GIVcuration and NFT incorporation Ideas/Brainstorming

I have some great ideas around project curation and how we can incorporate NFT’s within the platform.
I wanted to take a moment to document them here to spark some conversation around them.
Link to current issue for GIVcuration spec (WIP): https://github.com/Giveth/GIVeconomy/issues/416

Project Curation

Okay… so the original thoughts, as I remember them, were that GIV token holders can stake their GIV behind a project to curate it on the projects page, affect the amount of GIVbacks offered for donations to that project. become an investor in that projects success, and to eventually replace the centralized verification system. What if there was a fun way to do this that incorporates NFT’s?

Check it out!

Original thought: donors stake GIV tokens behind a project - tokens to be held somewhere to leverage interest using GIVfi.

Incorporate NFT’s: Each project/organization has a unique NFT. Donors could mint that project’s NFT using only GIV - Tokens can still be leveraged for interest in the same way as the original thought. - Conditions of minting process could be programmed so that each time an NFT from that project is minted, the cost of the next one minted is higher than that of the last. this would discourage whales from gaming the curation as well and encourage curation diversity among different projects

The NFT’s could get better or more rare once a certain number of mints is reached for that project. So say each project has different levels when it comes to curation. Lets say Level 1, 2, and 3 to keep it simple. A project that has had 1-5 NFT mints is L1, 5-25 mints is L2 and 25-40 mints is L3. Each level of NFT could have different art… the L1 could be fairly simple or just the project’s logo, the L2 NFT could be something a bit more complex or detailed, and maybe the L3 NFT could be animated or something.

Users could still ‘unstake tokens’ as in the original thought, however, they would need to “burn” their NFT to get their tokens back. this would encourage more sound decision making and value-alignment between staker/minter and the project that they are staking behind. People would not be staking/unstaking here and there and would likely not want to relinquish their cool NFT or investment in the project.

Okay so this is where GURVES come into play… so once a project reaches L3 and has 40 mints of their NFT, this makes them eligible to receive a GURVE. At this point, each time one of that project’s NFTs is minted, the tokens would go into the bonding curve instead of being leveraged for interest. I assume we would need to use a different contract for minting the NFT’s or whatever but either the project gets new GURVE NFT art or we just use the same art as the L3 NFT… this would gamify the system for both donors and project owners - projects would direct all donations to Giveth so that they can level up and get their own micro-economy and donors would receive cooler and better NFT’s as well as become invested in the project’s success.

Other ways we can incorporate NFT’s:

  • The project gets an NFT upon their first donation
  • The project could receive a badass NFT once they reach a certain funding goal
  • Category based NFT’s - once you donate to 3 different projects that are in the ‘animals’ category, you would receive an ‘animal advocate’ NFT or something this would encourage donors to diversify donations to multiple projects working toward the same cause
  • First donor to a project receives an NFT
  • Donors of $100 or more to verified projects in each GIVbacks round
4 Likes

Very cool idea! Would any gGIV be created in the minting/staking process? If so whose wallet would it go to (e.g. the minter, the project/org)?

3 Likes

love this concept @WhyldWanderer!! I think this is an awesome evolution to GIVcuration. So much more fun to stake behind a project if you’re also getting cool NFTs that you can show off that create a portfolio of the projects/causes you believe in. Also some really fun gamification there; love that it incentivizes people to be early supporters and be able to represent their early support in a project via an NFT.

Re: other ways we can incorporate NFTs -
Also really bullish on the concept of minting NFTs for donations, especially NFTs that represent provable impact. We’ve seen a lot of awesome projects working on this (DoinGud, DeSci, ImpactApp, Endangered Tokens just to name a few), and I think it would be so cool if Giveth enabled projects to plug in their own NFTs that would get minted and sent to a donor upon a donation event (and for example, let projects configure things like which NFT someone gets when they donate at various donation levels (and whether it’s randomized), how many NFTs are available, upload their artwork, and not have to build out their own ui/ux or contracts for this, but ideally be able to plug them in if they do already have them). Just some thoughts; In general I love the concept of receiving NFTs when you do good that you can only get by Doin Gud

5 Likes

I like the concept a lot, i think it should be a second curation solution instead of replacing the current TCR style solution (which I feel comfortable making it cross chain viable solution and building a cool/simple voting solution on top of) I think it can be complementary to it… We really need an NFT crew that can jive with these ideas and implement them… I don’t really know enough about the details to pull it off.

4 Likes

Hey @WhyldWanderer ! Really cool ideas. I think there’s a lot to explore here and I like the idea of using NFTs with Giveth. I think we should start with small scope ideas, to gain experience on implementing NFTs… Things like giving the top donor in each GIVback round a sweet NFT. We have some ideas starting on that here and Pavle started a group for some discussion (DM me people if you want in!)

I’ve been working a lot of the GIVcuration spec, and the plan is to implement it as a another layer on top of ths system we already created. Staking & locking, earning a yield, using tokens to gain voting power in the GIVgarden, delegation. You can read the spec here.

Timeline for this would be to implement before our current GIVfarm rewards are over… so we have 17 weeks to get it up and running (+2 weeks to bring it in)… I agree w Griff that it would great to explore NFTs as a method of curation, but as a separate piece… not part of the current GIVcuration system we are working on … There are just too many questions/variables in a limited time. I wouldn’t even know where to start.

Also, the idea with GIVcuration MVP is actually not to leverage the staked tokens to earn a yield via GIVfi… the only tokens being staked for GIVcuration are GIV tokens so we can’t exactly earn a yield off of just GIV and then buy GIV to send to the GIVgarden (as is the plan for GIVfi)

I think it’s a really cool idea to have NFTs for each project though… and donors can mint them by donating (as per @willy 's comment). Having projects put their own NFTs up… and plug them into Giveth somehow… really cool.

We could also explore Doin Gud and some kind of collab…

But… can we start with just making NFTs for top donors in GIVbacks rounds? I think this is a super small proof of concept NFT exploration… and I really think we should start there.

3 Likes

Great points @Griff and @karmaticacid on the current challenges with implementing this across chains as well as staying focused on the GIVcuration MVP, which we’re aiming to have live in 17 weeks.

I still really like this idea as well as the broader idea of incorporating NFTs, but agree that it shouldn’t replace the GIVcuration MVP for the above reasons.

+1 for an NFT crew to help brainstorm and implement awesome ideas like this. While I’d love to learn more, I don’t know enough about NFTs to feel comfortable having any strong opinions. Doin Gud is amazing, and also Impact App, Desci, Rainbow Rolls, and Endangered Tokens are some of the other cool projects in the GIViverse that I’m sure would be happy to help whenever we’re ready. Gitcoin has done some cool NFT stuff too and probably has some community members that would be willing to help out.

3 Likes

Hello, how are you, I am currently actively participating in the creation of Nfbeez in 1hive, a project that brought together various designers from different dao and projects, including 1Hive, Agave, Shapeshift, Gardens, GuStakes, Gitcoin, Tec’s, xDaiPunks.

I think that the idea of creating nfts for use cases or memorials is excellent, although at the same time it could give a touch of joy and happiness to the owners, be it through minting or recognition!

It would be good to see in the not too distant future a more concrete idea about some nft project here, in particular they could give the community “Artists or designers to create a pet to giveth” that power to integrate them and create is really special.

Good Vibes :blue_heart: Giveth Community

1 Like