TIP-02 Launch v1.0 of the Treasure Marketplace

Gaarp

Summary

The Council proposes to launch Version 1.0 of the Treasure Marketplace as soon as testing is complete - in line with original, previously communicated plans. This will address an immediate gap in the market, providing a marketplace that caters to a wide array of token standards, while positioning Treasure at the forefront of NFTs on Arbitrum.

The Version 1.0 launch will commence with pre-qualified partner NFTs such as SMOLBrains and LIFE, along with all NFTs from the Treasure ecosystem (Treasures, Legions, Numeraires, Rivermen etc). Royalties will be initially set at a maximum of 5%, split between the Treasure DAO and the creator (where applicable). Treasure DAO will receive no less than 2.5% of the 5% royalty to ensure the DAO generates sufficient revenue for growth in this critical scale-up period.

The parameters for Version 1.0 have been optimised for speed to market, simplicity and capturing share. The broader roadmap for the Marketplace (ie. Version 1.x) will be tabled with the DAO at a later date (ie. feature and governance complexity).

Rationale

There is a small window of opportunity for Treasure to become the leading Marketplace for NFTs on Arbitrum. To achieve this, the Council recommends launching a simple and functional initial product release that can quickly capture share, and be iterated overtime.

This means limiting features and variable parametres to a smaller, controllable set. As the marketplace scales and more data is observable, refinements can be made. Scaling users, speed and function are the priorities in this initial phase, together with quick decision making within a simple framework.

Speed to market is critical to ensure Treasure maintains momentum and can start generating revenue to fuel DAO growth.

There may be significant adverse impacts if the launch of the marketplace is unnecessarily delayed (ie. beyond technical issues): lose opportunity to capture mindshare and market share, lose all momentum of partner NFT launches (eg. SMOLBrains, Life), considerable additional labour time and costs, delays of the broader Treasure roadmap.

Proposal

Launch Version 1.0 of the Treasure Marketplace as soon as practical in line with the original framework.

Polling Period (POLL CLOSED, QUORUM REACHED)

The polling process begins now and will end at 21:00 UTC on 09/11/21. After this, a Snapshot vote will be put up at 22:00 UTC on 09/11/21.

Vote

For: Version 1.0 of Marketplace goes live as planned
Against: Version 1.0 of Marketplace delayed

Viggy

Release the first viable product and iterate over time always, imo!

I just want a place to look at my NFTs and buy all the SMOLBrains I can.

sjcpapa

Voted 😄

nftbroo

Is it necessary Treasure Dao enforce a 2.5% royalty for developers/artist who choose to launch their project on our marketplace? I think Treasure Dao should take care of Treasure Dao’s business(set our own fee) and let the artist/devs decide whatever royalty they want streaming back to them on their own projects.

allyourcat

nftbroo I think the 5% is a maximum, with a minimum of 2.5% to TreasureDAO so that's exactly what you suggested, just worded differently.

Royalties will be initially set at a maximum of 5%, split between the Treasure DAO and the creator (where applicable). Treasure DAO will receive no less than 2.5% of the 5% royalty to ensure the DAO generates sufficient revenue for growth in this critical scale-up period.

nftbroo

allyourcat I’m implying we set our own fee( the one that comes to dao) alone and let the developers/artists launching their projects on the marketplace set their royalty based on whatever % they wish to as some might decide they are doing a free mint while others might decide a fat 7.5% royalty on their projects. Shouldn’t be up to us to dictate what they should take imo

Onyi

Definitely commence with releasing version 1.0 of the marketplace as Treasure seems to be gaining traction and iterate over time.

Slaterade

Voted

DetailOriented

Launch quickly and ramp up branding to capture mindshare of Arbitrum newbies looking for a fast on-ramp to value added NFTs.

allyourcat

nftbroo fair enough that’s a good point, I suppose it’s just a matter of removing the cap so that it’s 2.5% + x% where x% is whatever the creators want rather than capped at x <= 2.5%.

Worth a think i guess, wouldn’t be opposed to that but for it potentially delaying the launch of v1.

SteveyJay

Let's get v1.0 out there in a stable and functional condition ASAP!

herp

Definitely launch a MVP as soon as possible -- voted yes to go live! Thank you team!

badquant1

Minimum Viable Product is the way to go here.

mrk

Functional v1 and iterate over time, definitely

Treasure_Alex

Launch the marketplace MVP, communicate it properly and take the chance to become the #1 NFT platform and on Arbitrum .

sammy

Voted in favor. Fully supportive of moving fast and shipping fast. Let's get this MVP launched. One suggestion to consider: do we want to call this a version a Beta or v0.5 or something like that, to indicate that more features are planned and on the way to represent the team's vision of what a full-fledged market place should be.?

BigDawgWoof

All gas, no brakes. LFG

cryptosorosrekt

Marketplace!