Rug Radio Town Hall Notes - March 3rd🎙️
In this week's Town Hall, we present our 2nd quarterly report and introduce our new 6 month long range plan.
gm! Every two weeks on Friday at 3pm EST, we host our Town Hall on both Twitter Spaces and Youtube to let everyone know what we've been up to and what's next.
In 5 minutes or less, this recap will get you caught up on everything we've been up to in the past 2 weeks. You can also see the entire team in matching Rug Radio hoodies on the YouTube replay!
Here's what we've got in this week's Town Hall...
Presenting our 2nd quarterly report
Introducing our new 6 month Long Range Plan (LRP)
Creators and Rewards Updates from Jess
Community Updates from JC
Quarterly Report #2
Our 2nd quarterly report outlines how we've progressed with our budget and key metrics from December 2022 to February 2023. Here's a quick summary of the quarterly report or you can view the full report below...
Forecasted: $941,958 USD
Actual: $909,165 USD
Forecasted: $451,198 USD
Actual: $871,108 USD
Operating Income (Loss)
Forecasted: $490,760 USD
Actual: $38,057 USD
Twitter followers: 100,000
Instagram followers: 2,075
Discord members: 43,033
YouTube subscribers: 1,570
Newsletter subscribers: 5,155
Website vistors: 25,600
Number of creators: 67
Twitter reach: 2.4 Million
Engagement rate: 3.90%
Instagram impressions: 220,000
Rewards Program Members: 1,844
Introducing our 2nd Long Range Plan (LRP)
Our Long Range Plan outlines our budget for next 6 months from March to August of 2023. This will be submitted as a DAO proposal for the community to vote on and approve.
Projected Revenue: $1,734,308 USD
Projected Expenses: $2,191,123 USD
Operating Income (Loss): $(456,815)
Additional Details and Notes
Revenue: We already have $385,000 in receivables due in March with $450,000 additional anticipated over the next 90 days.
Team Salaries: Most expensive line item at $660,500 as we believe in fairly compensating team members and intend to grow the team month-over-month in key positions.
Events: We've allocated $147,000 towards events as we believe that being at events and meeting with partners and our community is both beneficial towards direct sales and building connections.
Creator Split: Sponsorship revenues are split between the creators and DAO; Out of the $1.4M in sponsorship revenue, we are projecting $900K will be distributed back to creators.
Web Dev: Allocating $180,000 over 6 months to build out our tech stack with a dedicated tech team to build scalable solutions such as...
Creator database and payment systems
New DAO platform
Learning Management and Learn-2-Earn system
Creators & Rewards Updates
Creating a creator course for Tier 1 creators. Once complete, creators can submit an application to the DAO to who will vote to approve the creators within our ecosystem
Creator KPI and database system is in development
Incorporating AI technology into our content creation tools
Tier 4 creator training where our tier 4 creators will get coaching in how to create high value, monetizable content
Resulted in a 40% increase in reach and engagement
Grown the program to over 1,800 members since launch
Launched it as a service to our sponsors and partners via bounties
Rewards store is coming next week and will include:
PFP, Genesis, and Membership pass NFTs
30 minute consultation with Farokh
Project review by the Rug Radio team
Entry into an IRL Rug Radio event
Shoutout on the GM Web3
Allowlist spot for current raffle
6 months free access to the top tier of Xpand rewards platform ($1,800 value)
Reaching the 100K milestone on Twitter; 43K on Discord
NFT Paris event with Yuga Labs and Improbable
NFT Factory GM Web3 show
Ran 7 giveaways including Real Vision and NFT now
Working with Chana to help learn the Partnerships process
Creating Giphy and Tenor accounts for Rug Radio memes with Linetrash
Implementing Rarity sniper and a bot within Discord that detects remaining $RUG tokens on listed Genesis NFTs
PFP Mint Submissions
Still reviewing the forms, but anyone who lost money due to gas will be fully refunded
Collab.Land token allocation
Rug Radio has an allocation of 2.1 Million tokens
50% of all tokens are being allocated to the community
Retroactively rewarding those who have claimed RDAO and/or voted on proposals
70% of those tokens will be retained to reward people for participating in the DAO over the next 12 months
25% of the tokens are going to the team to participate in the Collab.Land DAO
25% of the tokens will be held by the DAO treasury to vote on what to do with the tokens
March is Women's History Month and we want to celebrate the women within the Rug Radio community who are holders of our NFTs. Fill out the form below for an opportunity to be featured in our blog and on Twitter.
DAO updates from Daito
The Prop House proposal period has ended and voting will open soon
New DAO Council members that will serve the next 3 months will also be going to Snapshot for a vote as well
Working on a partnership with Probably Nothing to help add value to $RUG token
The next Town Hall will be on Friday, March 17 with the time TBA as we might be changing it around a little bit. If you click the button below, you can add a reminder to Google calendar and we'll update it if the time changes!