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Expansion Phunks DAOExpansion Phunks DAOby0xa745067637CFea3fef6861135fAd57Ad38dF3Bfedgen.eth

P2 - 3rd party NFT platform royalties adjustment

Voting ended almost 4 years agoSucceeded

Background The project was originally developed, deployed and abandoned by its founder. The community banded together to rescue the project while gaining control over the contract and the rest is history. All royalties are paid into a multi-sig wallet, signed off by community members. Funds paid into the multi-sig wallet are used to pay for the operations, expansion and growth of the community.

The seed capital supplied by Franklin originally will not last forever if we plan on utilizing it further for marketplace development, potential conversion to ERC721 or releasing further collections.

The current royalty per sale that goes back to the project wallet via Opensea is currently 1.5%. This is one of the lowest in any NFT project, let alone one that requires self funding from a multi-sig based DAO.

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Proposal This proposal is to get community approval to adjust the Royalties to community wallet at Opensea (or any other 3rd party NFT sales platform where we have control e.g. Looksrare) to a suggested 5% minimum.

In raising the community royalties to 5%, funds supporting the DAO can be built up more easily as the project continues to be adopted in the NFT space. The GOAT teams view is that the impact on trade volume (given low trading prices) will be negligible, indeed the control to adjust prices to accommodate for this increase resides wholly with the sellers.

Indeed, projects such as BAYC started with 7.5% and only revised down as the community/project treasury gained sufficient capital.

Please use your xphunks to vote(!)

NOTE: We believe the voting accuracy (xphunks count) should now be resolved following a deployment from snapshot.

Off-Chain Vote

Leave at 1.5%
2 XPHUNK0.1%
Increase to 5%
1.45K XPHUNK98.2%
Increase to 7.5%
24 XPHUNK1.6%
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Discussion

Expansion Phunks DAOP2 - 3rd party NFT platform royalties adjustment

Timeline

Apr 25, 2022Proposal created
Apr 25, 2022Proposal vote started
May 01, 2022Proposal vote ended
Aug 08, 2025Proposal updated