The point of this document is to outline basic thesis to how Fingerprints intends to generate and capture value.
Part of a good strategy is focusing attention and resources to increase leverage and deliver high performance. An in-depth understanding of the context in which Fingerprints operates is a crucial step in developing an effective strategy.
For the full contextual diagnosis, refer to this document.
The main insights about the diagnosis of Fingerprints’ operating enrivonment are the following:
- technological developments have allowed for the formation of a digital assets market (i.e. the NFT market)
- the creation and commercialization of art is one of the areas in which application of this technology is compelling, along with collectibles
- the wealth generated by the growth of DeFi applications in the Ethereum ecosystem has funded a boom in demand for NFT art and collectibles in the recent years
- this has in turn attracted more attention and demand to the market
- as in traditional art markets, supply of art quickly outpaces demand for art, and there is a large component of subjectivity around the quality of art being made
- this presents a problem for collectors, which struggle to form consensus around which collections are the most valuable
- this formation of consensus becomes driven by authority and branded figures. The formation of such consensus allows a few collections to retain their value regardless of general increases in the production of art
- we’ve seen this happen in the NFT Fine Art segment with ArtBlocks and renowed artists like Larva Labs
- curatorial DAO’s have become great hotspots for consensus-formation, obtaining authority (and other useful network effects such as visibility) from their lively communities
- Fingerprints thus has an opportunity to be the main driver of consensus formation in the Fine Art NFT segment, generating value to collectors and helping to develop the space
The main strategic policies for Fingerprints, as informed by the aforementioned diagnosis, are as follows:
- foster and maintain a substantial and cohesive collection of blockchain art to obtain exposure to the kind of art we believe to be truly valuable. Keep this collection highly curated to increase the quality of our signal and influence.
- involve and grow the Fingerprints community in all our activities to generate positive network effects, authority and engagement
- live up to the expectations of the DAO model, to make Fingerprints an exciting and remarkable institution
- utilize marketing initiatives such as content creation and presence in IRL events to further our brand. Actively foster our relationship to our customers (tokenholders and drop holders) to deliver more value to them
- capture the value generated from our work via $PRINTS and partnering with great artists in projects that generate revenue (“Fingerprints Studio”)
To sum it up: Curation, Community, Marketing and Projects in a DAO.
- maintain a high curatorial bar for blockchain art in acquisitions
- make our curatorial thesis clear to our members and other market participants (e.g. explain it in our website)
- create sustained value to our members at different thresholds and to the Fingerprints Studio drop holders
- design a mechanism to allow valuable members without the means to afford a membership to join, conditional to contributions
- engage the community in a decentralized curatorial system
- map the important marketing considerations in a marketing plan (segmentation, positioning, value propositions…)
- design a custom website which explains all the interesting stuff about Fingerprints and our collection
- continue to make notable appearances in IRL art events
- ramp up content production
- build a CRM system to understand and track our member base and Fingerprints Studio customers
- build a conversion funnel for those seeking to become Fingerprints members
- Fingerprints Studio (Projects)
- use the Fingerprints Studio initiative to expand into other relevant art forms
- draft a more effective project launch process
- creation of Fingerprints Pass
- DAO Model
- formalize the proposal submission and approval process
- eventually build a completely decentralized compensation system which incentivizes long-term contribution and provides opportunity for newcomers and DAO members to join the work