[PIP-56 Bis] Extend PLAY Scope - Rebalancing proposal from Chop & Alexintosh

A Rebalancing proposal from @Chop & @Alexintosh.

Summary:

NFTX & PieDAO team up to extend the scope of the $PLAY pie and bring to market the most comprehensive NFT/Gaming index in the market.

This proposal extends the scope of its’ predecessor which can be found here: [PIP-56] PLAY index creation

Reasoning

After posting the original PLAY Index draft proposal by @alexintosh, a lot of feedback/input has been given on extending the pie into a broader metaverse fund.

In February, the PieDAO team reached out to me (being an NFTX core team member) to discover opportunities for including high-quality NFT indices, as well as our own DAO governance token, into the PLAY Pie. Through these talks we’ve added:

  • Punk-Basic (Floor fund for CryptoPunks)
  • Mask (Floor fund of Hashmasks)
  • NFTX (Governance token of NFTX)
  • Rari (Governance token of Rarible)
  • SOCKS (The OG dynamically priced limited edition socks)

With this collaborative proposal, the goal is to make the best and broadest NFT index currently in the market. By expanding the scope of the PLAY to provide full exposure to all the different sectors of the NFT world by including infrastructure, collectibles, and art into the existing (original) allocation.

Collaboration

A collaboration between PieDAO and NFTX for launching the PLAY fund would mean:

  • PLAY will include floor funds created by NFTX, starting with what’s available today and adding more along the way once liquid enough (there are many additional funds, such as one for Autoglyphs, launching soon).
  • NFTX will keep creating liquid markets for NFTX/fund on SushiSwap, allowing PLAY to be easily mintable.
  • PieDAO will create liquid markets for DOUGH/PLAY.
  • PieDAO & NFTX will work together to promote PLAY.

Composition

MANA: 18.53%
ENJ: 18.53%
SAND: 12.28%
UOS: 10.05%
RFOX: 9.06%
AXS: 8.23%
NFTX: 6.40%
RARI: 4.42%
ATRI: 4.31%
GHST: 3.53%
SOCKS: 1.68%
MUST: 1.18%
PUNK-BASIC: 0.90%
MASK: 0.90%

15 Likes

A big welcome to @Chop representing the NFTX community.

I’ve been a fan of NFTX project since day zero and I know many other members of PieDAO feel the same and are strong supporters.

Working on this proposal with you has been a lot of fun and I’m more excited than ever about $PLAY.
:handshake::handshake::handshake:

7 Likes

Wow!!

Full support for this proposal, this is an absolute beast of a gaming NFT pie.

Really stoked to see a potential collaboration between PieDAO and NFTX, incredibly exciting opportunity.

The proposed floor funds are an incredible way to gain easy and liquid exposure to NFTs and I’m glad to see them included!

I’d like to see this pass and the collaboration evolve over time, with future NFT funds added as they become available! Amazing work @Chop and @alexintosh!

6 Likes
3 Likes

I bridged backed all my Dough so I can vote yes on proposals like this!

2 Likes

Love this proposal. Will this pie feature the standard PieVault 1% streaming fee to PieDao?

1 Like

Yes, fee structure does not change.

1 Like

I like the collaboration with NFTX, but I don’t neccesarily understand the synergy of something like PUNK-basic with a gaming pie.

What was the reason not to opt for the some of the gaming alternatives on NFTX? Is it due to float reasons?

I’m just very disappointed about 1 thing :sob:… I didn’t know that and I didn’t help :rofl:

That’s a super cool idea !!! Let’s do it. And super happy to see a collaboration like this !

1 Like

What about leaving PLAY for gaming related projects even ones that don’t rely on NFTs
Then instead create a separate Pie called COLLECT with these additions focusing on the collectable side of NFTs especially in the art and music space.

1 Like

I love this collaboration.

1 Like

This is a comprehensive Intro to NFT but I’m wondering why CHZ has been left out.

Its price has been consistently rising.

Is it not considered an NFT but more an ErC20 token?

The main reason is that two products require double the effort, the energy and the resources to market it.

Instead of fragmenting liquidity and focus we can instead aggregate the efforts and shall it be necessary spin off the NFT part into another pie later.

3 Likes

Was a bit dubious of combining both the gaming and NFT side, as was previously very sold on the pure gaming side!
Much more relaxed now, seeing the ratios involved. Think at that combination the pooled space will be very attractive! Very keen now, am hoarding my eth to one side for it…
Presume this requires another vote, any kind of timescale?

2 Likes

:ballot_box: Snapshot Vote To Signal support for this partial modification of PLAY.
Start date Mar 20, 2021, 12:00 PM
End date Mar 22, 2021, 12:00 PM
Snapshot 12,076,902

1 Like

I support the proposal, voted as such and really excited about the collaboration with NFTX. Whoever is behind the trailer also deserves a big shout out, that is some crisp and beautiful work. I will be picking up some of this pie once it’s released!

5 Likes

Big props to @Nico as always to the mad communication skills.

2 Likes

Is it possible to have PLAY hold a PLAY+NFT and a PLAY+GAME pie similar to how DeFi++ holds DeFi+L and DeFi+S? It would give users an option to invest in a pure games pie or a pure NFT pie if they choose. I think some users may prefer more exposure to one or the other.

I think the NFT space and Video game space are married at this point. To a large extent they can exist in a side chain, or layer two. Don’t necessarily need the security that the main network brings. They both need the ability to transact cheaply between peers etc.

2 Likes

See Alexintosh’s response above.

I am more interested in the gaming side of things but looking at the allocation I’m very comfortable with that small exposure to NFTs, even though I still find it ridiculous how much money people are willing to pay for socks and most NFTs.

2 Likes