GP11 NFT Rewards - Rand

This quarter, Rand will focus on enhancing Algorand’s visibility and status across popular aggregators, including Crypto Slam and DappRadar. Our strategy is to focus on one metric: Volume. By spotlighting volume, we aim to capture the attention of NFT fans outside our community. Let’s move up the rankings to make a noise and impact outside of Algorand.

Here is Rand’s proposal.


Thanks Ross

Visibility is good idea to target but I’m sure you know how hard it is to make a dent on those metric sites - I feel like we’d need our volume to go to $50-100k daily for even ‘mid’ NFT ecos notice… and I dont think thats realistic or likely to happen in this timeframe.

100,000A is only half a pudgy penguin sale after all.

It makes me wonder if the more exclusive approach of only 5 winners is the right way.

We’ve seen with more exclusive rewards less overall participation, and instead two or three people become very competitive (while everyone else gives up)… encourages manipulation, creates big unwanted bags (farming then dumping after winning)… which is overall net bad for the space.

A larger spread of rewards creates less erratic trading, and the rewards to collectors often flow back into more trades (rather than a single whale farming a big prize to cashout)… basically it acts more like a general stimi.


I agree with Stitch, smaller rewards for more would hopefully stop the manipulation.

Maybe something as simple as a kind of “cash-back” idea?

Get 1% of your buy back (obv with a cap per day/hour)


Imo go bigger.

All the pot.
One winner.
One week.

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To enhance visibility in popular aggregators we need all collectors in the ecosystem to participate. Even attracting collectors from other chains would be a great idea.

My suggestion would be to go for dynamic reward system where daily rewards are distributed based on a certain criteria along with one-time reward as described in the proposal.

This will make sure participation of smaller collectors (for daily rewards) and whales (one time reward).

Also sales will happen even for collections with smaller value and larger value which will increase our monthly volume as such.

As per my knowledge, cryptoslam calculate 24 hour data. so if we go for a one-time reward program, will we be able to generate considerable daily sales??

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This program seems pretty well thought out. The reward structure is very much in my favor of many collectors instead of one person winning which is pretty divisive. I’ve seen many members hate each other and throw fud because sales didn’t go well or because there was wash trading.

One problem is that maybe you can increase winners to 25 which seems more fair for the current market. Otherwise, you are giving too much money to too few people.

I love the 1% cashback idea, but 5% is better


I like the plan let’s see how much impact it will actually have.

I also urge you to prepare a detailed description on what constitutes a wash sale. Together with AxN you guys are representing majority of the NFT rewards, but are doing very little to prevent wash sales - you should do better.

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I justd asked the other matketplacd to do this. Is there a way to post the full proposal on this actual forum so we dont need gmail to read it and a dozen other benefits. Many thanks. Love your apple watch. Ross is the best.

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Looking at the data it’s clear rewards for a single creator each week is the most effective program. All marketplaces should do the same.

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almost 4am, got some other fun stuff to drop tomorrow, see you then algorand!!! :eyes:

Everyone following same strategy will not be effective.
It is effective because they are the only marketplace following it.
All marketplaces should have their own strategy focusing on a certain type of user.

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We appreciate the community bringing suspicious reward activity to our attention. For the remainder of the current rewards and moving into subsequent rewards, creators buying their own collection for any reason will be disqualified. Groups of individuals trading the same NFTs between themselves will also be disqualified.