Proposal Idea: Temporarily boost/feature NFTs with $RARI

Community / governance
#1

$RARI at the moment doesn’t serve any purpose for most of the community. Most artists are not interested in governance, and there is no dashboard to vote weekly on featured pieces with $RARI (as is outlined in the introductory medium post). Even if weekly featured voting was implemented, I still think the problem I will outline in this post is not fully addressed by just featuring a small set of NFTs weekly.

$RARI could be used to solve an issue many artists face, and through this mechanism $RARI could be taken back to the treasury and either burned or redistributed in some way.

Here’s the problem: A lot of artists/collectors get drowned out by the many NFTs being created every minute.

Their pieces end up getting buried by a bunch of new NFTs, so what a lot of artists/collectors do is cancel their sales and then resell again to put their NFT back up to the top of the page so everyone can see it. Even after this, their pieces will still get buried pretty quickly by new NFTs and they will have to waste more and more gas to keep resurfacing their pieces.

What if users could pay in $RARI to boost/feature their token to stay within the top ~30 tokens (or on a seperate and collapsable menu/row) for a certain amount of time?

The more $RARI you pay, the higher up it stays or the longer it gets featured. We could also have only a limited amount of featured slots, and then the amount of $RARI used to be featured would work like ethereum gas prices: a natural auction of everyone one-upping each other until they find the price too high, and decide to hold off until later.

This would add a lot of incentives to buy and use $RARI, and the $RARI given back to the treasury could be used to airdrop or burn which would decrease the supply (and in theory increase the price).

What do you all think?

2 Likes
#2

I think that this makes a lot of sense, however, I do think that this will get us stuck in this endless loop of the more successful artists being able to stay on top by endlessly controlling discovery.

To counteract this, potential implementations could be:

  • maximums per artist
  • being able to delegate $RARI (adspace really) to smaller artists
  • setting up a DAO to “advertise” smaller artists

I do really like the idea of enabling the $RARI token to be used as a content filter. I think that something else that could be tried is just voting with $RARI instead of “buying” with $RARI to get the adspace. Addresses that have purchased NFT’s (it would be limited to this as sybil resistance) are able to upvote art that they think is cool.

I like both ideas.

2 Likes
#3

You don’t need to cancel sales or use eth gas to go to the top of the marketplace listings,you only have to drop your price ,example from 0.29999 to 0.29998 (you can use up to 5 decimal places)which is free to do.And the change in price is so low that it will not show up in your listing.It will only show up as 0.29 .You pay eth gas when you mint (create)or cancel a sale of a listing.You also pay eth gas if you want to cancel your listing to put the price of the listing up & eth gas to relist.the item.So as you can see now you can drop the price many many times without it showing up in your listing. or costing you anything.
Top Sellers are featured on the left side of the Main marketplace page.which covers up to the last 1 day, 7 days, 30 days. Also,.If you buy an item it is a free listing if you want to sell it

#4

I think you’re 100% right about needing some protections against abuse from large bagholders and popular creators.

I’ll do more thinking about this.

#5

I agree with this.

It also warrants the discussion that Rarible’s main page and search functionality is pretty limited, making it difficult for folks to peruse through a lot of specific content easily. When search functionality is poor, more weight is given to the most visible features- which would be best selling/hot bids/recently posted.