This section will go over how we raise funds for the fellowship.
UNHRD is proud to introduce its innovative NFT drop initiative, designed to raise funds for the UNHRD Artist Grant Program. We’ll be using Transient Labs’s Doppelgänger contract. This initiative draws inspiration from the likes of Memecards by Punk 6529 and Noble Cards but is tailored specifically for artists. Here's a detailed breakdown of how we plan to raise funds through this unique approach.
What is Doppelgänger?
The Doppelgänger contract, designed by Transient Labs and Patrick Amadon, revolutionizes the concept of NFTs. Instead of a static representation, this contract allows a single ERC-721 token to store an array of images, enabling dynamic representation of the NFT through multiple artworks within a single token.
1. Dynamic Art Representation: Artists can add to the array of images, but subtraction is not permitted. This ensures a growing collection under a single token.
2. Collector Control: The owner of the NFT can use the exclusive doppelgang function to update the token URI, allowing them to choose which artwork from the array is displayed.
3. On-Chain Security: The contract is a pure Solidity construct on the Ethereum blockchain, ensuring durability and data integrity. It avoids third-party dependencies, ensuring the longevity of the artwork.
4. Decentralized Storage: The design incorporates IPFS and Arweave for decentralized storage, further enhancing the robustness of the system.
Overview of UNHRD NFT Drop:
UNHRD is set to harness the innovative capabilities of the Doppelgänger contract to create a unique NFT experience. This initiative will involve the collaboration of 8 handpicked artists, each contributing a distinct piece of art. These individual artworks will be amalgamated into a single NFT token, offering multiple editions that can be dynamically "cycled" by the token holder.
Artist Selection Process:
UNHRD will host an open call on Joyn to select 8 exceptional artists for the UNHRD Doppelganger initiative. The selection will be divided as follows:
5 Blue Chip Artists: Renowned artists who have already made significant marks in the space.
5 Up-and-Coming Artists: While they might be newer to the scene, these artists have shown immense promise and have already established a strong presence.
Each of these artists will be tasked with creating a unique Doppelganger NFT for the initiative.
For every NFT sold:
- 50% goes directly to the artist who created the artwork.
- 50% is channeled into the UNHRD Grant Fund.
All transactions related to this initiative will be conducted through a dedicated wallet: unhrd.eth.
How UNHRD Will Utilize Doppelganger for the NFT Drop:
The Doppelgänger NFT Experience:
Once all 5 artworks are curated, they will be integrated into a single ERC-721 token using the Doppelgänger contract. This will allow the NFT to store an array of these images, facilitating a dynamic representation of the token.
Dynamic Art Display: The NFT won't be static. Instead, it will offer a dynamic representation, allowing the token holder to cycle through the different artworks within the single token.
Artist Control: Artists have the freedom to decide what goes into the array. They can add to it, ensuring a growing collection under one token, but subtraction is not permitted.
Token Holder Control: The unique doppelgang function empowers the owner of the NFT. They can update the token URI, choosing which artwork from the array they wish to display at any given time.
This approach not only celebrates the individual talents of each artist but also emphasizes the collective strength of diverse artistic expressions. Token holders get a dynamic art experience, being able to switch between different artworks as per their mood or preference. It's like having an art gallery at one's fingertips, with the ability to choose which masterpiece to showcase at any given moment.
Artists have two options when it comes to the supply of the drop:
1. Open Edition: An unlimited number of these NFTs can be minted during a specified time frame.
2. Specified Amount: A fixed number of these NFTs will be minted, making them limited edition.
While the exact mint price is yet to be finalized, we aim for it to be in the range of 0.04 to 0.08 ETH.
Alternative Fundraising Methods for UNHRD
1. Donations (Click Link for Legal Info):
Nonprofit Status: UNHRD is in the process of obtaining nonprofit status. Once achieved, this will open up a plethora of opportunities for individuals and corporations to contribute to our cause.
Tax Benefits: Donors can benefit from their generosity. Donations made to UNHRD, once we secure our nonprofit status, can be used as tax write-offs. This not only encourages potential donors to contribute but also provides them with a financial incentive to do so.
How to Donate: Donations can be made directly through our official website in ETH/Crypto. We will ensure a transparent and seamless process for all donors, providing them with receipts and necessary documentation for tax purposes.
2. Artist Contributions:
Percentage of Sales: Artists who align with our mission and wish to contribute can opt to donate a percentage of their sales to UNHRD. This not only aids our cause but also allows artists to give back to the community and support fellow artists.
Flexible Contribution: We understand that every artist's financial situation is unique. Therefore, the percentage they choose to contribute can be flexible, ensuring it's feasible for them while still making a meaningful impact.
Promotion: Artists who contribute a portion of their sales will be highlighted on our platform, giving them additional visibility and showcasing their commitment to the cause.
Allocation Of Funds
The allocation of our resources is carefully structured to support various aspects of our project efficiently. The majority of our resources, amounting to 70%, are dedicated to the Grant Fund, which forms the core of our initiative. Exhibitions and Acquisitions each receive 10% of our funds, reflecting their significant but secondary role in our operations. The Team, essential for the smooth running of our projects, is allocated 5%. Lastly, we allocate 5% towards our Partners, recognizing their importance in the broader ecosystem of our project.