There has been a lot of discussion in the past week+ about the form that brands and brand memberships now take - particularly as it pertains to $ROBOT. As we know, Wicked Sunday Club was introduced prior to the existence or idea of $ROBOT. It is, however, one of the core drivers for its creation. We wanted to open up access to and participation in our brand factories (and MF generally). Its creation also means that all Wicked Sunday Club members will soon become MetaFactory members as well.
Moving forward, it no longer makes sense to ‘sell’ a membership, but rather leverage $ROBOT as the gate and access. There are a handful of different access levels available including dedicated brand chat, access to the brand style guide (which enables the ability to submit product ideas), and the ability to submit a formal proposal for the brand.
Instead, I’m proposing that we provide access to a particular brand by staking $ROBOT. Keep brand chat access low, but set a fairly high barrier for access to style guide, ability to submit product ideas and proposals. Members would mint 1 $WSCT by locking up 1 $ROBOT. 10 $WSCT for chat access, 100 $WSCT for style guide, etc. $WSCT would be non-transferrable and utilized only for governance of the brand. WSC Members would vote on which WSC product proposals are best using their $WSCT via conviction voting. Once a predetermined threshold is hit, the product would go into production.
Previously, we had proposed the ability for MF members to lock up their $ROBOT to earn further governance weight. The easiest way to handle this would be to simply reward members with more $ROBOT. The longer you lock up your tokens, the more you receive.
Now let’s consider brands. If a member decides to stake their $ROBOT for $WSCT and Wicked Sunday Club sells a lot of products, should that member receive a greater share of the $ROBOT governance mining rewards? What if we allocate potential $ROBOT rewards according to how successful each brand is?
How about for products? What if voting (staking?) on a particular, popular (high selling) product’s creation would return higher rewards? Staking would return $ROBOT based on the success or popularity of an item in the store. The benefit of being a member of a particular brand is both the ability to leverage that brand’s style guide and participate in any rewards for products created. Members are challenged to participate in the most successful brands and vote on the most popular designs.
But wait, I know a DOPE designer that would be perfect to create a WSC product, but they don’t know much about crypto and/or have access to $ROBOT. What if $ROBOT holders could stake on behalf of others and sponsor their access to the style guide + product submission? In turn, those members would receive a percentage of any $ROBOT rewards earned by that designer. This also challenges our members to identify the greatest designers and pair them with right brands.
I see an opportunity for MF to provide a path and motivation for the creation of the best products from the best designers - all powered by the efforts and contribution of its members. Governance mining rewards the most engaged and savvy members for selecting the best selling products and enabling their creation.
I know this potential plan is ambitious and it makes sense for us to start simple and evolve. I definitely think we should consider approaching this in phases to allow for learning along the way (ie. platform staking -> brand staking -> product staking). This is just a first attempt to capture some of our thinking and discussion on the topic.
Looking forward to feedback from everyone.