The purpose of the project is to bring to market a simple commercialization of the Doodles universe within the framework of an IRL channel that already has distribution, scale and economic activity which is largely dependent on unique visual components that help drive value.
The idea is simply to kickoff a series of children’s books with the intention of bringing to life different Doodles, making use of their unique traits as seeds for lore/story, and to follow the Doodles aesthetic such that the brand can begin to gain mindshare with young audiences whose growing interest in Doodles can compound into future projects like toys, movies and so on.
We chose a children’s book because it is effectively a waterfall project: the inputs and outputs are generally pretty known and there isn’t a need to reinvent the wheel. Only execute.
The general mechanism will be to sell direct-to-consumer via a Shopify storefront and to raise some funds either from the community (in a private mint) or through Doodlebank to power and launch the project.
Provided a successful pilot, the idea would be to persist these children’s books and to release different chapters based on traits, themes or anything else in between.
By and large, the main benefit we’re after is the ability for a given Doodle to perceived commercialized value from the IP that Doodle represents. In this case, it’s an opt-in project enabling anyone who owns a Doodle to allow this project to use the Doodle within its story in exchange for a share in the ongoing net proceeds this project will produce.
On an ongoing basis, the revenue split would look something like
- 80% of net profits split among Doodles
- 10% to Doodlebank
- 10% to project team
The budget allocation is to be determined for now
The endgame is to have a self-sustaining, bootstrapped business that can repeatedly release new and innovative content derived directly from the collection, with an equally self-sustaining and recurring benefit for any Doodle involved.
An alternative approach might aim to include all 10,000 Doodles into the project as a low-level benefit of owning a Doodle outright, rather than being opt-in. This would likely be the case provided the project were to be fully funded from the Doodlebank.
General mechanism & process
- Source ~50 high-rarity doodles, outreach to owners, request access to IP from which to create bedtime stories. These 50 doodles would receive direct sale royalties from the book their Doodle is featured in
- A Doodles-exclusive private sale aiming to raise 100-150 ETH from within the community (and/or Doodlebank). The total amount should be based on the expected costs to get the project launched + a small team reward for executing the project.
- Any Doodle who buys into the private sale gets pro rated revenue share from the book moving forward (each edition funded separately), separate from royalty payments going to owners of Doodles used in the stories
- The proceeds are used to produce the content, source means of production, publishing to retailers and marketing for a go to market direct-to-consumer via a Shopify storefront
General order of execution
- source production/print-on-demand partner, get idea of cost per unit + economies of scale thresholds
- bring on 1-2 artists who own doodles and already make fan art, and kickoff content production
- model the mint, price it, get an idea of how much is needed to produce first batch, build a site and queue up some ad budget
- mint 200-300 royalty tokens at 0.5 eth each. We raise 100-150 eth for production and marketing. 80% goes to project, 10% goes to team, 10% goes to doodlebank. Mint is only available to existing doodles owners. Must have a doodle to mint.
- design and produce first batch of books, ideally print-on-demand as we sell
- launch ecommerce and GTM with ads + sell direct to community as well
- distribute profits (converted to ETH) every month to participants and doodlebank
- repeat by releasing more books/chapters with other doodles and/or trait-focused stories. Aim to release a new book every quarter
Looking for initial feedback.
Happy to organize these thoughts into a deck instead. Just wanted to get it out of my head for now.
Open to ALL ideas and feedback. I just want to execute on something that will create 3-way value for the ecosystem.