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
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