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