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    Rug Radio Announces Faces Of Web3: Don’t Miss Out!

    We’ve already talked about the importance of NFT influencers and the power they hold in this space. And, we’ve first-hand witnessed the success of VeeFriends, Gary Vee’s non-fungible collection. So, what’s better than to get in on another influencer’s project? Here’s Rug Radio. Not only is it backed by a well-known NFT collector, but it’s also community-focused with a shit ton of perks. And, it is dropping a new collection. Let’s find out all about it.

    What’s Rug Radio?

    Rug Radio is the first fully decentralized media platform created by NFT collector and web3 builder, Farokh Sarmad. The digitally-native outlet, launched in December 2021, aims to allow people to fully take ownership of the narrative. 

    Being backed by Farokh, Rug Radio has already gathered an impressive following with 1.29K subscribers on Youtube, 88.6K followers on Twitter, and 31.08K Discord members.

    This project is everything you can wish for. It’s a launchpad, incubator, brand builder, accelerator, and creator fund. 

    Rug Radio Ecosystem 

    I know, it’s one too many things. No one can possibly pull this together. Well, Farokh can. Its ecosystem feeds into the decentralized structure from every corner. Let’s explore Rug Radio’s entire ecosystem.

    Rug Radio Diagram

    Membership Passes 

    On the 22nd of December 2021, Rug Radio launched 19K membership passes that were free to mint. Buyers only had to pay gas fees. On January 2022, all membership passes sold out. But why were people quick to grab them?

    Rug Radio Membership Pass

    Well, the membership pass is the key to all the value in the project’s ecosystem. You only have to hold one membership pass to have access to all the benefits.

    The main benefit of this pass is that owners got a mint pass for the Rug Genesis NFT drop. 

    And, the membership passes are dynamic. So, they evolve as the ecosystem continues to expand. Keep this in mind as I’ll come back to it at the end. 

    Rug Radio Genesis NFT Drop

    This gives you what they call a “utility NFT” that represents Twitter headers artwork. Only membership pass holders were able to mint this drop. 20K NFTs launched for 0.111 ETH each, 11 of which were 1 on 1s NFTs. 

    Rug Radio Genesis NFT Drop

    The utility NFT generates $RUG, the currency of exchange in the Rug Radio ecosystem. As a holder of this NFT, you will receive the $RUG token in your wallet through airdrop once a month or you can claim them via the Rug Radio dashboard. 

    Each NFT has a daily rate of $RUG production that differs according to the non-fungible token’s rarity. 

    Rug Radio $RUG Token

    This is a pure utility coin only produced by the utility NFT and the RUGBank. Over the course of 5 years, 255,000,000 $RUG will be produced. Moreover, 1800 $RUG earn you 1 $RDAO. Remember, utility NFTs generate these tokens monthly. They can produce between 1800 and 4500 tokens per month depending on their rarity. 

    $RDAO

    $RDAO

    $RDAO is the heart of Rug Radio’s decentralized structure. It hosts the value created in the network and houses the governance of the entire platform. Here, there’s a governance council that was created through the public election process. 

    This council will represent the community for the first 6 months of the DAO. There will be a total of 170,000 $RDAO tokens over the 5 years. Moreover, in order to support the community, Rig Radio will include 1000 ETH in assets in the RDAO, as well as 70% of the secondary sales proceeds. 

    Why 5 years? The project is moving at such a slow pace to ensure that the community will have enough time to develop, prosper and eventually own the ecosystem. 

    Rug Bank

    Rug Radio’s bank will accumulate a holding of 10% of all daily produced $RUG utility tokens. It will also hold 1000 of the initial NFT collection and their production of tokens. The bank will receive approximately 4.3 million $RUG tokens per year and will be governed by the DAO structure. 

    But, How Is Rug Radio Useful?

    I know what you’re thinking, this seems like a fully built ecosystem with a strong focus on decentralization. But, how is it actually useful? Well, it’s a platform that allows hosts to create while ensuring ownership of their content. 

    Utility

    Remember the Rug Radio passes? There are actually four types: membership pass, host pass (daily, weekly, causal), partner pass, and guest pass. 

    The host pass allows creators to generate rewards from their shown on Rug Radio. 

    It also gives them access to host-only areas and a dashboard. And, hosts get guest passes to giveaway to the audience. 

    Basically, as a host on Rug Radio, you get the tools to build your brand, community, and audience. And, the project does NOT collect your IPs. You own full commercial rights. 

    Rug Radio x Cory Van Lew 

    Insanely amazing, right? There’s more! During the NFTNow Miami Art Basel event, Farokh announced that Rug Radio is collaborating with Cory Van Lew for a PFP NFT collection. The collection will include 20K items of amazing artwork inspired by lew’s famous pieces. 

    They decided to collaborate to “give something to holders to match the Twitter header”. And, because “this is something the community has been asking for”, as Farokh noted during an interview. They’ll be announcing more details soon. 

    Personally, I’m a big fan of the focus, planning, and effort in this project. I can see this excelling in the near future. I love how the NFT space is expanding with more and more projects every day. Don’t worry though if you can’t afford to buy NFTs, you can rent them. Learn about NFT renting here!

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