Thinking about drop mechanics

Thinking about drop mechanics

Over the past couple of weeks I’ve had the good fortune of being able to chat to some incredibly smart people about everything GEN.ART.

And with the imminent launch of the DAO Platform, the discussions couldn’t have come at a better time. As we pass the reins over to the members - I wanted to frame some of my thoughts for what I think works for GEN.ART, at this juncture and snapshot in time.

One core topic that will always be debated, and moulded to suit the macro context will be the 5,100 membership passes. One of the core tenets when launching - we wanted to create a walled garden that would not only nurture and foster relationships between members, and artists. But also give some sort of guarantee to art where you don't have to be in the right place at the right time, and spend an inordinate amount on gas.

That’s where we came up with the notion of having at least one drop per month that is obtainable by the whole membership base - a 5,500 drop. Standard Members being able to mint one artwork, and Gold Members being able to mint five.

We still very much believe in this, even though we’ve been experimenting with smaller drops over the past month or so.

The smaller drops have been very well received, and I think showed to the world what we’re capable of. Also reinforcing that there’s beauty in scarcity.

So where does this leave us going forward?

My thoughts are that each month we’ll continue to have our 5,500 drops - making them economical (or potentially free - just paying gas). This would serve as a membership benefit, guaranteeing members to get amazing new art each month. It would reduce concerns about secondary sales on collections with large mint sizes, and would be a way for unminted memberships to potentially increase in value over time.

It’s also worth noting that we have around 2,100 members holding the 5,100 memberships. With this context you’ll be able to see that a 5,500 mint size will rarely ever approach that number.

And as for the Drop Collection, that remains what it is currently. Smaller drops, with a double layer of exclusivity - you need to be a GEN.ART member and you be there at the drop date and time. Using both Astratta and Toha as case studies, we didn’t see anyone needing to pay above-average gas - right past the 999th mint. If this does change with time, we can dial up (or down) the number of mints in a collection to find the right balance. Perhaps that is 1,250 on a hotly anticipated drop.

Then we have the added dimension that DeFi and $GENART can provide. Everything around staking that many members have spoken about in the past. Intentions are reasonably easily controlled through incentives. So if we’ll always have these tools in our arsenal should we choose to explore.

A quick post for today, just to give a little bit more context about what we’re thinking as we announce these drops for December. I’ll end by reiterating the message I always want you to take away - none of this is permanent, and everything is up for debate. So if you disagree with any of the above, take time to write a methodical memo and pose it to the members in Discord.

Subscribe to GEN.ART

Don’t miss out on the latest issues. Sign up now to get access to the library of members-only issues.