Introducing Sushimi: SUSHI's NFT PFP project

Sushi has been a key player in the DeFi space for close to 18 months. And it has proven to be resilient—and relevant—in the face of what seemed like an endless stream of hardships. But Sushi is now on the path to appeasement, with a renewed focus on product and community building. Today, we’d like to introduce what could become a new building block of Sushi’s reputation and a powerful driver of visibility, and fast.

Introducing Sushimi: the 100% Sushi PFP NFT series.

10K Sushi characters

400+ traits*

Mintable on Mainnet

Created by a team of current and former Sushi contributors: Timon, Pedrowww, Lufy

Born from the creative mind of Timon, Sushimi is bringing Sushi’s OG mascot to life. Fully hand-drawn and featuring more than 400 traits, it showcases the powerhouse that is the Sushi ecosystem.

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How?

First things first, we want to make the Sushimi launch a standard for fair, safe, transparent, gas-effective mints. That’s why we are exploring a launch using a Miso auction.

To further promote the capabilities of the Sushi ecosystem, we’d create an incentivized pool for the Sushimi token on Onsen and the Sushimi series could also be featured on Shoyu to become the platform’s first PFP series.

Leveraging Sushi products would be a way to benefit xSushi holders throughout Sushimi NFTs’ lifecycle. On top of that, 50% of sales and 50% of collected royalties would go back to xSushi holders.

In short, Sushimi is a project centered around the Sushi brand, by Sushi contributors, utilizing and promoting Sushi tools, and giving back to xSushi holders—a turnkey, a-to-z activation that promotes Sushi in an authentic, creative way.

Community

The goal behind Sushimi is obviously to promote Sushi’s ecosystem but also to play a role in amplifying the community behind it, all the while benefiting xSushi holders.

By becoming the first protocol-sponsored PFP project, Sushimi is a concrete rallying cry, playing as a way to flaunt support for the project across channels (Discord, Twitter, Telegram, etc…).

Development Stage

We are proud to announce that Sushimi is ready to launch!

The traits are finalized, communications materials are ready to be deployed, the UI is 90% done and the sushimi.org domain has been secured.

All that is left to do is set the rarity (the algo is good to go) and unleash the power of Sushi to get the word out there.

Cost

Hundreds of hours of creative work have gone into creating Sushimi. We’re asking for a $200K fee to give Sushi the full intellectual property of the project, which accounts for 10% of potential primary sales based on average minting price of PFP projects.

Again, to offset that cost, we’d be sharing both primary sales and royalties on a 50/50 basis with xSushi holders, meaning that if everything goes to plan, xSushi holders stand to gain far more than it’ll cost the treasury.

We are super excited for what’s ahead for Sushi and we hope that Sushimi can contribute to further consolidating the protocol’s presence and brand power in the space.

For updates, follow us @Sushimi_nft

https://sushimi.org
Sushimi Digest Deck

  • This is great! Let’s make it happen
  • I can see the potential but the concept should be refined
  • No thank you. Not interested

0 voters

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@LufyCZ super sweet - love seeing ideas pioneered and executed by the team.

I am confident there is strong enough demand by the community to support this project. Furthermore, it directly benefits xSUSHI holders and is synergistic to Shoyu.

It seems fun and friendly - and easy to integrate into platforms such as Discord and Twitter.

A few questions:

  1. Are there plans to support this collection on a secondary market outside of Shoyu?

  2. How else can we offset the cost of “hundreds of hours of creative work”?

Excited about the final development of this project.

.

4 Likes

this is great stuff guys, can’t wait to get one !

May I suggest doing 50/10/40 on the primary sales.
50% for xSushi holders.
10% for the Sushi’s treasury to reimburse the 200k$ fee.
40% for you.

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Before, we had an agreement with core we could’ve actually gone with. That was: no upfront fee, 70% sales us, 30% sushi for primary sales and 50/50 royalties. However, we think that this is a more fair solution.

Maybe we could pull the $200k from the xSushi side and once that’s paid off, give the rest to xSushi?

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For #1, we’re definitely not against it, but we thought that since this is a Sushi-centric project, Shoyu would be the perfect place for it.

Not sure what exactly you mean with #2

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okok thanks for the infos, yea deducting the 200k$ from xSushi side sounds good.

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If you will retain any portion of the sales to compensate for the work.

Sounds like you will which is great!

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Very cool art, love the Sushi theme!

I am working on a proposal with something (not PFP project) along the same lines as this and love the emphasis on the Sushi community, definitely need more community driven projects and innovation to achieve that 2022 Sushi redemption arc.

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Can you explain a bit more about how this will promote Sushi to people who might not know it exists?

I think one of the core problems Sushi is facing is discoverability/brand recognition/usability. An NFT project MIGHT help with that, but I think the potential audience is limited. Can we shift this focus to attracting new people to Sushi first? Expanding our audience and reach beyond the core crypto/NFT space?

I think this is a nice looking project, but I’m not sure of the utility or the timing considering what I feel Sushi needs to be focusing effort and resources on. I’d love to see more marketing and outreach efforts before the millionth NFT project that provides little utility or ability to attract new users to the platform.

I like the idea of this in principle but I’m somewhat confused and could use some clarifications. So this is a Sushi-themed NFT designed by Sushi community/team? The $200,000 goes to the three creators who put in somewhere between 100-1000 hours to account for the creation of 100 hats, toppings, faces, and outfits for a cylinder? So that’s between $200-$2000 per hour to the creators, who will then also take 50% of the revenue from the sales, and 50% of the royalties attached for swapping the NFTs?

I am sure I am missing something here. I like the idea of Sushi paying people for good work that’s done that will benefit the Sushi ecosystem but I am alarmed that this appears to be another Miso auction that will only be aimed at the current community. It will result in us footing the bill for these NFTs from the Treasury as xSushi holders, and also paying the creators for the privilege of then purchasing these NFTs with our external capital.

These look cool and I’d like to have one to show my support for Sushi definitely. And you guys deserve revenue and a portion as creators. But remember you’re also hoping to use the Sushi brand here. You’re effectively wanting to sell this projects rights to Sushi yet still retain a 50% cut of profits for them for yourselves.

Sushi could create such a thing under its own umbrella employing people and paying them a fraction of that 200k and they would not in any way be required to pay out 50% of the sale revenue to individuals, thus allowing Sushi to retain the profits for the actual xSushi bag holders, or for the Treasury. I’m really confused here by the pay structure you’ve put forward. I think it needs to be seriously reconsidered. This is looking worryingly like an attempt to use Miso to yet again exploit the community for the gains of a select few.

I hope I’m wrong with how I’m seeing this. Please clarify anything I may have mistaken. Much love to the hard work you’ve put in. I love that you want to contribute!

The way we see it is that it’s perfect to onboard new users in a very concrete way, using the NFT as an incentive. For instance, what are the chances that a DeFi beginner would end up checking Miso? If you tell them, “Miso is an innovative, safe, gas-efficient way to mint this sweet NFT”, they might want to check it out.

There would be a little bit of education to do, of course, but seeing the lengths some people are ready to go just to have a spot on a shady whitelist, I have good hopes we can catch their attention.

This project also doubles up as a marketing campaign. It’s far-reaching, concrete, highly visual and fun. All that Sushi needs now. Plus, Miso V2 is going out as we speak.

3 Likes

Hey Robot Tauss,

Thank you for taking the time to share your thoughts.
First things first, this initiative is indeed led by current (Lufy) and former (Timon, myself) Sushi contributors. That can tell you about our intentions. The idea is not to milk the protocol in any way.

A lot of work goes into creating those projects. What might look to you as just accessories plastered on a cylinder is actually a ton of effort. We’ve also put together the whole brand, concept, ecosystem, assets on our own. We started working on this in August 2021 and have been in talks with Sushi since September. That’s 6 months of unpaid work, and there’s still a lot of effort to put in before they go live.

Our goal is not just to mint and run. Sushimi is aiming at promoting the Sushi suite as a whole and is intrinsically linked to the protocol’s tools. If the NFTs catch on, it’s a wonderful use case, doubling as a high-impact, slow-burning advertising campaign. We designed it to be a win-win-win: for the protocol, for xSushi holders, and of course for us.

See it that way: Sushi would benefit from a 100% baked initiative, with very little left to do but advertise it (and we’d obviously be involved in that). That’s why we are asking for a grant.

We could have gone at it alone, and simply piggy-back the brand just like some other projects did (Sushiverse namely). But we are going the honest (and maybe bumpier) route of community governance. Because the last thing Sushi needs is another butchered, only self-interested job.

I hope this clears the air a bit. BTW, as suggested by HHK, we are open to lift the initial 200K and pull it from the xSushi part. This way, the cost would be null for the protocol.

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“A lot of work goes into creating those projects. What might look to you as just accessories plastered on a cylinder is actually a ton of effort”

Excellent point. I for one have dabbled with software for the creation of such things and am happy to admit you must have talent and skill to create art. Even cartoon art with clean lines, and simple colours are time consuming. Achieving a quality result is an effort.

“We’ve also put together the whole brand”
Perhaps you could elaborate on what is meant by ‘the whole brand’ is there more behind this than 10,000 NFTs created from combing all of the potential combinations of the 400 graphics with the cylinder?

“Concept”
Again I’m not sure what this means. I’m really not trying to belittle the work involved. Am I right in assuming by concept you mean the notion of anthropomorphized Sushi people? I think this concept is well established so that piece is not highly relevant to state.

“Ecosystem”
Again, please don’t take this the wrong way I do enjoy that we are playing with the idea of adding an NFT to the Sushi Ecosystem. But what is the ecosystem that you’re pertaining to here specifically? I’m imagining perhaps you mean you’re going to create a world where these little anthropomorphic Sushi people dwell? Or is there another meaning I’m not seeing?

“Assets”
This would me the 10,000 NFTs? I think that is self explanatory. You did create them. They look pretty rad.

“We started working on this in August 2021 and have been in talks with Sushi since September.”
That’s awesome. Specifically though, how many hours of work was used to make these? You stated hundreds of hours so I’m curious what the ballpark is because we should be considering fair payment for work done not the time length the process was in the works. Also it is only unpaid if it isn’t accepted by Sushi and the community. So it’s important that we sort out the value of this and if it is something the people want. If it is good for Sushi then it makes sense that you are paid well for your works.

“And there’s still a lot of effort to put in before they go live”
Like what?

“Our goal is not to mint and run”
Of course not and I respect the contributions you’ve made to Sushi in other ways and know you’re here to be part of the community. I just think we need to sort out if this is fair value or if this is being accepted without being considered without proper assessment of how much value it adds to the Sushi ecosystem. $200k after all is a lot of money. And that isn’t all you’re asking for. You are asking for $200k and then 50% of the fees from minting? I don’t know what the set price will be but we can ballpark some numbers and figure you’ll stand to make a pretty penny on top of that 200k. If these turn out to be highly valuable pieces in the Sushi Ecosystem you could take home millions for a 3 person team on a few hundred hours of work when Sushi could have done this through its own channels at a far lower price point.

Keep in mind this revenue you’re earning is revenue that would have potentially belonged to the Sushi brand / coffers / xSushi-stakers. This is important to consider.

Doing the legwork and putting forward a finished product is a good way to avoid healthy competition. It is important that we’re critical of the results of the work you’ve put in and realize that doing so in this way may have prevented us from getting a better product by hiring talent based on merit. We may be paying extraneous amounts for something inferior to what would be gained by having the work contracted through the channels we hope to create going forward with Sushi; by this I mean the team we hope to establish that will make good decisions that best suit the Sushi project as a whole, rather than giving individuals the ability to take extra value because they’re first to the finish line of a competition nobody else was aware of.

“If the NFTs catch on”
If they catch on and I’m understanding this correctly, you stand to receive 50% of royalties yourselves. It is interesting to think 3 individuals will benefit 50/50 from the Sushi brand. I think these numbers need to be seriously scrutinized. I am hoping a Sushi NFT catches on. It would be great for Sushi to have popular NFTs in-house. I think it is important that you’d be well compensated if that is the case. But I think if we give you these kinds of fees with just this initial offering you will no longer be incentivized to continue doing fine work on the path that still lies ahead for us all.

“doubling as a high-impact, slow-burning advertising campaign”
I’m not entirely seeing the way in which this works as an advertising campaign based on my understanding of NFTs. I will admit that I am less savvy in this department however and hope others will chime in on what the specifics are that will make this work as an advertising campaign. From my understanding people will use them possibly as a profile picture on Twitter when they bang out rants in tweet format? Maybe there are other places too? I suppose that does draw some attention, and if the NFTs look good that could be useful. I like this…

“We designed it to be a win-win-win: for the protocol, for xSushi holders, and of course for us.”
I think my concern is that the weightings are unbalanced given the size of the three parties. You are intending to make this wealth off the brand Sushi, and make this wealth from predominantly the current xSushi holders (Community), and the current cost to yourselves is, as you stated, the 100s of hours spent across three individuals. The Sushi brand has high value that would be funneled into this project if the xSushi holders (community) gives its blessing. The art and work is good and deserving of pay but I think it is fair to look at negotiating a more reasonable distribution of value to the three parties.

“See it that way: Sushi would benefit from a 100% baked initiative, with very little left to do but advertise it”
I do not disagree with this. It does benefit you heavily though too to come to a more reasonably negotiated sum since you have already sunk those hours into this project without first getting community blessing to do so. Your time commitment is apparent. These NFTs look interesting. I think it is in all parties interest if we consider the true value of this and work to determine if it has merit as a Miso offering that Sushi should stamp its name onto.

“We could have gone at it alone, and simply piggy-back the brand just like some other projects did”
I feel like this would earn you less, if any interest and so this point doesn’t need stating.

“But we are going the honest (and maybe bumpier) route of community governance”
And the more lucrative route. I think this is commendable either way though.

“BTW, as suggested by HHK, we are open to lift the initial 200k and pull it from the xSushi part. This way, the cost would be null for the protocol.”
This I’m not sure is the correct. $200k is great and you deserve it, if this NFT is a success and there is interest. I think though my bigger concern is that we need to consider how much profit would be made from fees. I’m going to throw out a random number for fun since I have no idea what the planned cost of these will be. And I’m going to be optimistic that we sell all 10k, since otherwise it suggests this project isn’t successful/useful to Sushi. Lets say $100 cost? Does that mean $50 in fees to you? If so that’s $1,000,000 on top of the $200,000. Then lets say they are resold too. I don’t know how high the royalty percentage would be so I can’t ballpark that. But so far we have $1.2 million in profits to you for under 1000 hours of work or 333.3 hrs each? $1200 an hour is a steep rate of pay for anyone to claim.

We need to be realistic here about how much this could generate to Sushi’s coffers as well and how much advertising it will do for us. $1,000,000 in revenue across xSushi holders is a drop in the bucket. So I think we’re more so hoping that there will be a lot of extra swapping (royalties for you) or that the advertising effect draws more people to use Sushi? We don’t even have Shoyu ready for these new people, who might only understand NFTs, to use. I think give this fact it could be implied that we could hire a team to develop something and get them to sink 1000 hours before Shoyu launch and have the two coincide as well… I don’t know if that is the best option but we should consider all avenues. This project is cool but I think you should come down considerably in what you’re asking, and in-so-doing, increase the value to Sushi Ecosystem via the change in weighting.

Much love, this criticism isn’t meant to indicate a dislike for this work. I think it’s great and I love the initiative you’ve put forward. I just want to help highlight some of the rational concerns I see. I suspect they may be shared by others and so it is important that somebody fleshes them out so that we can see if more suitable terms can be put forward so that there is a better chance of a proposal passing a vote.

1 Like

I like it! I’m a big fan of Timone’s work, and the whole crew are Sushi OG’s. I would love to see us put some weight behind a legitimate NFT project with community support.

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While Shoyu has carved off a powerful niche in curated singular creations there is no doubt that PFP projects offer the most opportunity when it comes to community building.

For that reason, I think this is an excellent project and well worth the funding requested. Not only will a PFP project for Sushi build a strong and connected community inside the discord, onboard new users to Sushi, and bring a new artistic expression deeply rooted in the brand, it will also allow members of the core community to show off their pride for Sushi through Twitter (as a PFP).

I believe that makes it a win-win-win and well worth the treasury funding. I also appreciate and support the fair launch initiatives the team has taken around this project. To show that Sushi supports artistic expressions that give back and build up the platform (like Sushimi) is imo a great first step to attracting the right projects, more creators, and innovation in the NFT space, built by Sushi.

Lastly, some have argued that Sushi should be focusing more effort and resources on discoverability/brand recognition and marketing. I’d argue this is marketing and accomplishes all these things in an organic and creative way.

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Haha. I like the idea. Like the images too.

I like that funds go to xSushi holders. Do any of the funds go into the Sushi treasury? Since this is built off of the Sushi brand. Maybe Sushi is a big holder of xSushi, and my question is moot.

But I’d like to get in on these. Would xSushi holders have any presale or whitelist buying options?

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If this were intended to be an unofficial or more community-focused project, I would be more on board. But currently, from what I read, this is aimed at being an official Sushi PFP which gives me a fair bit of worry due to how much weight that will carry.

One of my concerns is that it adds to an already unfocused pile of Sushi nft’s, diluting our brand even further. Would also cannibalize a possible official nft project, that could have a great deal of impact on the Sushi platform in the future.

Along with that, It also does not match up with the current visual brand or the new overhauled visual brand that is in the works right now. This will create a visual divergence in our branding, keeping the brand identity consistent is vital for anything official imo.

That said, I don’t want to come across as a downer, it is easy to see a lot of work has gone into this. Hope you can see what I am getting at though. :sweat_smile:

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These are legitimate concerns. Official sushi projects should definitely be consistent.

I cant wait to get one

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great idea! i love the art - you did a great job with this and the idea and proposal.

I dont know if the art represents what I see is currently what is hot on the NFT zeigiest or art in general though. Just thought i’d shoot that watchout.

I’d also propose looking for some additional utility to the NFT as well within the sushi ecosystem.

3 Likes