[Draft] Proposal: Mystery Drop Platform Integration into Rarible

DAO Governance
#1

Overview

Mystery Drop enables creators such as artists and musicians, to sell a collection of NFTs before revealing the artwork. This feature enables new drop dynamics that creators can leverage to engage with their audience. The primary use case for Mystery Drop is NFT box breaks, where people can buy into a ‘pack’ of NFTs and watch the artist unveil them in real time on a live stream. Mystery Drop uses the Rarible collection smart contract to mint the NFTs and integrate with other NFT protocols like NFTX.

Mystery Drop was developed at the EthGlobal NFTHack.

The market has already shown interest in curated collections or boxes of NFTs, like the ones that are released by Pranksy on NFT Boxes

How Mystery Drop works

For an artist

  1. Select media supported by Rarible to be included in the drop
  2. Fill out the description, upload a cover image for their drop & upload the artwork to a private portal. Media is private and can only be viewable by artist/creator. This allows the platform to run scripts and generate the NFTs
  3. Select the terms of the box (random redemption, lock-up period, etc)
  4. Mint the box
  5. Share link with with their communities and the greater metaverse.
  6. While streaming online with Twitch or similar platform, the creator unlocks the packs. Packs can be configured to reveal automatically, or can remain ‘unopened’ until the owner chooses to open it.

For a collector

  1. Browse Mystery Drop upcoming releases, or follow artists on social media
  2. When a drop opens up, buy a token which represents ownership of one of the NFTs in the collection
  3. Wait & watch the unveiling live
  4. Redeem token for an NFT, or hold the token & keep the collection intact

Under the hood

  • Mystery Drop uses deterministic IPFS CIDs to predict where art & metadata will be pinned. These CIDs re embedded into NFT URI’s like normal, but they are un-resolvable until the artist pins the content

Our Proposal

Integrate the Mystery Drop dynamics into the Rarible protocol & interface so Rarible users can choose a novel way to drop their NFTs to their community

This would include:

  • Integrating Mystery Drop scripts with Mainnet Rarible contracts
  • Integrating with mainnet NFT collection contracts, like NFTX
  • Developing a UX for artists to put together their drops
    • And the subsequent unveiling
  • Improving the UX for collectors to watch the unveiling
  • Integrate option on Rarible dashboard to redirect users to Mystery Drop when they are minting their NFTs

ETA: ~6 weeks (conservatively)

Funding amount

TBD (need to calculate gas & operating expenses of the platform)

MysteryDrop may collect a portion of the box token sale proceeds to operate the platform

Accountability

Active collaboration with Rarible governance & community, as well as attending regular calls to provide updates

Why fund this?

Artists are looking for novel ways to drop NFTs and engage with their community. Having Mystery Drop as a core feature of the Rarible protocol would make Rarible more attractive when artists are selecting what platform to use, and subsequently drive marketplace activity for Rarible.

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Brain Trust DAO helping $RARI holders on capital deployment strategies
#2

PROPOSAL UPDATE

  • This update contains edits to the funding & governance aspects of MysteryDao
  • This proposal is now ready for consideration by the Rarible DAO

Overview

Mystery Drop enables creators such as artists and musicians, to sell a collection of NFTs before revealing the artwork. This feature enables new drop dynamics that creators can leverage to engage with their audience. The primary use case for Mystery Drop is NFT box breaks, where people can buy into a ‘pack’ of NFTs and watch the artist unveil them in real time on a live stream. Mystery Drop uses the Rarible collection smart contract to mint the NFTs and integrate with other NFT protocols like NFTX.

Mystery Drop was developed at the EthGlobal NFTHack.

The market has already shown interest in curated collections or boxes of NFTs, like the ones that are released by Pranksy on NFT Boxes

How Mystery Drop works

For an artist

  1. Select media supported by Rarible to be included in the drop
  2. Fill out the description, upload a cover image for their drop & upload the artwork to a private portal. Media is private and can only be viewable by artist/creator. This allows the platform to run scripts and generate the NFTs
  3. Select the terms of the box (random redemption, lock-up period, etc)
  4. Mint the box
  5. Share link with with their communities and the greater metaverse.
  6. While streaming online with Twitch or similar platform, the creator unlocks the packs. Packs can be configured to reveal automatically, or can remain ‘unopened’ until the owner chooses to open it.

For a collector

  1. Browse Mystery Drop upcoming releases, or follow artists on social media
  2. When a drop opens up, buy a token which represents ownership of one of the NFTs in the collection
  3. Wait & watch the unveiling live
  4. Redeem token for an NFT, or hold the token & keep the collection intact

Under the hood

  • Mystery Drop uses deterministic IPFS CIDs to predict where art & metadata will be pinned. These CIDs re embedded into NFT URI’s like normal, but they are un-resolvable until the artist pins the content

Our Proposal

Integrate the Mystery Drop dynamics into the Rarible protocol & potentially the Rarible interface so users can choose a novel way to drop their NFTs to their community.

This would include:

  • Integrating Mystery Drop scripts with Mainnet Rarible contracts
  • Integrating with mainnet NFT collection contracts
  • Developing a UX for artists to put together their drops
    • And the subsequent unveiling
  • Improving the UX for collectors to watch the unveiling
  • Integrate option on Rarible dashboard to redirect users to Mystery Drop when they are minting their NFTs

ETA: ~6 weeks (conservatively)

Funding amount

1500 RARI which will cover:

  • Gas & Infrastructure
  • Product, Engineering, Ecosystem building

After launch, the MysteryDrop DAO may collect a portion of the NFT drop proceeds, or other fees to fund ongoing development.

Funds would be sent to a Gnosis safe with 4 signatures, one for each of the Mystery Drop team members (possibly a Rarible DAO community member if people like this idea). Gnosis Safe address will be provided at a later date when gas fees cool off so we can create the multisig at a reasonable price :slight_smile:

In the event the team for some reason can’t fulfil on its duties, remaining funds will be returned to Rarible DAO.

Governance

MysteryDrop intends to launch a DAO to manage development, funding, and ecosystem support long term. We intend to allocate membership in the DAO for Rarible community DAO.

Accountability

Active collaboration with Rarible governance & community, as well as attending regular calls to provide updates

Why fund this?

Artists are looking for novel ways to drop NFTs and engage with their community. Having Mystery Drop as a core feature of the Rarible protocol would make Rarible more attractive when artists are selecting what platform to use, and subsequently drive marketplace activity for Rarible.

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#3