#56 Rainbow Rolls
How to give back and help others using NFTs
Check out the Foot Guns Cheat Sheet to learn where the Bitcoin and Eth prices are headed.
Cheat Sheet is free today. Enjoy.
On-Chain Analysis
You’ve probably heard us or others talk about on-chain analysis where people analyze the behaviors of public crypto wallets on the Bitcoin (or other) blockchain to predict where the price will go. This has been somewhat controversial because the on-chain analysts have basically just said BTC will go up, and they all missed the pull back at $64k in April.
Another interesting way on-chain analysis has been used (mainly on Ethereum network) is to look at the behaviors of public addresses when considering launching your own crypto token. For example, here at Foot Guns we have created our own token FGNEWS, and over the last months we airdropped these tokens to readers who subscribed to this newsletter and sent us a public Ethereum address. The reason we did this is to build a community on-chain with identifiable actors. We (and others) can see your on-chain behavior and reward it when it aligns with the community.
We recently discovered this NFT project called Rainbow Rolls. Because of our on-chain behavior we were white listed to be an early minted of this NFT and of course we minted one. What’s a Rainbow Roll?
To fund Public Goods. We got tired of seeing reductive thematic cash-grabs. We kind of wanted to prove that people would mint anything based on the right market constraints of peer pressure, FOMO, and cute art. More importantly, we wanted to do it for Public Goods. We set off on a mission to raise money for Public Goods, in the footsteps of Moonshotbots, but not on a price curve.
If you go mint a Rainbow Roll you will receive an NFT, but you will also be donating to help others. Twenty percent of the donations go to RIP medical debt, 20% of .1337 ETH means .02674 ETH per mint, but this has an effective resolution of approximately 9x that amount or 0.24066ETH per mint. Gitcoin and Giveth also get 16% each mint, 0.021392ETH each.
Another aspect of this mint is your public Ethereum address will forever be marked as charitable because you hold this NFT and there is a record of you minting it. This means that future blockchain projects can look on-chain to see who the people were who minted rainbow rolls and send early invitations to their project because you have shown supportive behavior. It is an interesting topic to ponder. What could a world look like where capital can be more easily directed to help others, and those that provide the help are incentivized to provide the help?
Mint To Give Back
We have ~6000 FGNEWS tokens left over from our airdrop, currently valued at ~$2000 USD at current trading price. If anyone mints a Rainbow Roll NFT and sends us your public address (reply to this post or footgunzpod@gmail.com) holding the NFT we will send you 200 FGNEWS tokens.
If you have issues with this substack custom button, here’s a hyper link nftp.fun
This offer ends on October 23rd after which any remaining tokens will be evenly distributed to all FGNEWS token holders along with the tokens Foot Guns will buy back before October 30th with its quarterly profits.
We will be also be announcing the winner of this Foot Guns NFT raffle in the coming days.
