We decided we owed it to our collectors to, at the very least have a go at using the generative PFP tool on NFTHive. Whilst it has been an overwhelming success, some aspects were nothing short of a horror show. It’s time to have a good look at the Epic Fails we made during our first PFP drop, understand the lessons learned and let you all know what action we are taking to make #KarenBSK bigger and better.
New to Kar-en Action Figure PFPs?
Kar-en: Warrior Princess was the first in a series of Drawn Company Action Figure PFP WAXNFTs and launched on 28/08/2023. The drop sold out extremely quickly and the 969 PFPs were instantly traded on secondary. We currently have 159 holders (avg. 6 PFPs each) and 29% of the population has been traded; lowest sale 20 - highest sale 400 WAXP. Whilst we have not seen any truly unrealistic sales, the floor has flirted between 45/55 WAXP comfortably. To date, those with the Warrior Princess OG role in Discord (57 Collectors) have been rewarded with two free sticker drops. We have also distributed 12.9k WAXP through staking.
Presenting - Kar-en: Mayoress of Ruggington. That’s right people, Kar-en rugged hard due to an experimentation with WAXDAO v2 Farms. However, we made a joke of the whole farm mix up and tackled any potential negative impact and addressed the issue head on by announcing a Rug Pull*. This is what we do - we are disruptive (in every sense of the word), have a dark sense of humour and know how to manage situations.
What Will We Do Differently: Not experiment with new technology to implement a crucial aspect of the rewards delivery system for our holders - simples. We now have a v1 Farm which is set up and fit to continue to reward our holders moving forward. This issue has also delayed the creation of our DAO, which we will be implementing soon.
Side Note: We would like to point out that the guys (sorry guy) at WAXDAO work extremely hard to enable us to implement staking in our projects with little financial gain and a huge amount of effort. On reflection, we think using our brand of humour around the volatile issue of staking and in particular a new concept (v2 farms) was not the best idea. Associating a "Rug Pull'’ with a new system was a tad insensitive. As we have stated previously, The new v2 Farms are great. They provide extra protection to collectors but don't suit our need of getting a vast amount of WAX out of the door quickly. Mike if you are in here - you are a legend and we ❤️ WAXDAO.
*Beware - Declaring a Rug Pull: We would warn any creators who wish to do the same to tread very carefully - we got away with it because we are Drawn Company. That’s not big headed - it's a fact.
We set the drop to have a limit of 5 claims with a timer reset of 120 seconds. This was our second Epic Fail. It enabled one account to claim the drop over and over again (approx. 100 times) - we have no real issue with that but it meant a lot of collectors who wanted to claim missed out. Some would also be forgiven for thinking it was inside job - it was not, just an innocent mistake.
What Will We Do Differently: We have set the limit higher at 10 and increased the timer to 30 minutes to make it more difficult for one account to claim the drop multiple times. We will also be slimming down the number of giveaways for #KarenBSK to assist the stability of the secondary market. We will also ensure we have more than enough RAM this time - what a school boy error!
Part of our marketing strategy was to pick one of the most fun aspects of the PFP and run with it, in this case it was the Double Rainbow background - who doesn’t love a double rainbow? We found on reflection that actually this trait was minted higher than expected and such not as rare as we initially thought.
What Will We Do Differently: See double again, but this time make it bollock squeezingly difficult at 1.15%. We have also created increased rarity with the inclusion of two card stickers, one will have a 50% chance and the other (sale stickers) at around 14% with eight variants. We have also reviewed the balance of traits across the board to ensure we continue to deliver a diverse population of WAXNFTs as well as those 🌈🌈's!
We have already discussed above how we plan to mitigate all the Epic Fails we had during Warrior Princess. If you think we have made other mistakes, please let us know, it’s the only way we can grow. If we understand the issues we can put stuff right.
The Best PFP Rewards and Perks...
It’s now time to take a deeper dive into some of the ‘above and beyond’ promises we are confident to make regarding the sub-project moving forward. You can find all our base commitments regarding staking and royalties here. Most importantly, the experience of Warrior Princess has given us the confidence to commit to a more comprehensive suite of Perks and Rewards to our holders (and this is just the start).
We will be teaming up with Karen Burger to revive our 3D 消し Keshi brand (all fast food outlets need cool kids meal toys) to bring Kar-en OG’s, KarenBSK, KB Influence'd and Memo’d Restaurant owners a joint reward of free packs and blends in the name of of good ole’ DC fun. Who's up for the chaos of a #Blendstival?
消し Keshi Kar-ens will consist of super cute SD Kar-ens with different colour bases made from shiny, matte and translucent materials and include blendable chainsaws - Kar-en OG’s will have exclusive access to unique sword and shield WAXNFTs. Find out how to become an OG here (New OG sign ups ends 25/08/2023). Expect 消し Keshi Kar-ens to arrive soon!
Karen has also decided to reward all KarenBSK holders with a free generative PFP sticker (first of its kind?) two weeks after launch (15/09/2023). This will be done on a one per account basis and will use the PFP tool, whitelist, a new schema and of course rainbow and purple items.
That's not all folks, we are looking to add further value to our holders if our collection of PFP Action Figures continues to grow!