End User Experience & Adoption
The Rug icon

The Rug

Project

0x38...8dDf

The Rug is crypto's premier news satire outfit. We take money, seriously.

Appears in
10 ballots

Contribution

Being optimistic without humor is like being pessimistic without the ability to make everyone around you deeply depressed. If the goal is to build a thriving, happy Optimism community, it is certainly going to require some funny stuff. Otherwise, we’re going to end up with a bunch of depressed builders who wonder why the heck they are working so hard in a bear market when they could just strike up a Faustian deal with Wells Fargo, Google, or Facebook. The Rug’s content has been offered for free via near-daily Twitter posts, and more recently, self-published articles on Paragraph that only require a free subscription to read. Prior to using Paragraph, The Rug published its articles on Mirror, and has used Optimism for minting NFTs of the articles on both platforms since February 2022.

Impact

We have evidence that The Rug has made a positive impact on Optimists. As early adopters on mirror.xyz, we procured a custom subdomain (therug.mirror.xyz) and were off to the races. We’ve been minting exclusively on Optimism since February 7th, 2022, with 92 satirical news articles, over 625 limited edition collects, generating 1.27 ETH selling at .002 ETH for each NFT. The Rug directly enhances end-user adoption of Optimism by driving the collection of NFTs on-chain. Indirectly, The Rug is building an Optimisitc community through humor and satire, making poignant observations about crypto, and enhancing the experience of DeFi users more broadly.

Funding sources

RetroPGF 2
The Rug received OP as part of the BanklessDAO application for RetroGPF 2
2,756.00 OP
Other
The Rug has received 3.4M BANK token from BanklessDAO since Jan 2023
10,200.00 USD
Revenue
Revenue from NFT sales (usually at .002 ETH) has generated about 1.27 ETH
2,100.00 USD