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

• Special Updates

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...

Budget

• Revenue

  • Forecasted: $941,958 USD

  • Actual: $909,165 USD

• Operating Expenses

  • Forecasted: $451,198 USD

  • Actual: $871,108 USD

• Operating Income (Loss)

  • Forecasted: $490,760 USD

  • Actual: $38,057 USD

Audience Snapshot

• Twitter followers: 100,000

• Instagram followers: 2,075

• Discord members: 43,033

• YouTube subscribers: 1,570

• Newsletter subscribers: 5,155

• Website vistors: 25,600

Growth Metrics

• 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

  • Rewards platform

  • New DAO platform

  • Learning Management and Learn-2-Earn system

Creators & Rewards Updates

Creators

• 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

Rewards

• 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)

Community Updates

• Highlights

  • PFP Reveal

  • Reaching the 100K milestone on Twitter; 43K on Discord

  • NFT Paris event with Yuga Labs and Improbable

  • NFT Factory GM Web3 show

• Worked on

  • 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

• Upcoming

  • 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

Special Updates

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!