NFT infrastructure, embedded royalties and Rari's L3

Transcript

what's going on with nfts I mean we're in a bull run right BTC is dominating meme coins are going parabolic everything is up only except nfts weekly nft volume remains super low around 150 200 million and nowhere near previous highs of over a billion does this mean nfts are dead I mean there's still tremendous potential for the future of nfts across multiple Industries and use cases but if we're going to get there we need nft infrastructure to support that not talking about pfps well trading nfts may be a total loss cause at this point and let's be honest your bags may never come back the

future of nfts remains strong as ever so today we're joined by Jana burtman head of strategy and team lead at RAR Foundation to talk about the future of nft infrastructure and innovation in this compelling interview we discuss the fascinating story of how rable created RAR Dao and decentralized the governance of rable protocol the mission of Rilo foundation and how they are fulfilling their purpose to enable the future of nft infrastructure and the recent launch of Ry chain an L3 built on top of Arbitron orbit with embedded royalties gmgm welcome to milk Road radio the easiest path to get smarter

about crypto I'm jird and I believe that nft infrastructure is going to change the world now before we jump into today's episode I want to let you know that today and tomorrow are your last chance to get in on the discount for milk Road Pro this is a lifetime discount being offered only right now so don't miss out on this milk Road Pro is your crypto analysis in your inbox every week that you need to be smart in your investments in crypto so click the link of the show notes and grab that discount now before it's too late you don't want to miss out without further Ado let's meet Jana and hear about RAR Foundation

GM Jana welcome to milroad radio gmj thanks for having me very very excited to have you on the show today to talk all about nft infrastructure and the future of nfts maybe not getting the narrative right now nft Market is down and I think we've all learned that pfps are not the only use case for nfts and nft Innovation is happening in the background and I think we're going to hear a lot more about that coming out throughout this bull cycle but before we get into all that let's start out by just talking about RAR Foundation RAR foundation's mission is to enable the future of nft

infrastructure can you help our listeners understand maybe the key players here we have RAR bable we have RAR Foundation what's the story take us back to sort of the creation or the origin story of RAR Foundation why it was started and what the mission is yeah I think that's a really good question so essentially it all started with rable not the RAR Foundation the Rari Foundation came after Ral opened Marketplace and they were really there at the beginning of that first nft bull run right and they saw the mass success of NFD Market that NFD summer and they from the very beginning believed in the power of community it was one of the few marketplaces that were not gated where

you didn't have to get approved as a Creator it was very open very inclusive like you can almost call It Uncensored right and with that like the Creator and the community was always at Heart of what they were doing and very early on they had an idea of launching a governance token called RAR and with that giving power to the community to make key decisions around the riable ecosystem it was a bit of a question mark of what that exactly will end up looking like and I think that was a little bit of process of getting to what that decentralization will look like so it wasn't necessarily the whole Marketplace will get decentralized and the community will vote on who gets the drop on varable and so on that necessarily wasn't the path the path was

there is a tech layer that started emerging as the marketplace was becoming more and more mature almost you can call it the back end of the marketplace was becoming more and more more robust and it became its own Standalone thing at the end and that's the rable protocol that's essentially the order book The SDK and the indexer that it's used to power the marketplace that sits on top of it and then with that it became a standalone product as well because now yes the varable nft marketplace sits on top of this protocol utilizes the protocol in it's built but so can other so it can be other apps it can be clients of varable that are asking varable to build custom

Marketplace we've seen that happen with like Anoka Barbie MF line toys like there's multiple quite prominent Web Two marketplaces that have been built with a variable protocol but it can also power different use cases like wallet Integrations data analytics tools fun things like project called B friends that was awarded the grand early on from the foundation or from the RAR Dow was essentially it alerts you around the nft movements for your community so it can be like you know budget Penguins for example sale was made and you get notification so multiple apps can be built with that and really the vision there was yes you can be buil in marketplaces but what else can you build out there with the protocol that was why

the Dow was formed to reap the benefits from the protocol adoption but also to help drive that ecosystem growth and drive that Innovation and power those Innovative use cases so the foundation is the legal entity that works on behalf of the Dow right not every Dow has necessarily Foundation but most of them actually started to adopt this kind of structure because you need somebody with assigning power somebody that can like enter in agreements and that will be paying vendors and it just like makes the whole operation a little bit more executable in a way so we often are in a position that we are given the mandate the Dow to run certain projects to execute certain projects so think about

us as like the administrators SL executors and facilitators essentially of the Dow but the Dow is like what gives us the Mandate and what gives us the permission to do certain type of things and that also finances these things right so when the rabi token was created a significant portion of that token was essentially given to the treasury of the Dow so if you hold RAR token and you lock it so we actually have a model called b r so you lock your token that lock token can be used for governance that means that you can vote either yourself directly or you can delegate your voting power to a delegate that represents your interest in voting for with the Dow you can vote on proposals around governance around treasury allocation so that's

usually anything to do with Finance right it's like giving out grants financing projects financing the foundation re numerating delegates right like you can become creative with the way you spend the treasury in the community reward supping creators and stuff like that and creating different kind of incentive structures but you can also have proposals that are a little bit more technical so you can you know help build out the capabilities of the protocol and so on so that was how the Dow was created the mission was to power these Innovative nft use cases and do that through providing this decentralized nft infrastructure right and why decentralized is important in this case is because then you don't have a single actor that change es the game

on you that flips the card right that decides from one day to another that the business case no longer applies or they get Acquired and there's new management and you know everything is different now so if we want projects to have confidence and faith in the TCH that they've built with to be stable decentralization and this like credible neutrality that idea actually gives you a much better guarantee that what you have been building with is your to so that's essentially why decentralization matters for the protocol and why it matters for you know others as well yeah and it it makes me think of sorry I's going to jump in here because you're speaking around it but I'm going to say it directly this

happened all when openc was making just like corporate decisions to change their Marketplace and the way that they handled royalties and we all remember we've talked about this on the podcast at l we actually had Alex one of the co-founders from rable on our podcast probably a year ago when this was all going down to talk about this problem of should roties be enforced should they not blur came out I mean I don't need to explain that again I think we've talked about it enough but yeah you rarel didn't want to be in the position of holding the power to make those types of decisions they believed the community should be empowered to make those

decisions and they believed in the stability of a protocol that was not in their hands where they could overnight say yeah we're going to put royalties fees on we're going to turn them off and we're just going to make these decisions without considering our community and so I don't think enough is actually talked about in this story of how rable approached this in and how they've gotten to this point where they have decentralized decentralizing isn't easy right there's a lot of steps that need to happen here and a lot of big decisions and a lot of BET that are made and so by launching RAR Foundation well launching RAR da by decentralizing with the token launching RAR DA they enabled the community to really take ownership

of a protocol that is vital to not just creators but to businesses that are building on top of that protocol they need to understand how that's going to be governed and used moving forward yeah and also decentralization can be costly especially in the beginning and there's significant legal fees that go into setting up all the structures around foundation right you have technical costs for setting up your governance structures making sure that you have all the proper contracts and using the right kind of platforms right you give up a significant portion of your token for the treasury there is a lot of investment so you have to believe that the the case where decentralizing your project actually is a strong one right and with that you go down this path it's

not always the most straightforward or the most easy path to choose but it does have this benefit of providing stable or more stable platform for the ecosystem that you are hoping to grow with your product right and the example that you are mentioning with opy was one of the key catalysts for us as the foundation and the Dow to start discussing internally with the community that we should be launching our own chain essentially the reasoning was if we are here to drive Innovation and if we are here to be powering that Innovation through decentralized nftd tool link part of the NFD tool link apart from the varable protocol can be also its own platform an a proprietary chain right

the chain is not exclusive just to the protocol right but it is something that can provide a base where nfts can flourish and that particular use case of the the creative nfds right and the nfts that actually rely on roties for their longevity and for their sustainability that that piece is not negotiable and it's not optional and it's not revocable by a single player and that's why we decided to launch the rary chain with royalties embedded on the Node level in very simple terms that means that the sequencer only lets transactions pass if they respect Roes and if you are trying to not respect

roties the sequencer will not let that transaction pass it will not validate so that is essentially like the gist of it so if you are building on top of chain is an app if you one day decide that you will no longer enforce royalties that doesn't matter because the chain itself the design of the chain itself enforces royalties you can talk about like why all these marketplaces started slashing right I think like business-wise we can all understand that them as private businesses found themselves in the nft crypto winter with low trading volumes they tried to incentivize trading activity getting rid of roties was a move the they decided to adopt and it

make business sense for them right but that's where it's actually this alternative model of having something that is Dow governed is a good addition to what is available to builders and what is what is available to collectors and creators in the market to have that as an option for if they want something that is not necessarily just profit driven right everybody of course need profits it's it's sustainable like you can't just be investing in your product all the time time but I think it's a very different pressure to be making continuous profit for a single company versus for a down Okay so let's just explain and make sure everybody understands all these different entities

we're talking about here or products we're talking about because uh there's quite a few so we've got rable which is a private company that manages their Marketplace rable created rable protocol that's a decentralized protocol that is governed by sorry RAR da then decided hey it's very difficult to make decisions as a dow when you're fully decentralized we need a organization that can make decisions for us and also can pay vendors and do more financial and legal transactions so they start a RAR Foundation you're sort of feel free to jump in if you want to correct me on that the decision part is the difference right so that the Dow still makes the key decisions but that they give us the mandate to execute so

like we have our operational autonomy to a degree but it's still under the Mandate of the Dow so the the decisions are still made in a decentralized fashion right but think about us as somebody that then enables those decisions to actually take form in the real world right right makes total sense and then RAR Foundation SL Ry da created RAR chain and launched RAR chain which is what You' just mentioned here is this launched this chain in January so it's only only a few months old only what three months old now and that chain has a focus on embedded royalties and it's also an L3 and we'll talk in a minute

about what an L3 is I just want to talk a little bit more about this embedded royalties because as far as I know you're the only chain that has embedded royalties as far as I know that's the case at least embedded royalties on the Node level I think you know there are experiments with smart contracts layer and protocol layers but like the the actual like node level which is the deepest level of integration to my knowledge we are the first and possibly the only ones today and I think that was like the novel aspect of the chain and that's you know what was really important for us we wanted to make it in a way that there's as little negotiation around this as possible the only way to change that mechanism is if the Dow actually votes on that and you know they

just decide to change the overall like design of the chain which is quite unlikely so yeah it's pretty awesome and I think you know also like launching something that just gets handed over to the Dow to make decisions it's amazing as well with that said I think like the first step is more you know handing over the revenue and then over time you like trans transfer the ownership of all the contracts but you don't necessarily like start with hey here's the whole package there you go right like every decentralization is kind of happening in stages and it's own like progress path it's pretty amazing because then it also is a wonderful experience for the community and for the delegates it doesn't happen often that you are part of a dow that is just taken on your

responsibilities like that that is you know launching something new that is making true innovation in the space it's also very exciting for our delegates and for our community to be part of this journey for sure for sure let's talk a little bit about nft Innovation and how embedded royalties fit into that and let me just sort of give you my perspective I I'll be honest I struggle with royalties I'll tell you why I haven't made up my mind I think royalties make a lot of sense in certain use cases I think they make a lot of sense in the use case of a independent artist an independent artist certainly deserves to get royalties on any future transaction related to their art whether that be a

musician or whether that be a visual artist any sort of artist that is Crea any you know I'll actually extend that Beyond artists any Creator right the entire internet relies upon all of our social media relies upon all of these creators and right now all those creators make you know they make video content on Tik Tok image content all this content we're making and those creators they don't get much inform form of monetary recognition for their creation right who gets that Facebook gets that or meta gets that the large web 2 organizations that actually own all these creations that we're making they own that and then they monetize it through ads and so I can get behind all

those creators deserving all of the royalties where I struggle with NT world and maybe this is more of a conversation about the future of nfts and how broad nfts are and how they have so many use cases is in the case of a brand launching at nft I struggle more to understand about why royalties matter so much if Nike is doing some sort of onchain program do they deserve to have royalties on secondary sales like I don't know like I don't necessarily get behind that as much so anyways needless to say I'm curious to get your take on

both royalties but also maybe more so the where you see nft Innovation right now and in the future yeah awesome I think I think you spot on right like Roes might be a applicable to one project but not to another one Creator not necessarily to another right like it depends what is the intended use of that NFD right and who is by I don't think you need roll these or coin or like means right like these pfb collections not necessarily but you do need roties on like pieces made by legit web free artists right that actually turn their work over to the community and that's how they make a living right because

then changing rules on those after you know they've put a lot of work into launching a collection and suddenly they don't reap the royalties on that collection you know a year down the line actually changes the math with which they approach their livelihood in general quite significantly right so like for them it's really important taking the example of the Nike I could see a use case for royalties if the nft is some sort of like donation type of nft right and you can trade it and then the royalty piece is something that will go into some sort of F right it's a proceed with some sort of use for it right rather than just like a corporate Revenue right however right if you're a company and you're selling your IP if you're doing Disney Cinderella nfds

Disney probably still wants to continue having royalties on the secondary sales right because it is still their IP they get so I think like the IP use case is also really important there right same thing in the music industry like with every resell you should still be able to reap that benefit but we're still like talking hear about more of that like creative and Creator side of nfds and that's really just like one piece of the story right and there are so many more applications for nfts that already start to emerge or that will emerge in the future right like NFS are being gaming nfds are becoming important in Social F nfds uh you know and real world assets is something that people are trying to crack everywhere right of course like regulations and all of these things are

a little bit more applicable in that area that's a more of a slower moving Target but it is a big one and once that gets cracked it will be a really important one as well the example of Nike right that's like the brand loyalty program so that has been going for some time not all of them have continued by Starbucks have just shut down Starbucks just shut down that's fine right like I think it's the appetites for Learning and seeing what works what doesn't work right and that's kind of where we are in web free in general and that's where we'll be with nfts for some time as well like we need to see does the application of the technology on solving this kind of problem actually make it better or did it actually become not such a strong

value prop right is it or is it not strong enough of the solution so I think like we need to be like going through this but then nfts are also interesting from the financial perspective right like you had that ERC 404 making headlines few weeks or maybe a couple months ago there's just a lot that can be done right like I'm a homeowner I'm a president of our mini Condo Association right I'm like just turn that into a dow and like make everything NFD powered you know yeah like you can also think about nfts in the the sphere of governance right it doesn't have to be just tokens and how many of those tokens you own it can be tiered thing based on your nft ownership right based on like your

accomplishments or contributions so there are different ways that you can just utilize nfts either as the engine that fuels some sort of you know web free operation or as its own like product as well or it can be just like a backbone for your real world or web to interactions and you don't even have to not there's an nft on the back handle it so there's a lot that can be done and a lot can that you know can be utilized so I think you know maybe when people are talking about when nft is back it's going to look very different right it's not going to be this like we run with those like nft collections soaring to high rises for me nfcs will be be will be back when we see more of that widespread adoption of the technology

across many different use cases that certainly is when NF are truly back yeah yeah you bring up a great point and I think what we're seeing right what we saw in the last Bull Run was a hype cycle around opportunities for a lot of people to make a lot of money in a quite frankly an easy way not to judge pfp collection but it's not hard to create a pfp collection using AI or some tool you can create look there's lots of great pfp collections out there but those aren't businesses and what we're seeing is the same thing happening right now with mem coins right very easy to launch a memec coin we're seeing a lot of different projects come out of nowhere launch a mem coin and try to get a whole

bunch of people around a hype cycle to get in on that and I think as you said what's going to happen next with nfts is more innovative use cases that really you don't necessarily know it's an nft whether you're you know purchasing a piece of real estate and in the back end it's an nft but you don't know that you're just purchasing a piece of real estate that's just your typical process that you go through so what we're going to see is is different than what we saw before and that's that's exciting what I want to know is I don't know if this is more from a rary chain perspective or from a rary dow perspective what what are the projects that you're supporting

now or that are building on rary chain that you're excited about that you can tell us about very early days so as you mentioned the rary chain launched only two months ago so we are now actually deploying a grants program and as part of that gr grants program we have received some applications but we haven't necessarily allocated to the selected projects their GRS portion just yet I haven't seen in the ation is like a true like break breakthrough like Innovation I think it's still tipping around what we know already but it's trying to do like a different angle I think there's nf5 SL loans kind of you know applications I think the intersection of defi nfcs is maybe what

is now getting most of the Mind share but yeah I would love to see more of those like truly pioneering I think you know on chain storage is something that can really like benefit from a little bit more Innovation as well and I think that platforms by the RAR chain are places to do it right because you are trying to look for very cost effective environment right and the L3 is like more cost effective than L2 which is more cost effective than L1 right so like you get the benefit of scale and that was already the case before the ethereum upgrade right and blobs now with blobs like once St deploys on arbit room we will get benefit of that as well

as an l3e on top of arbitro so we will get even that much more cheap right like you can argue that like now already the L L2 are so cheap that it doesn't really matter but like when you're thinking about true scale every scent matters right or every fraction of the scent like piles up so you can also think about in Innovation like I know I started talking about this from like a storage perspective right but you can also think about it from a perspective of more complex apps right because before apps were really limited by oh this is like you know a very complicated series of commands too many transactions it will make it prohibitively costly but that's no longer the case if gas is really cheap right then you can start building different kind of apps with different kind of logic to them where

the gas doesn't become uh a hindrance anymore right so I think it will still take a little bit of time for like projects to really jump on that wagon but would really love to see more of that because like there's so much potential in building web free experiences that are akin to web to experiences that we are used to but we're just like not there yet but like once we get there it's going to be really like a no-brainer for people to be using and adopting web Fe on math right I love it I believe it I I hope the rest of the world uh believes that as well let's talk about you bring up L3 so rare chain is an L3 chain I'm sure lots of people have heard the term L3 but it's not really I I don't even think

it's mainstream within like crypto yet that term and most of us aren't even using l3s yet let's talk a little bit about why you launched rare chain as an L3 why you picked to build on top of an arbitrum orbit which is an L2 let's walk us through that decision and what are the benefits of it being an L3 why did we decide to launch as an L3 is because first of all it became freshly available to projects so when we started talking about L3 orbit just went into production so orbit being like the lree solution for arbitro ecosystem and arbitro was like just one of very few ecosystems that even offering lree right so most

other ecosystems would just offer you to like use their stack to be building another L2 like optimism uses their offer their stack to build like base chain or Zoro were built on op stack for example and you're like in the pre- blop era so L2 gas is not expensive but it's also not super duper cheap but everything that you're doing on the L2 settles directly on L1 so your costs for running the chain are actually quite significant it can be easily tens of thousands of dollars per month and then depending on the stack that you are building with some of them are depositing empty blocks as well so you can be just having an empty chain that nobody's using and you're still paying

all these L1 fees because you just you know depositing empty blocks arbitrum doesn't do that right arbitrum doesn't deposit empty blocks so that's already like one saving then you go into the L3 world and suddenly your l3e get settled on L2 and then it get settled on L1 so your L1 settlement costs already get cut by that mechanism and then on top of that there's also an option to launch in any trust mode so there's like an alternative data availability committee not going to go get too specific here but like the the headline there is that's even more more cheap or it's even like more cost effective to be using

that so once you combine all these different things and your ambition isn't to build a chain that you will then spin up additional lrees on top off right if that's not your ambition lree is a very adequate solution that is actually highly cost- effective for you to run it and you know as a reminder we launched this as a dow right so not be funded bootstrapped so you definitely want to be cautious with the finances that you're deploying but then it's also very cost effective for your users because the lree gas fees are so much cheaper now there's a hurdle of like bringing your finances over you have to bridge them and bridging dust Inc fees but there is an investment to be entering in that ecosystem but once you're there it

is so much significantly cheaper right and then bridging it's not 100% there yet but it will get there fairly fairly soon so like bridging takes time right and it takes gas and I think you know there's if you're working with the Nathan Bridges you need to bridge from L1 to arbit room from arbit room to Bar chain and the same thing on the way out that's a native Bridge experience arbitro is working on a bridge where you just Bridge directly from L1 to L3 or L3 to L1 I'm not sure what's the timing on that right now but like that will simplify the bridging natively very much so but then you have a lot of third party Bridge providers that a made the bridg in much quicker but B you probably need to pay some sort

of fee right so the native brid is probably the most cost effective option but you need to wait a little bit longer especially on the way out but what is really interesting as well is ethereum might not be the number one ecosystem that people are bridging from in the future right they might be bridging there might be enough of user base bridging just from arbitrum and then that like L1 to L3 problem doesn't exist anymore right true or they're just bridging from other l2s out there yeah I think like this whole like interoperability between different chains becomes more and more relevant because just like we launched RAR chain you will talk to projects out there so many of them are launching their own chains right yeah and so that possibility for users to be seamlessly

moving in this multi- chain environment will be more and more important so I think you will see Bridges and embrace that and be like much better than they are now check out Solutions Payment Solutions but also apps like even if you think about something like rabo the marketplace right like I think you just need to start embracing this future where you will use funds from any chain to be paying for NFS from any chain yeah right yeah it's so true we actually we had one of the founders of Wormhole foundation on the show last week and we talked all about interoperability and how they are building protocols to solve this bridging problem we've talked to chain link in the past and had them on

the show and talked about their interoperability Solutions so there is a lot of different people working on solving the bridging solution I think the thing that you said that is so true we are going to live in a multi-chain world for sure multi-chain in terms of multi- l1s I don't think we're going to have you know thousands of l1s I think there will be a few core l1s but we will have multi l1s and then we're obviously going to have a lot of l2s and l3s we're probably going to get to the point where we have millions of those because there's a lot of benefit to owning your own chain if you're a large Enterprise or if you're a dow and so we're going to

see that a lot and I think the bridging problem is not your problem basically it's it's unfortunate right now for you it must it certainly would make it difficult to attract people to Rarity chain either as Builders or as users now you face that challenge of yeah okay come over but yeah you're going to have to go through all these hurdles that's tough but I think you're probably betting on the future when that is not as much of a hurdle and that'll be solved and I think like the early adopters like experience those growing pains with us to a degree right so I think like you know they need to brace themselves for it but it you mentioned like even people in web free often have not necessarily heard so much about lree right so I think there's an educational

component of this is how you on ramp and off ramp from an L free right and this is how it relates to all like I think once that is kind of clarified then it becomes very much the same logic as oh it's the same as like an additional L2 right and and this is also why you know it's so funny because we all talk about the next billion users on chain everybody in web 3 loves to talk about you know what's going to be you know when are we going to hit a billion users when's the big game going to come out we're all waiting for gaming to like have its moment still hasn't happened yet obviously relies heavily on nft infrastructure sure who knows where that's going to come from but what we do

know is are we really ready for that skill yet yeah we're getting there we have incredible Innovation happening at the tech level but let's be real coming into our space right now is a ux nightmare it's very difficult if you're not a technical person good luck like yeah there's embedded wallets and those are improving and that that is making a big difference we still have the ways to go before we're ready for that the next billion 100% I'm somebody who comes from like a world where ux is important so I was in the creative Industries but I was also in marketing and honestly sometimes I'm just like why like I'm using those web pre application why what were you

thinking right so just like having great us designers Priceless you know I hope every project takes us us very seriously it's so important right it's one thing that everything works on the smart contract level but then how do you translate it into UI it's a very different story and just like helping users do as few clicks as possible it's just like such a simple thing but it's actually like kind of hard to execute on well so yeah you exist super important let's talk a little bit about some exciting programs that are happening over RAR Foundation you've got RAR rewards for Ry chain and then you also you've mentioned a few times your grants

program tell us about those and how people can get involved awesome so I can start from the rants program right so that's essentially a big part of what we do at the foundation we are here to work with the Dow and use the funds of the Dow to drive that ecosystem growth and there are two key pro products it's the rible protocol which is that Autobook index for SDK and it's rary chain that we've just been talking about so just kind of like combining the two as our first wave of Grants program we are offering projects that built with the call a grant allocation and then if you decide to deploy that on RAR chain you unlock a grant matching right so it's essentially like matching ecosystem fund

where we just happen to be part of both ends of the equation but what we have also cooked up is join CR programs with other ecosystems down the line for the protocol right so those are to be announced later in the year but roughly on a quarterly Cadence you will be able to apply for RS building on top of the rable protocol in certain ecosystem and chapter number one is R chain obviously there will be a separate grants program for rary chain specifically um but it just hasn't been formalized yet so for now it's just this protocols plus rary chain one the RAR rewards on the other hand is not NE necessarily something for Builders it's for the collectors there

was a version of RAR rewards deployed in the past it it is an initiative that was proposed by by the Dow and voted in by the Dow that allocated a certain portion of the treasury funds to users to collect as rewards based on their bidding and listing activities and that was to promote marketplaces built with the protocol so that was the original idea now that the RAR chain is here there's a portion of this budget used for rable the marketplace so not necessarily Community Marketplace but the mother Marketplace and using those rar rewards to incentivize trading on rary nfds and with that on particular

collections that we have worked on with notable creators to come and drop on RAR chain so you can go and like study the program and specific parameters but essentially the lower the floor for your listing and the higher the floor for your bid the more points you accumulate in a day and then at the end of the day those points get converted to RAR tokens and every day have its own budget so depending on the activity on that day one day you can get like X percentage of that pool the other day different percentage so every day is a little bit different you will have your leader board so so you kind of like see

everything that is happening in real time so that's like pretty fun way right of collecting your Larry and the creators I think you know we are looking at four different creators to be dropping collection some of them are already confirmed like one of the notable ones is like gab wise so he will be the first leader which we're really excited about and so for amount of time starting April 10th I'm not sure if his drop is exactly on April 10th but that's when we are rolling out the rewards people will be able to not only like purchase the NFD from collection of these notable artists but also you know get benefits as they're trading collections in upcoming 90 days that's

how long the campaign is so that's a really like nice way to get into the rarry chain nfds if you haven't done that in the launch phase because in the launch phase we had this really fun campaign called 10 by RAR where each day for 10 days different artists would drop an open Edition that created a lot of you know excitement the first creator that dropped her open Edition on rary chain and all these were 24hour drops by the way and I think she price hers at 0.0088 e something like really nominal like 20 bucks eventually but almost 14,000 people showed up to men so she she actually walked away with 177 e of

bir wow 24 hours so that was like the best launch we could have imagined right so we're like really excited to see like what will happen now with these Collections and the more notable artists actually like dropping on the Chain so very excited to see you know that that generating some new excitement yeah and at points programs are one of the big narratives and metas in the space right now you know and we went from everybody was focused on you know getting farming air drops to everybody was focused on trying to get as many points as possible and it makes sense look it's you come from the web two marketing world right it's marketing one1 right you have to give incentives and give rewards to your

users and give them a reason to come to your store or your product and to engage and points programs are very effective at that and so it's great that you guys are um launching this new program we'll put a link in our show notes as you said that starts April 10th so everybody watch out for that get involved get your Ry points so you can earn your RAR token and RAR token on that note I'll say it you don't have to say it but Ry token's been doing very well a lot of tokens have been doing well over the past three months but I know RAR token has gone up I believe three or something like that I was watching it I'm not I don't personally own any of it but I was watching it closely I thought about buying some of it back maybe three

months ago now I wish I did but anyways things are going well on that front too so great to see the grants program and to see RAR rewards as well before we wrap up I want to give you a chance to tell people where they can follow you or where they can follow R RAR Foundation or RAR chain there's been so many different entities that we've talked about here today there's a lot of Twitter accounts to add to your follow list if you don't follow us already so the foundation is at RAR Foundation our website is R.F Foundation the chain is at rary chain so we try to keep things simple and the website is RAR chain. org my personal Twitter handle is at Yana which is I need to spell it for people y

a n n a yeah I think these are like some of the key accounts you can also follow the variable protocol at variable protocol or check out their website on ral.org so I think like these are the key places to look at we have also launched our forecaster as Rari foundation so fun content is coming from our faster account as well and we have recently started doing in wallet messaging with coinbase as well so you can subscribe to our Channel income base wallet amazing oh I love seeing wallet to wallet messaging starting and happening I think that's I mean there's another use case that will be huge in

the future but we're not we're just scratching the surface of that one okay awesome we'll put all those links in the show notes as well if uh you weren't sure how Jana spelled her Twitter or anything like that we'll make sure we put in the show notes so you can get that before we wrap we love to ask a couple of uh just fun questions these do not have to be crypto answers but they could be if you'd like first up what is a mustre book that you find yourself recommending crypto or in general could be either crypto usually in general is usually the way most people go so there was a book that I read at this point maybe like seven years ago it was called imagine forward by Beth what's her surname she was like one of like big

Executives but it's like imagine forward Beth something she was one of big Executives women and then she like abund her corporate career she like became a professional author but what the book essentially is about is how you drive Innovation and big unlock in that book was like at the very beginning which was about like giving yourself permission to do things differently giving yourself permission to fail giving your permission yourself permission to be like you know ambitious and do something new and that really like struck a cord with me and it's so interesting because when I talk to people and you know since then I've like managed bigger and bigger teams like run

bigger and bigger projects with my previous career I usually did have like big clients important budgets and so on so with that comes a lot of like working with different people and coaching and every time I use that give yourself permission to do something every single time it actually like struck a CT with that person as well and it always unlocked like a new face for them professionally personally and so on so I think like that's a book that I would probably recommend to people like especially if they're around like design thinking Innovation and stuff like that imagine forward I'll need to look up her surname after about that that's okay that's okay sounds like a great book okay next question one thing you've bought recently for under $100 that

brings you Joy I'm terrible at online shopping I like see an Instagram ad and if it's under under $100 I'm like let's just buy that so I have like two small kids now so like buying them outfits is like the cutest thing ever so I do that all the time but yeah one of them is growling because they're seeing on my lap right now like doing like outfits for toddlers is just like it's almost like an addiction I can relate yeah really like Instagram friendly like you know Instagram ads they like get me every time um totally so yeah so that that brings me a lot of Joy that's good I feel the same way okay last question if you had a billboard that one billion

people were going to see what would you write on it I love that I love that question I'm a little bit professionally warped so I'm like my mind immediately goes into like something around the rabi chain but totally I think I think I should probably if it's one billion people I think I should probably write something like with a Humanity message maybe something like eat less meat or really please really do recycle you know or trash in the oceans like we really need it something like that please recycle that's hilarious nobody's ever said that it's not often that people say new things I will say we've done

hundreds of podcasts and often you get a lot of repeat answers to that question but nobody has ever said please recycle and I well it's it's just like I'm we talked about it in the prep right like I'm not from the US but I live in the US yeah and even like after so many years of living here I just still can't get over the amount of trash people producing in this country so yeah recycling is it's important so true y it's been an absolute pleasure thank you to you thank you to the whole team over at RAR foundation and all the various entities that we discussed today excited to continue to watch and see you enable the future of nfts and nft

infrastructure awesome well thank you so much for having me with being pleasure having this conversation um looking forwards to seeing more of your episodes coming out awesome thanks so much for listening in everybody have a great day thank you for listening to milk Road radio the easiest path to get smarter about crypto if you like this episode share it and hit subscribe or follow so you don't miss out on the next one there's also a link in the description to our free 5minute daily newsletter where we simplify crypto for you while making you laugh and if you're willing to step up your crypto investing game then we'll leave a link to milk Road Pro as well your number one resource to to help you invest successfully in crypto one final note this podcast is for educational

purposes only and nothing we say is financial advice crypto is risky so you should never invest more than you're willing to lose thank you friends and we'll see you in the next one