The epic and true story / off-off-white-paper behind NFTP DAO (Non-Fungible Toilet Paper), Rainbow Rolls, and the crusade to raise money for Public Goods.
TL;DR: Mint Rainbow Rolls to support Public Goods on Tuesday at 4:20pm EST (Monday if you’re holding a whitelisted token) because YOU CAN HAVE IT ALL: a super cute NFT AND fund Public Goods.
Let’s start with the mint info:
Contract Address: TBD
OpenSea Collection: TBD
Pre-Mint: Monday Oct 11, 4:20pm EST
Launch: Tuesday Oct 12, 4:20pm EST
Mint Price: 0.1337 ETH
Multi-sig where you can YOLO donations: 0xBdAF85b594C7Cb802ECBBcF0C64e0959b6Cf3629
Who made this?
🌈🧻NFTP DAO is an all-star collaboration between contributors to: RaidGuild, Gitcoin, BadgerDAO, Opolis, Giveth, MetaGame, MetaCartel, SporkDAO, Popsicle, NTFA, MetaFactory, Open Zeppelin, LSDAO, the Defiant Pixel Society, and a few others who wished not to be listed. Our Primary artist, known only to us by the letters R.A.G.D, is an incredibly talented Creative Director who is venturing into the Web3/NFT space for the very first time. As much as we’ve done to help his trip down the rabbit hole a smooth one, it’ll be up to the community to ensure the project’s success.
Why we made this?
To fund Public Goods. We got tired of seeing reductive thematic cash-grabs. We kind of wanted to prove that people would mint anything based on the right market constraints of peer pressure, FOMO, and cute art. More importantly, we wanted to do it for Public Goods. We set off on a mission to raise money for Public Goods, in the footsteps of Moonshotbots, but not on a price curve.
Top talent from across the Metaverse was drawn to this mission, volunteered to overwork themselves for 5 weeks in the name of a few Good causes.
Before I dive into that, just want to give a shoutout to a few special folks that helped lead us to where we are RIGHT NOW:
- John Paller — the Founder and Executive Steward of both Opolis and ETHDenver gave out Bitconnect Toilet Paper at ETHDenver, a roll of which sits on my desk.
- John Oliver — Not ashamed to say I’ve watched every episode of Last Week Tonight. Big fan. We were inspired by this piece he did on debt-buying, and annoyed by this almost entirely accurate, albeit incomplete piece on cryptocurrencies.
It was in this episode we were first introduced to RIP Medical Debt, and the concept of buying debt at a bulk-discount, to wipe away a multiple of the money we raise.
On Tuesday we prove to this retired Pastor that the power of magic internet money can be harnessed for Good. Praise be.
5. Our Channel Partners: Gitcoin, Giveth, RIP Medical Debt, BrightID, and BanklessDAO
So where is the money going?
63% of the Profits go to Public Goods
- 16.5% to Gitcoin — the first $50k goes to joining the Funder’s League. The remainder will be put in a DAO where Rainbow Rolls holders will have a say in which Grants to fund during matching rounds.
- 16.5% to Giveth — the first $50k will be given directly to the Giveth team for them to determine how to allocate it. The remainder will be put in a DAO where Rainbow Rolls holders will have a say in which projects to fund.
- 20% to RIP Medical Debt —RIP Medical Debt buys medical debt from hospitals and collectors at a steep discount, then wipes it away. On average, $100 donated to RIP Medical Debt = $10,000 in wipeable debt. At the current market rate for ETH (~$3600) our mint should raise almost $1,000,000 which would wipe away almost $100M in medical debt.
- 10% to a DAO — 10% of all profits will be directed to a DAO that, while earmarked for charitable giving, will be under the control of the Rainbow Roll holders by token-voting. There will be a monthly meeting to get together, discuss possible recipients, and then vote.
- 30% for the team — smart contracts, figmas, websites, memes, copy, poop-tweets, community-building, and art that is cute af ain’t cheap, ya know. We were able to distract some of the top talent from across the industry for almost 6 weeks with no guarantee they would see a dime in exchange for their blood, sweat, and tears?--if you were wondering how we did it- properly compensating talented people for their work is how.
- 7% for marketing — We have some amazing plans, some of which have already been implemented. We’re giving away Pelotons, custom squatty potties, top-shelf smart-bidet toilets, NFTs, and maybe even a 2007 Kia Sedona?
Some back of the napkin math
- Minting 1 Rainbow Roll is 0.1337 ETH, which at ~$3600 = $481
- 20% of $481 is $96.2.
- RIP Medical Debt can wipe away debt at ~1:100 ratio
- $96.2 donated to RIP Medical Debt = $9,620
- You minting 1 Rainbow Roll = $9,620 worth of medical debt we can wipe off the face of the planet.
That may not be a lot of money to you, but to a real family, out in the meat space we’re all pretending not to live in anymore.. to a real family struggling to get out from under medical bills, $10k off their burden is a metric fuckton of relief.
In exchange for a cute piece of art to grace your Open Sea portfolio, you’re entering for a chance to win some great prizes, you’re wiping away almost $10k in medical debt per mint, and you’re also sending $80 to Gitcoin and $80 to Giveth.
One last bit of math before you move on to the next section: if we mint all 10k, it ends up being almost $975,000 raised for RIP Medical Debt, which means, with any action on the secondary market at all, we’re going to be able to wipe away over $100,000,000 worth of medical debt. Tell me that isn’t powerful. Tell me you don’t want to be a part of that. Hop into the discord, invite your friends, and let’s mint the fuck out of these Rainbow Rolls: For Public Goods.
What are rainbow rolls?
Rainbow Rolls a have 11 generative categories:
- Roll Pattern
- Frame Color
- Eyes Top
- Mouth Top
- Eyes Bottom
- Mouth Bottom
Every single one of these cuties is unique.
“More than just toilet paper, I like to think of Rainbow Rolls as a no-loss lottery ticket for public goods” ~0xJoshua
In the service of Public Goods, the NFTP team will continue to churn out content, contests, and incentives to not only holding a Rainbow Roll in your wallet, but also buying/selling them. Unlike boomers at the beginning of the Covid pandemic, you should not hoard ungodly quantities of toilet paper.
24h before minting becomes available to the general public, a relatively small whitelist will have access to mint up to 1,420 / 10,000 Rainbow Rolls. In this section I’ll list which community’s tokens were white-listed and why. For the vast majority of these, the answer is going to be “this project and their community members support Public Goods, therefore, we’re giving a little something back in the form of gas-war avoidance. A slight perversion of Vitalik’s idea to retroactively incentivize public goods funding.
But here you go, the whitelist and quantity of whitelisted token you need to have in your wallet to be able to mint during the pre-mint period.
If you have the right quantity of any of these tokens in your wallet during the 24h period before the public minting on Tuesday, October 12, at 4:20pm EST, you’ll be able to mint. (Tl;dr: there is no snapshot, so if you want to gain access to minting, you can acquire one of the minimum requirements to whitelist your address):
Another stellar project by Austin Griffith.
A perfect clone of the Moonshot, good open source code is meant to be forked, the funds raised all still fund Public Goods. Win-Win in our book.
Bored Ape Yacht Club: 1
These guys know how to build community and community is the backbone of Public Goods funding. We’ve seen tremendous efforts from the BAYC community to build a culture around PFPs that kickstarted a movement.
LandDAO: 1 Land or 1 Genesis
LandDAO is a revolutionary curation platform helping onboard established artists to the NFT space. Their community has been very supportive of Rainbow Rolls and we’re happy to give back.
Heroes of Evermore: 1
We like these guys.
A noble attempt to raise recurring income for GitcoinDAO out of the LP fees.
BanklessDAO is an outstanding onboarding mechanism and education experience for newcomers to the Web3 way of life.
Gitcoin is a Major General in the war against Moloch.
Sybil attacks are awful and happen constantly, building tooling to help DAOs improve sybil resistance is a noble quest.
Panvala has been helping fund Ethereum’s open source projects for years now through clever token mechanics and Gitcoin matching rounds.
DeFi-Nation is another great educational resource for newcomers and their token gives entry to an advanced group where you can discuss DeFi without fear of “wen moon” and “pls add liquidity” attacks.
We included $COIN as a nod to the community members who support the stalwart pioneer, Coin Artist
BadgerDAO has helped bring billions of dollars in Bitcoin to DeFi, helping cement the EVM as the center of the metaverse.
MetaGame is an outstanding on-ramp for newcomers to really dig in and get their hands dirty. Learn by doing. Supporters of MetaGame are the lifeblood of every rookie class.
As a species, climate change is the greatest challenge we face, Moloch’s silver bullet to end humanity. KlimaDAO is doing great work with coordination efforts in the Carbon Credits space.
Pre-mint starts Monday, October 11 at 4:20pm EST
Public mint starts Tuesday, October 12 at 4:20pm EST
Reminder to tune into the live broadcast an hour before the public mint featuring Leadership from Rainbow Rolls, Gitcoin, Giveth, BrightID, RIP Medical Debt, and BanklessDAO to talk about Public Goods funding and the direct impact that this NFT project will have on tens of thousands of people.