Monthly r/HNY NFT Competition
Proposal Information
Proposal description:
Nonfungible tokens (NFTs) are becoming an increasingly popular implementation of smart contracts. Many 1Hive community members have expressed interest in creating 1Hive/HNY/Honeyswap-related NFTs. Each month, the official Honey subreddit (www.reddit.com/r/HNY) will host an NFT competition, with the top 3 most upvoted and/or most voted upon NFTs splitting the prize (50/30/20).
Proposal Rationale
Although Honey (HNY) has use cases beyond Honeyswap, if Honeyswap is to be a success we need to market. Content creators who want to participate can easily do so, as Rarible is as simple as connecting your wallet and uploading/minting your art into an NFT. A competition will bring attention to HNY, and the content being created will increase the amount of circulating Honeyswap/HNY-related content.
Furthermore, Reddit is a phenomenal place for cryptocurrency communities to thrive. Although this forum caters to the core Honey developers and community members, Reddit is a great way for investors to learn about and discuss their favorite ongoing projects without having to leave their preferred Internet forum (Reddit). Subreddits usually bolster a community and I feel that this is a great way to grow our subreddit by incentivizing users to visit our subreddit for information about the competition, information aobut HNY/Honeyswap, and for updates about the competition.
Expected duration or delivery date (if applicable):
Winners will be selected once per month for two months.
Team Information (For Funding Proposals)
solarmkd Noice Detz Pressure
Skills and previous experience in related or similar work:
N/A
Funding Information (For Funding Proposals)
Amount of HNY requested: 1
Ethereum address where funds shall be transferred: 0x435Fb56f9ef9A5b4BE0Ba6FF1f4eFf10c553FfBD
More detailed description of how funds will be handled and used:
The prize per month will be 0.5 HNY. Once per month 3 winners will be announced. The winners will receive 50% (0.25 HNY), 30% (0.15 HNY), and 20% (0.10 HNY) for first, second, and third place, respectively. We would only need 1 HNY (for 2 months) for this because I do not think it would be good for the token distribution to give too much HNY. We can do two competitions (two months) for 1 HNY total and re-evaluate afterwards to see if we should continue hosting such competitions. As long as HNY maintains its value, people will rush to create artwork for 0.25 HNY. Users should only be allowed to submit 1 NFT to the competition per month to limit spam and to give everyone a chance to win.