{"id":605006,"date":"2023-02-05T20:49:21","date_gmt":"2023-02-06T02:49:21","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/05\/what-is-rug-radio-a-guide-to-the-worlds-first-dao-media-ecosystem\/"},"modified":"2023-02-05T20:49:21","modified_gmt":"2023-02-06T02:49:21","slug":"what-is-rug-radio-a-guide-to-the-worlds-first-dao-media-ecosystem","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/05\/what-is-rug-radio-a-guide-to-the-worlds-first-dao-media-ecosystem\/","title":{"rendered":"What is Rug Radio?  A Guide to the World\u2019s First DAO Media Ecosystem"},"content":{"rendered":"<div>\n<ul>\n<li><a href=\"http:\/\/coincentral.com\/#heading-h2-0\">The Creator Economy in Web2 vs. Web3\u00a0 <\/a><\/li>\n<li><a href=\"http:\/\/coincentral.com\/#heading-h2-1\">What is Rug Radio?\u00a0 <\/a><\/li>\n<li><a href=\"http:\/\/coincentral.com\/#heading-h2-2\">How Does Rug Radio Work?\u00a0 <\/a><\/li>\n<li><a href=\"http:\/\/coincentral.com\/#heading-h2-3\">The RugDAO <\/a><\/li>\n<li><a href=\"http:\/\/coincentral.com\/#heading-h2-4\">The Rug Radio Profile Picture: Collaboration with Cory Van Lew <\/a><\/li>\n<li><a href=\"http:\/\/coincentral.com\/#heading-h2-5\">Rug Radio and Creators <\/a><\/li>\n<li><a href=\"http:\/\/coincentral.com\/#heading-h2-6\">Rug Radio Rewards Guide <\/a><\/li>\n<li><a href=\"http:\/\/coincentral.com\/#heading-h2-7\">Final Thoughts: To Rug or Not to Rug <\/a><\/li>\n<\/ul>\n<p><span>Rug Radio is a decentralized project at the forefront of Web3\u2019s integration into Web2 business models\u2013 it\u2019s a complex interconnected array of decentralized technologies; it uses three separate NFTs (ERC-721s), a token-yielding mechanism, two ERC-20s, a DAO, and, recently, a PFP NFT release just for the art.<\/span><\/p>\n<p><span>If you think this last sentence alone could send anyone in the crypto space for a whirl, try explaining it to someone who isn\u2019t immersed in crypto.\u00a0<\/span><\/p>\n<p><span>However, Rug Radio isn\u2019t meant to be understood in a few sentences; it\u2019s meant to work.<\/span><\/p>\n<p><span>Web3 isn\u2019t meant to be a complete Web2 overhaul. Many of Web2\u2019s most popular elements organically emerged following human behavior, and it\u2019s more likely to change the underlying technology and improve the overall experience than to change human behavior at scale.\u00a0<\/span><\/p>\n<p><span>Pulling from Rug Radio\u2019s mission statement on its wiki: \u201c[Rug Radio] is a launchpad, an incubator, a brand builder, an accelerator, a creator fund and will grow to be even more with time. <\/span><b>The media and the narrative should be owned by the people.<\/b><span> If we own the narrative, we have more power to shape the space as a whole, as the community wants to.\u201d<\/span><\/p>\n<p><span>The Rug Radio team has individually built reputable social media brands prior to Rug Radio; born as a centralized extension of the team\u2019s existing social assets, Rug Radio is one of the first, if not the first,\u00a0 fully functioning DAO-based media companies.<\/span><\/p>\n<p><picture decoding=\"async\" loading=\"lazy\"><source type=\"image\/webp\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM.png.webp 1278w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM-300x210.png.webp 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM-1024x718.png.webp 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM-120x84.png.webp 120w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM-768x538.png.webp 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM-600x421.png.webp 600w\"  data-lazy-sizes=\"(max-width: 1278px) 100vw, 1278px\"><img decoding=\"async\" loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201278%20896'%3E%3C\/svg%3E\" alt width=\"1278\" height=\"896\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM.png 1278w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM-300x210.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM-1024x718.png 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM-120x84.png 120w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM-768x538.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM-600x421.png 600w\" data-lazy-sizes=\"(max-width: 1278px) 100vw, 1278px\" data-lazy-src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.35.57-PM.png\">\n<\/picture><\/p>\n<p><span>\u00a0As of November 2022, Rug Radio\u2019s Twitter assets saw nearly 20,000,000 impressions, with Founder <\/span><a href=\"https:\/\/twitter.com\/farokh\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>@Farokh<\/span><\/a><span> generating nearly 65%. <\/span><\/p>\n<p><span>In addition to the Web3 play, Rug excites us for a few reasons:<\/span><\/p>\n<ol>\n<li aria-level=\"1\"><span>It\u2019s a living, working, functional DAO.<\/span><\/li>\n<li aria-level=\"1\"><span>It builds mostly in public, regularly publishing its financial reports and holding itself accountable to its community.<\/span><\/li>\n<li aria-level=\"1\"><span>It has maintained its traction throughout an otherwise brutal NFT bear market.<\/span><\/li>\n<\/ol>\n<p><span>Our Rug Radio guide explores the traditional Web2 challenges faced by all parties, Rug Radio\u2019s experiments to remedy creator economy shortcomings, and how Rug Radio actually works.<\/span><\/p>\n<h2 id=\"heading-h2-0\"><span>The Creator Economy in Web2 vs. Web3\u00a0<\/span><\/h2>\n<p><span>Web2 creators get next to nothing directly from their platforms unless they\u2019re a top performer; they typically must go out of their way to build a second source of income through ads, sponsorships, or affiliate deals.\u00a0<\/span><\/p>\n<p><span>For example, the average annual YouTube \u201csalary\u201d for creators with one million subscribers is <\/span><a href=\"https:\/\/mint.intuit.com\/blog\/relationships\/how-much-do-youtubers-make\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>$60,000<\/span><\/a><span> from Google\u2019s AdSense program\u2013 a single video with a million views typically pays up to $3,000.\u00a0<\/span><\/p>\n<p><span>Rough back-of-the-napkin math incoming\u2013 a Youtuber must produce <\/span><b>about 200 one-million viewer videos to hit that $60,000 <\/b><span>AdSense payout every year, which means countless hours of brand-building, content planning, creation, editing, engaging, and so on.\u00a0<\/span><\/p>\n<p><span>\u201cEven if the platforms do pay creators, they tend to pay them very little unless you\u2019re like The Rock or someone,\u201d says Farokh. \u201cThe platforms get the billion-dollar valuations partially built on the creators\u2019 work. What is a Facebook, Instagram, or Twitter without any creators or people to watch?\u201d<\/span><\/p>\n<p><span>Web3 stands to rewrite the implicit contracts that creators and consumers have with their platforms, democratizing the ownership and revenue of the content they create and consume.\u00a0<\/span><\/p>\n<p><span>Rug Radio isn\u2019t setting out to build another Facebook or Instagram, but rather a decentralized layer that enables Rug Radio creators to hold full ownership of their IP and earn rewards for creating content and engaging with the Rug Radio ecosystem.\u00a0<\/span><\/p>\n<p><span>The ability to earn while interacting also extends to the consumer and platform buckets.\u00a0<\/span><\/p>\n<p><span>\u201cWeb2 isn\u2019t bad; I like web2; it managed to bring billions of people into a network, and there will always be a place for it,\u201d says Farokh. \u201cWeb3 simply just allows participants to be rewarded for being part of a network.\u201d\u00a0<\/span><\/p>\n<p><b>Web2 is dominated by a linear hierarchy that accrues value for the platform first, then creators, and then consumers.\u00a0<\/b><\/p>\n<p><span>Web3 is circular\u2013 the bulk of the value stays within the Web3 environment by design rather than an oligarchy of platforms extracting value from the creator economy supply chain.<\/span><\/p>\n<p><b>The Web3 experiment hypothesis is as follows\u2013 by using the blockchain and programming value into liquid, economically sustainable tokens, one can create monetary and social incentives for creators, consumers, and platforms to collaborate and grow the Web3 ecosystem in perpetuity.\u00a0<\/b><\/p>\n<p><span>For starters, the blockchain enables seamless, trustless, and automatic transfer of value, a role previously only possible by centralized companies and a growing back-office of staff. The \u201cpermissioned\u201d nature of this model makes it exclusionary, where platforms have the final say in who can participate in a network.\u00a0<\/span><\/p>\n<p><span>Per Rug Radio\u2019s Web3 direction, all consumers, creatives, and platforms turn into network participants. Creators are elevated to the most important role. Platforms receive residual value after it has passed through creators and participants.\u00a0<\/span><\/p>\n<p><span>Web3 is presently a mishmash of interconnected web3 applications; <\/span><b>Rug Radio is connecting the dots by building the infrastructure for a provably fair flow of value proportionate to each party\u2019s contribution to the Rug Radio ecosystem.<\/b><\/p>\n<p><span>Rug Radio is a Web3 media brand underpinned by a yield-generating NFT collection of rugs and DAO (the RugDAO) governed by the native token.<\/span><\/p>\n<p><span>It\u2019s designed to support independent creators who create content under the Rug Radio fold. Aesthetically, the model draws comparisons to that of record labels, except for the critical fact that Rug doesn\u2019t own or have a stake in its creators\u2019 IP.\u00a0\u00a0<\/span><\/p>\n<p><span>Rug Radio creators are given a Creator Pass NFT, which grants them access to internal tooling, sponsorships, and an ability to earn rewards in the Rug Radio ecosystem in the form of $RUG token.<\/span><\/p>\n<p><picture decoding=\"async\" loading=\"lazy\"><source type=\"image\/webp\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1.png.webp 1122w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1-300x168.png.webp 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1-1024x573.png.webp 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1-131x73.png.webp 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1-768x430.png.webp 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1-600x336.png.webp 600w\"  data-lazy-sizes=\"(max-width: 1122px) 100vw, 1122px\"><img decoding=\"async\" loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201122%20628'%3E%3C\/svg%3E\" alt width=\"1122\" height=\"628\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1.png 1122w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1-300x168.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1-1024x573.png 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1-131x73.png 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1-768x430.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1-600x336.png 600w\" data-lazy-sizes=\"(max-width: 1122px) 100vw, 1122px\" data-lazy-src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.09-PM-1.png\">\n<\/picture><\/p>\n<p><span>Rug Radio\u2019s community of creators and audience collectively \u201cown\u201d the platform through various incentive mechanisms ultimately tied to the Rug Radio DAO\u2013 DAO participants can also vote on what content is subsidized or wholly funded by Rug, how and where it\u2019s delivered, and how profits are distributed.<\/span><\/p>\n<h2 id=\"heading-h2-2\"><span>How Does Rug Radio Work?\u00a0<\/span><\/h2>\n<p><b>Rug Radio is visually connected to a series of 20,000 Rug Genesis NFT Rugs.<\/b><\/p>\n<p><picture decoding=\"async\" loading=\"lazy\"><source type=\"image\/webp\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM.png.webp 1282w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM-300x166.png.webp 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM-1024x567.png.webp 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM-131x73.png.webp 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM-768x425.png.webp 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM-600x332.png.webp 600w\"  data-lazy-sizes=\"(max-width: 1282px) 100vw, 1282px\"><img decoding=\"async\" loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201282%20710'%3E%3C\/svg%3E\" alt width=\"1282\" height=\"710\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM.png 1282w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM-300x166.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM-1024x567.png 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM-131x73.png 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM-768x425.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM-600x332.png 600w\" data-lazy-sizes=\"(max-width: 1282px) 100vw, 1282px\" data-lazy-src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.08.41-PM.png\">\n<\/picture><\/p>\n<p><b>The Rug Radio Rugs (ERC 721Ms)*<\/b><span> produce a specific amount of $RUG tokens (ERC-20) per day, ranging from 5 per standard to up to 11 for rare, for a period of 5 years.\u00a0<\/span><\/p>\n<figure id=\"attachment_24789\" aria-describedby=\"caption-attachment-24789\"><picture decoding=\"async\" loading=\"lazy\"><source type=\"image\/webp\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM.png.webp 1122w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM-300x99.png.webp 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM-1024x338.png.webp 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM-131x43.png.webp 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM-768x253.png.webp 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM-600x198.png.webp 600w\"  data-lazy-sizes=\"(max-width: 1122px) 100vw, 1122px\"><img decoding=\"async\" loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201122%20370'%3E%3C\/svg%3E\" alt=\"A Rug Radio Genesis Rug\" width=\"1122\" height=\"370\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM.png 1122w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM-300x99.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM-1024x338.png 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM-131x43.png 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM-768x253.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM-600x198.png 600w\" data-lazy-sizes=\"(max-width: 1122px) 100vw, 1122px\" data-lazy-src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.54.12-PM.png\">\n<\/picture><figcaption id=\"caption-attachment-24789\">A Rug Radio Genesis Rug<\/figcaption><\/figure>\n<p><span>The Rug NFTs were available to mint in January 2022 for holders of the<\/span><b> Rug Radio Membership Pass, a separate NFT released a few weeks prior.\u00a0<\/b><\/p>\n<p><picture decoding=\"async\" loading=\"lazy\"><source type=\"image\/webp\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.16-PM.png.webp 590w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.16-PM-300x300.png.webp 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.16-PM-84x84.png.webp 84w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.16-PM-100x100.png.webp 100w\"  data-lazy-sizes=\"(max-width: 485px) 100vw, 485px\"><img decoding=\"async\" loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20485%20483'%3E%3C\/svg%3E\" alt width=\"485\" height=\"483\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.16-PM.png 590w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.16-PM-300x300.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.16-PM-84x84.png 84w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.16-PM-100x100.png 100w\" data-lazy-sizes=\"(max-width: 485px) 100vw, 485px\" data-lazy-src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.50.16-PM.png\">\n<\/picture><\/p>\n<p> <span>The Rug Radio Membership pass (a dynamic ERC 721M NFT) comes with Rug Radio ecosystem perks linked to participation, such as accessing exclusive online content or, one day, free tickets to a live event (similar to VeeCon).<\/span><\/p>\n<p><i><span>**Editor\u2019s note: An ERC721M functions similarly to the standard NFT ERC721 token standard\u2013 it\u2019s a new token standard developed by SyndicateDAO, Rug Radio\u2019s smart contract planner. It enables customizable mint, burn, and transfer plug-ins, and customizable metadata for on-chain identities, roles, reputations, and gas-optimized bulk mints, and distributions. Stepping away from the jargon, ERC721Ms play nicer with social networks.<\/span><\/i><\/p>\n<p><span>The Membership Pass has a market value of around $15 to $50 depending on the market and acts as the ticket to the ecosystem; it\u2019s essentially the \u201cconsumer-oriented\u201d token that allows content consumers to engage with various offerings in the Rug ecosystem.<\/span><\/p>\n<p><span>\u201cAs a dynamic NFT, it can also be used to curate better content for consumers of content,\u201d says Farokh. \u201cCreators can reward you for listening or engaging with their content more. You can do such specific things with the blockchain (tokens, addresses) that were never possible. We\u2019re simply laying the groundwork now so that in five to ten years, we\u2019ll have a<\/span><b> rich, actionable network of the creator and consumer addresses interacting with each other.<\/b><span>\u201d\u00a0\u00a0\u00a0<\/span><\/p>\n<p><span>A total of 20,000 Rug Radio Genesis NFT Rugs are spread around roughly 8,363 owners and a floor price of about .45 ETH.\u00a0<\/span><\/p>\n<p><span>Holding a Rug Radio token, whether that be the Membership Pass or Rug, allows one to verifiably prove and be rewarded for their activity\u2013 for example, a creator could send a fan rewards like an exclusive NFT that grants free access to an upcoming tour.\u00a0<\/span><\/p>\n<figure id=\"attachment_24788\" aria-describedby=\"caption-attachment-24788\"><picture decoding=\"async\" loading=\"lazy\"><source type=\"image\/webp\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM.png.webp 2048w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-300x93.png.webp 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-1024x318.png.webp 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-131x41.png.webp 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-768x238.png.webp 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-1536x477.png.webp 1536w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-600x186.png.webp 600w\"  data-lazy-sizes=\"(max-width: 2048px) 100vw, 2048px\"><img decoding=\"async\" loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%202048%20636'%3E%3C\/svg%3E\" alt=\"The Genesis NFT's owner distribution (as of February 4th, 2023)\" width=\"2048\" height=\"636\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM.png 2048w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-300x93.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-1024x318.png 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-131x41.png 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-768x238.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-1536x477.png 1536w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM-600x186.png 600w\" data-lazy-sizes=\"(max-width: 2048px) 100vw, 2048px\" data-lazy-src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.52.12-PM.png\">\n<\/picture><figcaption id=\"caption-attachment-24788\">The Genesis NFT\u2019s owner distribution (as of February 4th, 2023)<\/figcaption><\/figure>\n<p><span>In addition to providing the same benefits as the Membership Pass, the Rug Radio Rugs give holders a stake in the Rug Radio ecosystem, earning five to eleven $RUG tokens (the ERC-20 token) per day.\u00a0<\/span><\/p>\n<p><span>Then, 1,800 $RUG can be traded for 1 RugDAO (rDAO) token, the governance token of the whole ecosystem.\u00a0<\/span><\/p>\n<p><span>\u201cWe did a dual token system whereas many projects put the role of governance on a single token\u2013 for example, APE, ENS, etc.,\u201d says Farokh. \u201c$RUG token is your utility token, and the rDAO is strictly for governance. If people swap $RUG for rDAO, they\u2019ll have more rDAO and a greater say in voting.\u201d<\/span><\/p>\n<p><span>In other words, the rDAO tokenholders have a say in how the rDAO Treasury, <\/span><a href=\"https:\/\/etherscan.io\/address\/0x28d5351915cf2638e562b19e1ee75f93d5af3adf\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>currently about 1,395 Ether<\/span><\/a><span>, is spent.\u00a0<\/span><\/p>\n<p><picture decoding=\"async\" loading=\"lazy\"><source type=\"image\/webp\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM.png.webp 1528w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM-300x83.png.webp 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM-1024x283.png.webp 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM-131x36.png.webp 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM-768x212.png.webp 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM-600x166.png.webp 600w\"  data-lazy-sizes=\"(max-width: 1528px) 100vw, 1528px\"><img decoding=\"async\" loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201528%20422'%3E%3C\/svg%3E\" alt width=\"1528\" height=\"422\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM.png 1528w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM-300x83.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM-1024x283.png 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM-131x36.png 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM-768x212.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM-600x166.png 600w\" data-lazy-sizes=\"(max-width: 1528px) 100vw, 1528px\" data-lazy-src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-2.55.08-PM.png\">\n<\/picture><\/p>\n<p><span>\u201cOne of the biggest flaws for most DAOs is that they can\u2019t make it work,\u201d comments Farokh. \u201cI believe that voluntarily swapping into a strict DAO token will lead to greater participation, education about Rug Radio, and alignment.\u201d<\/span><\/p>\n<h2 id=\"heading-h2-3\"><span>The RugDAO<\/span><\/h2>\n<p><a href=\"https:\/\/dao.rug.fm\/\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>RugDAO<\/span><\/a><span> is a community DAO operating as an unincorporated not-for-profit organization; the structure is compared to a club.\u00a0<\/span><\/p>\n<p><span>The RugDAO has two components:\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>The broader RugDAO is governed by the RugDAO token.<\/b><\/li>\n<li aria-level=\"1\"><b>A subDAO called the RugBANK,<\/b><span> where the core tokenomics structure of the rug ecosystem sits. This subDAO is a subsidiary of a DAO, allowing for a different governance structure to be used within the RugBANK confines. the RugBANK has a different, tighter governance structure.\u00a0<\/span><\/li>\n<\/ul>\n<p><span>The RugDAO is split in two to enable faster decision-making for the RugBANK subsection and to ensure a higher bar for decision-making among parties capable of voting on tokenomics proposals.<\/span><\/p>\n<p><span>The launch of the DAO was partially overseen by a Governance Council, who was voted in and tasks to create the <\/span><span>formal governance frameworks for the RugDAO\u2013 handling things such as: <\/span><span>the criteria for submitting a proposal to the DAO, the number of signatures needed on the treasury, and so on.<\/span><span>\u00a0<\/span><\/p>\n<h3><span>The RugDAO Governance Council<\/span><\/h3>\n<p><span>An 33-person governance council (including individuals such as Keith Grossman, Mike Kriak, John Legere, Betty from DeadFellaz, and more) was voted on and elected to create, refine, and publish Rug Radio\u2019s<\/span><a href=\"https:\/\/wiki.rug.fm\/rug-radio\/rugdao\/frameworks\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span> seven core governance frameworks<\/span><\/a><span>\u2013 outlining things such as core team operations (how the business of the DAO is conducted), processes to establishing partnerships, and how spending and financial risk is analyzed for the Rug Treasury.\u00a0<\/span><\/p>\n<p><span>Seven members were selected as a subset of the inaugural 330-person governance council to oversee the DAOs administration, adherence to the governance frameworks, and other responsibilities such as:\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span>Ensuring proposals follow community guidelines and governance frameworks<\/span><\/li>\n<li aria-level=\"1\"><span>Reviewing proposal drafts to make sure they are detailed and compliant<\/span><\/li>\n<li aria-level=\"1\"><span>Reviewing DAO expenditures<\/span><\/li>\n<li aria-level=\"1\"><span>Preparing proposal and partnership analysis reports<\/span><\/li>\n<li aria-level=\"1\"><span>Support the drafting and amplification of community ideas<\/span><\/li>\n<\/ul>\n<p><span>The Rug Radio DAO Operational Council can be found <\/span><a href=\"https:\/\/wiki.rug.fm\/rug-radio\/rugdao\/dao-operational-council\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>here<\/span><\/a><span>.\u00a0<\/span><\/p>\n<p><span>Rug proposals can be found <\/span><a href=\"https:\/\/snapshot.org\/#\/rugcommunity.eth\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>here<\/span><\/a><span>.\u00a0<\/span><\/p>\n<p><span>The Rug Radio core team, along with Syndicate, will help and guide the elected DAO council with creating the initial proposals and frameworks of the RugDAO\u2013 but it is explicitly not involved in the Governance Council.\u00a0<\/span><\/p>\n<p><span>Official communication from the Rug Radio team specifies that the DAO Council is more of a \u201cfunnel and a representation of the best interests of the DAO as a whole, not as a silo within the DAO.\u201d<\/span><\/p>\n<p><span>Upon the finalization of the governance framework, the DAO can vote on what happens to the DAO Council: dissolve, reset with a new vote for the next DAO chapter, or leave it as-is.<\/span><\/p>\n<h2 id=\"heading-h2-4\"><span>The Rug Radio Profile Picture: Collaboration with Cory Van Lew<\/span><\/h2>\n<p><span>Rug Radio\u2019s roots are in the frenzy of NFT activity from 2020-2021, where Farokh built a hyper-engaged audience around the NFT conversation on on Clubhouse and Twitter Spaces.<\/span><\/p>\n<p><span>Rug Radio\u2019s flagship show, the<\/span><a href=\"https:\/\/open.spotify.com\/show\/449Do5k9hCmZXrRV8OuZ3T\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span> GM Web3 on Rug Radio<\/span><\/a><span>, is the largest daily discussion on web3, hosting interviews and panels with the likes of\u00a0 <\/span><span>Tim Ferriss, Joseph Lubin, Sean Wotherspoon, Jack Butcher, BAYC Founders, Doodles Founders, Aave\u2019s Stani Kulechov, and more.\u00a0<\/span><\/p>\n<p><picture decoding=\"async\" loading=\"lazy\"><source type=\"image\/webp\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM.png.webp 992w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM-300x300.png.webp 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM-768x768.png.webp 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM-84x84.png.webp 84w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM-600x600.png.webp 600w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM-100x100.png.webp 100w\"  data-lazy-sizes=\"(max-width: 744px) 100vw, 744px\"><img decoding=\"async\" loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20744%20744'%3E%3C\/svg%3E\" alt width=\"744\" height=\"744\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM.png 992w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM-300x300.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM-768x768.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM-84x84.png 84w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM-600x600.png 600w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM-100x100.png 100w\" data-lazy-sizes=\"(max-width: 744px) 100vw, 744px\" data-lazy-src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.21-PM.png\">\n<\/picture><\/p>\n<p><span>When everyone was launching profile pictures, Rug Radio launched its Genesis NFTs\u2013 horizontal rugs intentionally designed to be Twitter banners rather than profile pictures.\u00a0<\/span><\/p>\n<p><span>In November 2022, at <\/span><a href=\"https:\/\/coincentral.com\/miami-art-week-2022-art-basel\/\" data-wpel-link=\"internal\"><span>Art Basel<\/span><\/a><span>, Farokh announced the Rug Radio PFP\u2013 artwork in collaboration with Miami-based artist <\/span><a href=\"https:\/\/twitter.com\/coryvanlew\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>Cory Van Lew<\/span><\/a><span>.\u00a0<\/span><\/p>\n<p><picture decoding=\"async\" loading=\"lazy\"><source type=\"image\/webp\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM.png.webp 984w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-297x300.png.webp 297w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-760x768.png.webp 760w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-83x84.png.webp 83w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-768x776.png.webp 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-600x606.png.webp 600w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-100x100.png.webp 100w\"  data-lazy-sizes=\"(max-width: 256px) 100vw, 256px\"><img decoding=\"async\" loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20256%20259'%3E%3C\/svg%3E\" alt width=\"256\" height=\"259\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM.png 984w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-297x300.png 297w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-760x768.png 760w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-83x84.png 83w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-768x776.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-600x606.png 600w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM-100x100.png 100w\" data-lazy-sizes=\"(max-width: 256px) 100vw, 256px\" data-lazy-src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-04-at-6.58.12-PM.png\">\n<\/picture><\/p>\n<p><span>\u201cWe\u2019re doing a collaboration drop with Cory Van Lew, who is, in my eyes, one of the best artists in the space,\u201d says Farokh. \u201cHe\u2019s incredible and Web3 native\u2013 I really vibe with his art, and we became very close. The PFPs are free for all Genesis Rug holders, it\u2019s a celebration of the space. It\u2019s called <\/span><a href=\"https:\/\/wiki.rug.fm\/rug-radio\/faces-of-web3\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>Faces of Web3<\/span><\/a><span> because I believe that Rug Radio is at least one of the louder voices of Web3.\u00a0<\/span><\/p>\n<h2 id=\"heading-h2-5\"><span>Rug Radio and Creators<\/span><\/h2>\n<p><span>Rug Radio\u2019s relationship with creators is similar to a record label, but Rug doesn\u2019t own or have a stake in creator IP, and it doesn\u2019t plan to mire creators in complex legal entanglements.\u00a0<\/span><\/p>\n<p><span>Rug aims to be a platform-agnostic service that can be tapped into from any platform like Tik Tok, YouTube, Snapchat, Instagram, etc.\u00a0<\/span><\/p>\n<p><span>The first phase of the project seems to be building an early-stage replacement of a layer of creator economy intermediaries\u2013 such as Patreon, Substack, etc.\u2013 that help creators monetize their audiences and take a small(ish) percentage.\u00a0<\/span><\/p>\n<p><span>Creators act like network participants (called <\/span><i><span>nodes<\/span><\/i><span>) by entertaining and engaging the various consumers.\u00a0<\/span><\/p>\n<p><span>\u201cCreators get a host pass and yield more $RUG tokens with a bonus every three months,\u201d says Farokh. \u201cThe participants, for being part of the ecosystem, also get value accrued back to them because they\u2019re yielding tokens every day through their Genesis Rug NFTs. With that, the platform grows as well, which is Rug Radio, which is the RugDAO.\u201d<\/span><\/p>\n<p><span>Currently, Rug Radio seems to be targeting the sponsorship and ad money niche that tends to be coordinated externally to Web2 platforms. Down the line, it may be ad revenue or even outright platform ownership.\u00a0<\/span><\/p>\n<p><span>\u201cLet\u2019s say a creator starts a show on Rug Radio and Rug Radio facilitates sponsors and resources for pre and post-production,\u201d says Farokh. \u201cThe creator would keep the lion\u2019s share of the money, and the remainder goes to the DAO, which is distributed per DAO governance. The creator can use the brand, tooling, reputation, and network Rug Radio is building\u2013 and the Rug Radio participants are organically building that.\u201d\u00a0<\/span><\/p>\n<p><span>Rug Radio\u2019s show schedule is typically posted on <\/span><a href=\"https:\/\/twitter.com\/RugRadio\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>the Rug Radio Twitter\u00a0<\/span><\/a>every day,<\/p>\n<figure id=\"attachment_24783\" aria-describedby=\"caption-attachment-24783\"><picture decoding=\"async\" loading=\"lazy\"><source type=\"image\/webp\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM.png.webp 1566w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-300x185.png.webp 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-1024x632.png.webp 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-131x81.png.webp 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-768x474.png.webp 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-1536x947.png.webp 1536w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-600x370.png.webp 600w\"  data-lazy-sizes=\"(max-width: 1566px) 100vw, 1566px\"><img decoding=\"async\" loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201566%20966'%3E%3C\/svg%3E\" alt=\"(Source Rug Radio wiki)\" width=\"1566\" height=\"966\" data-lazy-srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM.png 1566w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-300x185.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-1024x632.png 1024w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-131x81.png 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-768x474.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-1536x947.png 1536w, https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM-600x370.png 600w\" data-lazy-sizes=\"(max-width: 1566px) 100vw, 1566px\" data-lazy-src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-01-17-at-3.06.32-PM.png\">\n<\/picture><figcaption id=\"caption-attachment-24783\">(Source Rug Radio wiki)<\/figcaption><\/figure>\n<p><span>\u201cThe Morning Show is getting plenty of sponsors and interest, and it\u2019s currently the anchor of the Rug Radio Network,\u201d says Farokh. \u201cI\u2019m creator 001\u2013 we\u2019re hoping to have five, six, ten, two thousand and beyond of these shows with different creators. We\u2019re testing the percentage of revenue to send back to the DAO to support the ecosystem and the best ways to support future creators.\u201d<\/span><\/p>\n<h2 id=\"heading-h2-6\"><span>Rug Radio Rewards Guide<\/span><\/h2>\n<p><span>Rug Radio launched a \u201cParticipate-to-Govern Loyalty Rewards Program\u201d in early 2023 to incentivize member engagement. Members are rewarded with $RUG token for engaging with tweets on Rug Radio\u2019s official Twitter, as well as other Rug Radio creators.\u00a0<\/span><\/p>\n<p><span>Participants can earn up to 210 $RUG per month with the following breakdown:<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Like<\/b><span>: 1 $RUG per like (maximum 2 likes daily)<\/span><\/li>\n<li aria-level=\"1\"><b>Retweet<\/b><span>: 1 $RUG per retweet (maximum 1 retweet daily)<\/span><\/li>\n<li aria-level=\"1\"><b>Comment<\/b><span>: 1 $RUG per comment \u2013 (maximum 1 comment daily)<\/span><\/li>\n<li aria-level=\"1\"><b>Hashtag<\/b><span>: 1 $RUG per use -(maximum 3 uses per day, with a limit one use per hashtag daily)<\/span><\/li>\n<\/ul>\n<p><span>$RUG can be swapped on the on-chain Rewards store.\u00a0<\/span><\/p>\n<p><span>More information about the rewards program can be found on the <\/span><a href=\"https:\/\/www.rug.fm\/rewards\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>official website<\/span><\/a><span>.<\/span><\/p>\n<h2 id=\"heading-h2-7\"><span>Final Thoughts: To Rug or Not to Rug<\/span><\/h2>\n<p><span>Rug Radio was created to be a business and should be viewed as such. The team publishes <\/span><a href=\"https:\/\/drive.google.com\/file\/d\/1rMvANvWUMi_9-KVUkhNXKlj5ek7bXoeL\/view\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>quarterly financial reports<\/span><\/a> <span>that hold the organization accountable to its <\/span><a href=\"https:\/\/wiki.rug.fm\/rug-radio\/rug-radio\/financials\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>projections<\/span><\/a><span>.<\/span><\/p>\n<p><span>Pertinent Rug Radio addresses are public (*chef\u2019s kiss* to the blockchain):<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span>Treasury Wallet:<\/span><a href=\"https:\/\/etherscan.io\/address\/0x28d5351915cf2638e562b19e1ee75f93d5af3adf\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"> <span>0x28d5351915cf2638e562b19e1ee75f93d5af3adf<\/span><\/a><\/li>\n<li aria-level=\"1\"><span>Team Wallet:<\/span><a href=\"https:\/\/etherscan.io\/address\/0x46626758993c9048abf7a1c28585ffb0ab900aba\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"> <span>0x46626758993c9048abf7a1c28585ffb0ab900aba<\/span><\/a><\/li>\n<li aria-level=\"1\"><span>NFT Wallet:<\/span><a href=\"https:\/\/etherscan.io\/address\/0x3E352844f1DC39F215c34F3945fD1d1d8e4C7995\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"> <span>0x3E352844f1DC39F215c34F3945fD1d1d8e4C7995<\/span><\/a><\/li>\n<li aria-level=\"1\"><span>GM WEB3 wallet:<\/span><a href=\"https:\/\/etherscan.io\/address\/0x8d0a25318962bf33f04faaeaedca217a40600067\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"> <span>0x8d0a25318962bf33f04faaeaedca217a40600067<\/span><\/a><\/li>\n<\/ul>\n<p><span>Gone are the days (we hope) when a project can just launch a PFP with no business model, rack up fortunes for founders that don\u2019t build anything, and slowly take the path of least resistance to obscurity to the dismay of its investors and community. Rug Radio is a glimpse into the future\u2013 of how Web3 tooling can actually be applied to solve real-world business problems.\u00a0<\/span><\/p>\n<p><span>Simultaneously, by its design, it\u2019s a running public experiment on how a decentralized autonomous organization can and should run, especially when there are revenue streams coming in and payments outgoing.\u00a0<\/span><\/p>\n<p><span>Through the Rug DAO, Rug Radio\u2019s community can vote on goals, budgeting, and all the pertinent issues that come with running a business.\u00a0<\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/508WqtuFju4\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><span>For further information, we recommend checking out the interview with Rug Radio Founder Farokh and Head of Tokenomics Mel on the Bankless podcast <\/span><i><span>Overpriced JPEGs <\/span><\/i><span>embedded above.\u00a0<\/span><\/p>\n<p><span>\u201cMany projects, businesses, and people will be very successful in Web3, but I think there are very few who manage to create and cultivate within their ecosystems,\u201d says Farokh. \u201cWe want to create an environment where everybody can partake, and it can feel special. I want to create a safe place and inclusive place for people to come in and feel like they can learn and they can meet people while getting rewarded for participating in Web3 as a whole.<\/span><\/p>\n<p><span>To learn more about Rug Radio, we recommend parsing through <\/span><a href=\"https:\/\/wiki.rug.fm\/rug-radio\/\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span>Rug Radio\u2019s wiki<\/span><\/a><span>. <\/span><\/p>\n<\/div>\n<p><strong>Never Miss Another Opportunity!<\/strong> Get hand selected news &#038; info from our Crypto Experts so you can make educated, informed decisions that directly affect your crypto profits. <strong><a href=\"http:\/\/coincentral.com\/#\" data-toggle=\"modal\" data-target=\"#subscribeModal\">Subscribe to CoinCentral free newsletter<\/a><\/strong> now.<\/p>\n<p><a href=\"https:\/\/coincentral.com\/what-is-rug-radio-a-guide-to-the-worlds-first-dao-media-ecosystem\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Alex Moskov<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Creator Economy in Web2 vs. Web3\u00a0 What is Rug Radio?\u00a0 How Does Rug Radio Work?\u00a0 The RugDAO The Rug Radio Profile Picture: Collaboration with Cory Van Lew Rug Radio and Creators Rug Radio Rewards Guide Final Thoughts: To Rug or Not to Rug Rug Radio is a decentralized project at the forefront of Web3\u2019s<\/p>\n","protected":false},"author":1,"featured_media":605007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4219,1460],"tags":[],"class_list":{"0":"post-605006","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-guide","8":"category-radio"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/605006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=605006"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/605006\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/605007"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=605006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=605006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=605006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}