This was originally going to be a bounty, but by the time I researched enough for the bounty, I realized I should just do it.
Name of Grant
Rocket Pool Merchandise Store
What is the work being proposed?
Create a professional quality Rocket Pool merchandise store worthy of a multi-billion dollar protocol.
My research into this is in another forum post (Merchandise Store Research). I looked into several options and in my opinion, the best approach for a high quality, professional, crypto accepting and international merchandise store is module based. Specifically, this means setting up an eCommerce store and website using Wordpress and Woocommerce together with an integrated Print on Demand (POD) and dropshipping service which can take crypto payments as well as traditional payments.
As part of setup, we will need branding for the website (which Dr Doofus, though artistically talented, is not well-suited for) and potentially help with creating the specific articles for sale. The building of the merchandise itself is tedious, but we can enlist help; this includes things like which brands/style/fabrics/colors will be available, as well as, what actual graphic designs to use on items. Note that Dr Doofus is knowledgeable in this process but might need help from people better capable of fashion decisions. In regards to designs on the merch itself, some will be obvious (Rocket Pool logo/name) and others might come from the talented artists in the community, either by request or via a contest.
Store management is the ongoing upkeep of the store (webite will need updates, the POD must be paid, if the store grows large enough, taxes must be collected, etc.). The grant recpient will take on responsibilty of store management (potentially with a co-manager) for the first year. This is included in the cost below. After that, we can determine if it should be a compensated position or not. This would largely depend on how much the store sales are.
Technically, this will involve creation of a business, most sensibly a sole-proprietorship via the store manager, but sales are expected to be low enough to fall outside most complex business rules. This also absolves any liabilities from the DAO (the DAO is not owner of the merch store). This can be altered if desired by the GMC/pDAO so that the DAO is the owner of the store.
Is there any related work this builds off of?
No
Will the results of this project be entirely open source (MIT, GPL, Apache, CC BY license or similar)? If not, which parts will not be, why, and under what license will they be published?
No, in order to maintain customer privacy, the website will not be open source.
Benefit
<please enter N/A where appropriate>
| Group | Benefits |
|---|---|
| Potential rETH holders | Advertising RP awareness with no negatives to potential rETH holders |
| rETH holders | Advertising RP awareness with no negatives to rETH holders |
| Potential NOs | Advertising RP awareness with no negatives to potential NOs |
| NOs | Advertising RP awareness with no negatives to NOs |
| Community | Community wants RP Merch, store generates income making cost possibilities utlimately zero (or net gain) to protocol |
| RPL holders | Advertising RP awareness with no negatives to RPL holders |
Which other non-RPL protocols, DAOs, projects, or individuals, would stand to benefit from this grant?
The advertising and community bonding via swag speaks for itself. There are other benefits that might be obvious, but should still be stated. First, once the store is running, funds to keep it running are self-generated. If the store does a lot of business, it makes the store manager’s job harder, but there is money to compensate (discussed below). If the store does very little business, there is not much work for the manager to do, thus little/no compensation is needed. Second, after initial funding, small fees on the merchandise can pay the GMC back for the initial expenses. Third, there is no reason this store would not also sell non-RP merchandise (for example, Ethereum t-shirts, general crypto branded items, etc), potentially providing an income stream to the pDAO.
Work
Who is doing the work?
Dr Doofus
What is the background of the person(s) doing the work? What experience do they have with such projects in the past?
Dr Doofus has set up several Wordpress based websites and several eCommerce stores.
What is the breakdown of the proposed work, in terms of milestones and/or deadlines?
Milestone 1:
One month from approval to get a basic store up showcasing a sample t-shirt with RP logo.
Milestone 2:
Once that is shown to work, another month to get more artwork and merchandise uploaded/designed.
How is the work being tested? Is testing included in the schedule?
Testing is ongoing as site is built. Once complete, beta orderers will be needed to demonstrate working sales flow.
How will the work be maintained after delivery?
After delivery, there will need to be at least one store manager. The manager is responsible for:
- Website updates
- Adding merchandise
- Paying the POD/dropshipper
- Maintaining bank accounts and any business expenses/taxes that come along with that
The first year of management is included in the cost (as a line item so it can be negotiated seperately if needed). After the first years, it would be recommended to review if any changes to management and/or compensation were warranted.
Costs
What is the acceptance criteria?
Working website with single RP t-shirt for milestone 1. Fully functional store for milestone 2.
What is the proposed payment schedule for the grant? How much USD $ and over what period of time is the applicant requesting?
Payment breakdown as follows:
Milestone 1
$6500 - setup work ($5000) + first year store manager ($1000) + coordination of milestone 2 ($500)
a. Setup bank business account to accept credit card payments
b. Setup crypto commerce account to accept crypto payments
c. Create Wordpress with Woocommerce website including branding and integrating both payment types above
d. Integrate a Print on Demand and dropshipping service with store
e. Create dropshipper payment account (usually via a seperate PayPal account)
Milestone 2 (these would not be Dr Doofus, but I would pay these out unless GMC wants to directly)
$2000 - Art and Swag
a. Create art for Website - $500
b. Create designs for merchandise - $1000 (perhaps a contest, 10 prizes of $100 or something like that)
c. Design/Assemble/Compose items for sale - $500
Total $8500
*Payback to GMC
Although I feel the store should basically be not for profit, we can add some profit margin to merch (10%-30% per item, for example, depending on the item) to pay for ongoing operations (if the store gets big enough to need it) and to pay back the GMC for this grant. I feel that’s something the GMC should decide.
Is the applicant requesting RPL or LUSD?
RPL
How will the GMC verify that the work delivered matches the proposed cadence?
GMC members can buy merch or solicit feedback from store customers.
What alternatives or options have been considered in order to save costs for the proposed project?
Also available in the research report on the forum. A lower cost alternative is possible in the form of using an “All in One” service. This is a service where we can minimally brand an existing t-shirt online reseller but they run the entire store. Cost would be probably 1/3 of this grant. The disadvantages are:
- Cannot take crypto payment
- Merchandise is limited to what that shop sells
- More expensive/limited international shipping (as seen from the U.S.)
- Loss of control of customer addresses/emails in terms of unwanted advertising (the All in Ones consider buyers their customers and use your info as they see fit)
Conflict of Interest
Does the person or persons proposing the grant have any conflicts of interest to disclose? (Please disclose here if you are a member of the GMC or if any member of the GMC would benefit directly financially from the grant).
Dr Doofus is a GMC member and would benefit finacially from this grant.
Will the recipient of the grant, or any protocol or project in which the recipient has a vested interest (other than Rocket Pool), benefit financially if the grant is successful?
No