RRC [XX] - Reviving NFT Activity on Rari Chain (currently working on improved version of proposal based on feedback and recommendations)

Proposals Parent DAO Proposals
#1

*this is the first version of the proposal forged by @dzonson.eth and @forexus. We want to gather community feedback on it and eventually create ultimate version :slight_smile: PLEASE comment and share thoughts :purple_heart:

Abstract
Rari Chain, as a critical product of the Rari DAO ecosystem and closely tied to the Rarible NFT Marketplace, is underperforming in its primary function—fostering vibrant NFT activity. Despite its promise of providing a cost-effective and royalty-centric alternative to Ethereum’s mainnet, Rari Chain NFT collections currently lack significant user interaction, trading volume, and meaningful floor prices. Monthly volumes barely reach a few hundred dollars, an outcome that is unacceptable given the project’s potential. To address this issue, we propose a gamified initiative aimed at revitalizing the ecosystem by incentivizing user interaction with Rari Chain NFTs through structured and engaging seasonal quests.

Motivation

The current state of Rari Chain is dire:

  • Low NFT activity: Collections show negligible floor prices and lack trading volume.
  • No organic growth: The platform’s state deters creators and collectors alike from engaging.
  • Missed opportunity: Affordable NFT interactions and unique royalty features remain underutilized.

Given these challenges, our proposal seeks to directly address these issues by introducing an incentive-driven, gamified approach that stimulates user interaction and engagement with Rari Chain NFTs. This initiative aims to create a foundation for long-term growth, preparing the platform for the next bull market in the NFT space.

Proposed Solution

We propose a Seasonal Gamified Program modeled after the proven success of DeFi Weeks and the quest systems used on platforms like Superboard.

Key Elements

  1. Gamified Quests
  • Tasks include:
    • “Buy an NFT from a specific collection.”
    • “Provide liquidity for a collection.”
    • “Hold X items from a collection.”
    • “Use X platform to create X collection.”
    • “Reach 0.1 ETH volume,” etc.
    • ‘’Retweet on X’’
  • Dynamic and creative quests to encourage repeated engagement.
  • Leveraging the Superboard platform for its speed, reliability, and creative flexibility.
  1. Seasonal Structure
  • Minimum two-month duration per season.
  • Iterative improvements between seasons based on user feedback and results.
  • Sporadic release of quests to maintain consistent user engagement.
  1. Initial Incentives
  • 50,000 $RARI tokens allocated as rewards for Season 1.
  • Development costs for quest programming (~$5,000 $RARI, to be detailed before finalizing the proposal).
  • Compensation for program creation and supervision (~$8,000 $RARI).
  1. Community Engagement
  • Reviving previously funded collections (e.g., those awarded $1,000 during DeFi Weeks) through targeted quests.
  • Promoting long-term user loyalty by creating a fun and rewarding experience.
  1. Public Working Group
  • Create a public working group where community members can participate in ideation and contribute to quest designs.
  • High-performing contributors will be considered for inclusion in the core team for Season 2.

KPI Metrics and Expectations

While immediate profitability is not the goal, the program will focus on key performance indicators (KPIs) that measure growth and engagement:

  1. User Growth:
  • Target: Onboard at least 1,000 active users interacting with quests during Season 1.
  1. NFT Activity:
  • Target: Achieve a 10x increase in monthly minting and trading volumes (baseline: a few hundred dollars).
  1. Community Development:
  • Target: Foster a strong and engaged community through social media and platform metrics (e.g., Discord and Twitter engagement).
  1. Revenue Projections:
  • Long-term goal: Increase minting fees and Rarible trading fees through sustained ecosystem growth.

Implementation Timeline

  • November: Finalize proposal and gather community feedback.
  • December: Deploy initial development of quests on Superboard.
  • January–February: Launch Season 1 with an active promotional campaign.
  • March: Review results, collect feedback, and iterate for Season 2.

Financial Overview

  1. Incentives:
  • 50,000 $RARI for Season 1 rewards.
  1. Development Costs:
  • Quest programming: $5,000 $RARI (estimated, needs to be confirmed with Rari Team how much quests development costed them in DeFi Weeks).
  1. Supervision and Maintenance:
  • Compensation for the core team/working group (Forexus, Dzonson & Rari Team members): $8,000 $RARI.

Total Estimated Budget: 63,000 $RARI (~$100,000 USD)

Conclusion

This gamified initiative represents a strategic and creative solution to revive NFT activity on Rari Chain. While we do not anticipate immediate profitability, this program aims to attract users, build a robust community, and lay the groundwork for success in the upcoming bull market. By boosting engagement, minting, and trading volumes, we will position Rari Chain as a cornerstone of the NFT ecosystem and a key player on the Rarible platform.

Disclaimer

This proposal is for informational purposes only and does not constitute financial or legal advice. All projections and estimates are subject to adjustment based on DAO feedback and market conditions.

9 Likes
RARI DAO Weekly Highlights November 18-24, 2024
#2

I’ll be keeping an eye here, I’d really love to see the evolution of this prop.

1 Like
#3

Thanks for the draft @dzonson.eth and @forexus, appreciate the initiative. We need more ideas and discussions regarding RARI chain.

Do I understand correctly, that you suggest a continuation of the current Superboard initiative, or are the other tools/providers that you want to use as well?

1 Like
#4

I wholeheartedly agree that we need more ideas and discussions surrounding the Rari chain and NFTs, particularly to foster innovation and collaboration. I hope this draft inspires others to engage and contribute their thoughts. Together, as a community, we can achieve so much!

Regarding the Superboard, we intentionally didn’t include detailed information in the draft as we’re still in the process of gathering insights about their availability and costs for these specific tasks. Personally, I’m very eager to use them, as I’ve completed all quests on DeFi Days by Rari through their platform. Compared to Galxe, which was utilized in the last campaign, it’s a game-changer—easily 100 levels above! :smile: The platform is incredibly user-friendly, and most importantly, it’s fast and reliable.

Once we have clear feedback on the costs, I’ll update the draft accordingly and, if needed, explore alternative solutions.

1 Like
#5

It looks like a sound plan for nfts being down in mint or sail in my personal opinion and personal experience, I think a lot of it has to do with gas prices on ethereum I tried the other day just to mint a couple of free es and a dollar one and I And just for the two free ones they wanted me to pay $17 in gas. That price I said no. I mean yes you can come back later but who’s going to be that persistent if unless they really like to really, really, really like the piece. Most people just say oh no way and then they’ll go shopping somewhere else on a chain that has cheaper gas. It would be nice if there’s some way to offset the price of gas to drive more business and keep people from being discouraged with the amount they’re having to spend on moving one nft from one place to another

1 Like
#6

Thanks for putting up this proposal:

  • Have you considered which user actions will be rewarded, and how to prevent mercenary users from coming in, taking the rewards and then leaving to the next shiny thing?

  • As you mention in the conclusion, in the short term, you don’t anticipate profitability from this program. Could you elaborate further how does this proposal, then, foster revenue to the DAO in the long run?

  • Given the thin liquidity of Rari token markets, and considering most of the DAO treasury is denominated in Rari tokens, what impact do you expect from the program in terms of selling pressure? And have you considered incentivising actions performed using Rari token, which would provide some buying pressure instead?

1 Like
#7

Hey! Thanks so much for the feedback—it’s truly appreciated! Questions like these are invaluable in helping us refine the proposal, especially since, as mentioned, this is just the initial version.

  1. It’s not possible to completely prevent farmers from participating—that’s a reality in almost every campaign with rewards. My goal, however, is to convert these leads (farmers) into genuine users. Many of them already show some level of interest in NFTs. By offering a strong product and an engaging experience, and extending the campaign beyond just one month, I firmly believe we can turn them into legitimate users. Additionally, their participation helps boost volume and generate revenue. Even if some engage in wash trading, they’ll still pay full royalties and platform fees. Regarding the actions we want to incentivize, the focus will primarily be on creating specific collections, engaging in trading activities, completing social tasks, and more.

  2. In my opinion, NFTs should be the primary revenue stream for Rari Chain. Users are unlikely to flock here for yield farming, DeFi opportunities, or similar features. If NFTs generate no volume and have no presence on Rari Chain, I struggle to see how the chain could be sustainable. Establishing a strong foundation for NFTs is absolutely crucial for any meaningful revenue discussion. If we can breathe life into the NFT ecosystem, the DAO stands to gain from trading fees, minting fees, and more.

  3. That’s a fantastic point! In the last iteration of the proposal, we explored ideas around soft staking and using $RARI to boost collections. I’ll work on incorporating a version of this into the current proposal. Additionally, I’d greatly value any suggestions you or others might have on how we can enhance the utility of $RARI, particularly in relation to NFTs and this campaign. Thanks in advance!

1 Like
#8

Thanks for the clarification @dzonson.eth, look forward to an update regarding Superboard. I also liked the quests there. Layer3 is more expensive, I guess? They have the biggest user base among these NFT reward platforms, I think.

@Jose_StableLab Agree with your questions, especially paying rewards in RARI. Regarding mercenary users, the current quests are structured according to volume, so there’s less of an issue there.

1 Like
#9

This is an awesome initiative, and you’ll (both) have my full support! I’d love to see more activity on the Rari chain, especially in the NFT space, since I’m an artist myself, I’m excited about the idea and will eventually launch some pixel art when I can find the time! :eyes:

2 Likes
#10

I already know a great name for that :smiley: “The Raribles”

#11

Thanks for putting the proposal.
Personally i find the quests a bit forced engagement but i think anything that can boost traffic and move users on Rari chain will be a good move. How successful you have found it in the past ? Do we have some metrics of success of previous quests? or how can we improve previous activities making this one even better?

I wonder if its worth inviting some well known artists for example, to make edition drops to compliment this. I think Base had some mints like that and it moved people on chain.
I also think it would be great to have Manifold supporting Rari mints, as people are used to the platform. Might be good case for another proposal as well.

1 Like
#12

Hey, thanks so much for the feedback!

I completely agree with your point about involving artists. Behind the scenes, we’re actively working on onboarding artists with established followings from Base. This will not only encourage their audiences to bridge over but also spark interest in minting from their favorite creators.

In previous campaigns, we focused on Open Edition mints from lesser-known artists, which unfortunately didn’t perform as well as we had hoped. Moving forward, we’re aiming to limit collection sizes and collaborate with artists to introduce rarities and traits, making the offerings more appealing.

This initial proposal draft was intentionally straightforward because we wanted to gauge delegate feedback and sentiment before moving forward. A revised version is already in the works, and it will include a detailed explanation of why we chose quests over alternatives like leaderboards and points.

For context on the campaign’s impact, I recommend checking out https://mainnet.explorer.rarichain.org/ to view daily transaction stats. You can compare them to November 16, when quests were introduced during DeFi Weeks, to get a better sense of the traction we’re seeing with the current quest campaign.

2 Likes
#13

Thank you, the problem with this is at 30 Nov we were back to same floor. How can we make it more sustainable? Perhaps making longer season of multiple drops with some rewards at the end will keep users and collectors exploring Rari more or getting ready for next mint.

2 Likes
#14

The main issue, in my opinion, was that a significant portion of quests—about 70%—were made available right on Day 1. This led to participants completing them quickly, leaving little else to engage with afterward. There was no ongoing leaderboard grind or exciting activities to maintain interest.

The incentivized platforms focused mainly on bridging, swapping on DEXs, providing liquidity, and coin lending. While these platforms are valuable, they lack the element of fun and creativity needed to keep users engaged.

This is why I strongly believe that emphasizing NFTs could bring a fresh, creative dynamic. Integrating NFTs with popular artists, hosting collection competitions, and introducing social tasks could significantly enhance the experience.

Seasons could also be a great addition, but we should test this concept first to validate its potential before fully committing.

Can’t wait to see your comments on our updated proposal when we publish it. We really need engagement like yours to help us out. Only together as a community we can come up with the best version <3

2 Likes