OnChainMonkey’s First NFT Charity Auction for Giga Connect
OnChainMonkey is the OCM is the first PFP (profile photo) NFT collection created completely on chain with one transaction. We did our first charity auction on Wednesday, September 29, less than 3 weeks after the collection was launched, with 100% proceeds benefiting the Giga Connect project. Roham Gharegozlou, founder and CEO of Dapper Labs, won the charity auction who Bill Tai, legendary Silicon Valley investor and co-founder of Metagood, had funded back in 2018. In a karmic twist of fate, it seems that all good things that come around, go around.
What is Metagood?
Metagood (www.metagood.com) is a Web3 technology company that builds tools to empower communities, creators, and companies to be catalysts for positive collective action. Using their tools and incentive platform, Metagood launched OnChainMonkey (OCM) to demonstrate how Web3 can reward collective behavior for social impact. OCM includes a membership token that is the first non-fungible token (NFT) profile picture collection created on-chain in a single transaction. Creating an entire NFT collection, including metadata and images, all on-chain in a single transaction was groundbreaking because the single transaction was an efficient use of the Ethereum blockchain and minimized the costs of deploying the OCM collection.
Metagood (re-branded from Nfinita) was founded by:
Danny Yang - CEO. Founded MaiCoin, one of the first and largest cryptocurrency exchanges in Taiwan. Founded Blockseer, a blockchain analytics company, later acquired. PhD in computer science from Stanford University and BA from Harvard University (https://www.linkedin.com/in/huuep/)
Amanda Terry - COO. Former digital media business development executive at Twitter, NBC, and Neustar. Community Lead, 501c3 ACTAI Global. Managing Partner, ACTAI Ventures. MBA from Wharton and BA from Princeton University. https://www.linkedin.com/in/amandaterry/)
Bill Tai - Chairman. VC, Athlete, Chairman of ACTAI Global, a 501c3. First backer to commit to Zoom and seed investor in Canva, Wish, Treasure Data, Dapper Labs and more than 20 companies that have become publicly listed companies. (https://www.linkedin.com/in/kitevc/)
We have a great community of crypto, nonprofit and celebrities supporting us! The OnChainMonkey collection is supported by Metagood and will be traded on Metagood at no costs to OCM holders once launched.
We want to be a company of “firsts” in terms of pioneering technology, community, and causes!
At its launch, OCM pushed the boundaries of what could be created from a single Ethereum blockchain transaction. OCM was the first to launch an entire 10K profile picture (PFP) collection, all on-chain, including the metadata and images as SVG files.
Most NFT projects host the images or metadata off of the blockchain on a separate storage system. This means the actual useful part of the NFT could be separated from the blockchain and the NFT holder could be left with just a “pointer” to nothing. This has happened to a few NFT projects where the storage system was turned off, or replaced. OCM, being completely on-chain, makes this loss scenario impossible.
Of the hundreds of significant NFT projects in existence today, only a handful are completely on-chain. In the PFP genre, even fewer. And for PFPs that are on-chain, and launched in a single transaction, we were the first to do this!
This is significant because it is expensive and wasteful to store a lot of data on chain, and by launching a whole collection in a single transaction, we are making the most efficient use of space. A single transaction is simple, clean, efficient, like an atomic transaction in a database, indivisible, complete.
In addition to innovating in technology, Metagood aims to experiment in and discover new ways to build community, create value for the community, and harness the energy of the community to produce societal benefit. We will reward those who contribute the most to our community with special NFT awards. OCM plans to be a powerful force of good, one that is needed in today’s fragile interconnected world.
Our mission is to empower communities to be catalysts for positive collective action. Our core values are RISE:
Respect — we treat everyone with respect
Integrity — we strive for the highest ethical standards
Sustainability — we create for the future
Experimentation — we try new things to find better solutions
OCM will support causes, the first one being the UNICEF Giga Connect bringing internet to schools globally. The next one will likely be Projecting Change, which is creating projections during the United Nations Climate Conference COP26 on the Glasgow building on Nov. 5, to inspire a billion people to solve the climate change crisis.
What is Metagood’s origin story and how was this auction karmic?
Bill Tai invested in Dapper Labs in 2018 at their $38M valuation (Dapper just raised a $250M round at $7.6B) on the condition that CryptoKitties, created by Dapper Labs, make a cute sea turtle non-fungible token (NFT) named “Honu Kitty.” One of the world’s first NFTs for good, the Honu Kitty NFT generated funds to protect endangered turtles from poachers.
Fast forward to 2021, Metagood has assembled a diverse community from the crypto, nonprofit, and celebrity worlds to join forces to replicate what little Honu Kitty accomplished, but for many meaningful causes!
How did this auction of an OnChainMonkey work?
OnChainMonkey community member @p0lynice (Twitter handle) volunteered to donate his OnChainMonkey NFT #6410 for auction. We held a Twitter Spaces with Chris Fabian of the Giga Connect project who spoke with Danny, Amanda, and Bill about why the initiative to bring internet to schools globally is so critical to information, opportunity, and choice for today’s youth:
Within a week, Roham Gharegozlou, Founder and CEO of Dapper Labs, was bidding against Charlie Lee, Litecoin creator, amongst others with Roham winning with the final bid of 12.5 ETH. Roham and @p0lynice were awarded rare and generative Metagood Moments, NFTs from Metagood to award our community for doing good.
What will the funds be used for?
100% of proceeds were donated to the Giga Connect (https://gigaconnect.org) project, supported by UNICEF, ITU, the Elon Musk Foundation, Dubai Cares, and Ericsson, which is mapping and bringing internet to schools globally. Here’s Bill Tai on why bringing internet connectivity to schools matters at the United Nations General Assembly with 45+ heads of state:
Here’s an interview about his involvement with this project along with the Elon Musk Foundation, Dubai Cares, and Ericsson: https://theunbrief.substack.com/p/bill-tai-helps-unicefs-giga-connect
This was a small experiment in seeing if the OnChainMonkey community could generate funds for a cause from our community. Stay tuned for more of these kinds of experiments!