Rug Radio Town Hall Notes - July 19th🎙️
In this edition of the Rug Radio Town Hall, we have a bunch of updates around our tech, DAO, and financials. Plus, we answer questions from the community!
gm fam! It’s been a while, but we’re back with our monthly Town Hall.
In less than 5 minutes, this recap will get you caught up on everything we've been up to over the past month. You can also see the entire replay on YouTube!
Here's what we've got in this month’s Town Hall...
Quick financial update💰
Core Content App
Our Core Content App is one of our most ambitious projects, and we’re set for a launch in Q4 (October - December) later this year.
Vision: Diversify and aggregate all of our content into a single app to make it easier for anyone to consume our content, creators to view their analytics, and allow us to reward users for their participation.
Challenge: Twitter’s API changes have made integrating content from Twitter challenging, we’re always trying to find ways to make that happen.
Monetization: Through our content app, we’ll be able to generate revenue via ads with the goal of making sure they align with the interests of the person viewing the content.
During our next Town Hall, we should be ready to share a sneak peak!
$RUG and $RDAO Claim Page
Our new $RUG and $RDAO claim dashboard is now fully functional with features including:
Claiming accumulated $RUG tokens from Genesis NFTs
Swapping $RUG tokens to $RDAO tokens to participate in governance
Rug Checker to see how much $RUG a Genesis NFT(s) has unclaimed and a direct link to purchase on the Rug Radio marketplace
Content Competition: Starting next Monday, we’re going to take $1,500 ($250 per week) of our unused media budget and, over the next 6 weeks, host a community-generated content competition with prizes of $150 for 1st place and $50 for 2nd and 3rd place. More information will be coming next week about how to get involved!
Upcoming new proposals and current initiatives
Revised Council Framework that will break down roles, responsibilities, SOPs, etc of the DAO council
Engagement committee: Create a strategy to help the broader community learn more about the DAO and increase participation
Prop house committee: An avenue for DAO members to get their ideas funded via community voting
Small grants committee: An avenue for DAO members to get their ideas funded through a formal proposal process that is reviewed by the DAO council
Community outreach: Inspired by Frank DeGod’s focus on the NFT holder journey, members of the council are going to start interviewing RDAO holders to get more insight about their journey to becoming a DAO participant.
Goal: Get insight into the DAO participant journey and use it to develop a strategy to increase involvement.
Quick financial update: Since January 1st, we have generated over $1.86 million in revenue from sponsorships, events, and other sources.
Loxley breaks down how we have managed to achieve those numbers, even throughout a market downturn, and how we intend to continue maintaining that momentum.
Building, building, building. 🛠️
Co-CEO @Loxley_eth breaks down the path that Rug Radio has taken to solidify ourselves as a prominent media company with rock solid business fundamentals.
— Rug Radio (@RugRadio)
Jul 19, 2023
Q1: Do you feel that you can match/increase the revenue for the next 6 months so the full year revenue is $3.5 million?
A1: We have a number of creators joining us that will open up additional avenues of revenue generation. Also, we’re working with repeat partners which will allow for monthly and annually recurring revenue.
Q2: When will Rug Radio launch a morning show aimed at MENA (Middle East and North Africa)?
A2: Michaela (aka. Mika) is based in the Dubai and has been growing a strong community in that region. While she’s in Canada for the summer, she’ll be back in Dubai later this year hosting shows at MENA friendly times.
Q3: When will we get Rug Radio Merch?
A3: We only want to give our community the best, and we’ve been working with a team to design high quality merch that we feel everyone would be proud to wear. This hasn’t been a top priority as we’ve been focused on media, tech, and growing the brand, but it is in the works!
Q4: How do we proceed with new creators? It was said that big new creators will join the platform, what is the reason that goes slower than expected?
A4: We’ve onboarded a lot of creators who aren’t official yet, are working with to build a proper brand, and have been working with several behind-the-scenes on sales admin.
We’re also revamping the entire creator program with a big creator call on August 5th. Once we launch the new creator format and tech, we’ll be able to onboard tons of new creators and effectively manage the program.
If you’re interested in becoming a creator, sign up on the Creator Portal and you’ll be first to know when new applications are open!
Q5: How did the numbers develop since the GM show is live on 2 platforms? Did we get less relevant on Twitter with that move and have overall lower numbers?
A5: We’ve seen significant growth with watch time on YouTube, and viewership split between both YouTube and Twitter Spaces.
Q6: Where are we at with the L2E platform?
A6: The platform is ready to go! If you’re an expert in any field fill out of the become a creator form and mention that you want to create content for the L2E platform.