportional to the overall treasury

Rationale

• There are currently, and will continue to be, several NFT projects either directly or indirectly related to the Nouns project. Directly related projects would include things such as Noun derivative works. Indirectly related projects would include NFTs that further the CC0 ecosystem, allowing others to leverage building blocks to create their own projects.
• Purchasing NFTs in this space furthers SharkDAOs values of Building, Innovate, and Ecosystem.
  • We define Building as “community, experience and culture” - purchasing these Noun adjacent projects allows us to support the building of the Nouns community, experience and culture.
  • We define Innovate as “speed and collaboration to drive growth” - purchasing these Noun adjacent projects would give SharkDAO access to new communities of passionate individuals and allow us to tap into those innovative communities to drive growth.
  • We define Ecosystem as “creating value around the Nouns, NFT, and the Web3 space” - purchasing these Noun adjacent projects would help increase the visibility of the projects and further the overall presence of the ecosystem.

Selection Process

• The curation team, initially composed of the individuals named below, will identify potential non-Noun NFTs for SharkDAO to purchase. The curation team is an open group, and any Shark may join by self-identifying as interested in being a member of the team. The curation team will post details of the NFT and a short explanation of why they believe it is a worthwhile purchase in the newly created #shark-bait channel. All Sharks are then able to provide an emoji reaction signaling if the NFT should be purchased or passed. The channel will be react-only for all non-curation team members. The polling period for new purchase posts will be 24 hours, at which point a snapshot of the vote will be taken and the curation team will take action based on the majority vote.

Curation Team

• @Sasquatch
• @Lamorak
• @JawshuaFisher
• @Cryptasha

NFT Criteria

• Purchases direct from the artist only
• 1 ETH maximum price
• Primary collecting categories are expected to include, but are not limited to:
  • Noun derivative projects
  • Pixel art
  • CC0

Risks

• Purchasing a non-Noun NFT is perceived as a divergence from SharkDAO’s core mission
• The NFTs purchased decline in value, or lose their value entirely
• Individuals on the curation team may have a conflict of interest, causing them to favor recommending the purchase of works by specific artists
• The perception of SharkDAO favoring certain artists over others and the potential to disappoint artists whose work is not selected to be purchased by the DAO