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About
End User Experience & Adoption
The Rug icon

The Rug

Project

0x38...8dDf
paragraph.xyz

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.

Contribution links

    codeBracketSquare

    Sample NFT mint of article "El Salvador to Mint Its Constitution as Ordinal NFT"

    codeBracketSquare

    Sample NFT mint of article "Second Judge Rules the Shrug Emoji Nullifies Any..."

    codeBracketSquare

    Sample NFT mint of article "Gensler Says NFTs are a Gateway Token"

    codeBracketSquare

    The Rug premium subscription NFT

    codeBracketSquare

    The Rug Crew monthly collectable NFT (August 2023)

    world

    The Rug's Twitter feed, which advertises articles to collect on Optimism.

    world

    Episode of the Mostly Credible News, which also points to Optimism articles.

    world

    The Rug articles collected on Optimism have been advertised on the Bankless pod.

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.

Impact Metrics

  • Total NFTs Collected (90+ contracts)
    630
  • Email Subscribers
    540
  • Twitter Followers
    4.8K
  • Telegram Subscribers
    94
  • Mirror Articles
    67
  • Paragraph Articles
    25
  • 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