After struggling to capture attention, onchain music label Coop Records is now a top Sound.xyz creator driving over $23k in mint fees. The success was possible because they started boosting their artists’ work.

In this post, we'll explore how Coop Records’ playbook strategy for bootstrapping mint distribution and generating onchain revenue.

Founded in 2022, Coop Records set out with a clear mission to empower artists to earn from their work without giving up ownership. Through Sound.xyz - an onchain music platform - they monetize their catalogue directly through mints, channelling a majority of revenue to their artists and collaborators. But when the initial excitement of NFTs faded, Coop Records knew they needed to find new ways to attract collectors.

Fortunately, their onchain efforts paid off, earning them over 51k OP in grants from the Optimism RetroPGF. This funding provided a fresh marketing budget to reinvest back into growing their artists.

Similar to how brands use Facebook or Instagram ads to promote their work, Coop Records saw the potential of using Boost as a native onchain advertising tool. By incentivizing mints and paying only for results, they saw a low-risk opportunity to drive distribution and conversion actions.

To start, Coop Records ran several small boosts to test different reward amounts. Knowing that the standard cost for a user to collect a “free” edition song on Sound.xyz is 0.000777 ETH, they wanted to experiment to find the optimal amount to reward users. This ranged anywhere from giving a 50-70% fee rebate in OP to cover the user’s cost to collect.

Because of how easy it is to boost a mint, Coop Records was able to deploy multiple boosts at once, gather data, and iterate and optimize very quickly in real-time.

In fact, it was so easy that within a week, the magic moment happened.

On the Sound.xyz viral chart list, 7 of the top 10 songs were under Coop Records’ label. And just like that, they went from struggling to get distribution and mints to dominating the trending charts. But did this virality translate to profit?

"We found Boost to be the most effective and efficient way to drive mints to our catalogue and have been pleasantly surprised by the number of returning collectors that have left meaningful comments and become true fans of the artists on the back of our campaigns.” - Cooper Turley, Founder of Coop Records

Their playbook is simple: use Boost to bootstrap mints, go viral and drive organic mints.

Take a look at ‘Coming Home to You’ by Baker Grace. Released by Coop Records, this song held the #1 spot on the viral chart for weeks and now has over 24k mints. It all started with a single boost that incentivized 300 mints.

Within a few days, the boost claimed out, but the minting didn’t stop. New collectors were discovering the artist through the trending charts and minting it without any incentive, driving a profitable return for the music label.

And Coop Records isn’t the only one finding success with boosting mints. Nearly 80% of Sound.xyz creators on Boost are generating a positive net margin by incentivizing mints. This playbook shows that bootstrapping mints can effectively drive the initial traction necessary for organic growth and distribution to happen.

“[Boost is] a very tangible way to drive attention to your collection, something that all onchain creators should take very seriously.” - Cooper

Reflecting on their journey, Coop Records shares a simple piece of advice for fellow onchain creators: don’t wait to start. Learn the basics and understand what it means to grow onchain.

Just like how traditional advertising has become the standard to scale distribution, Boost can be used as a tool to drive attention and bootstrap growth for any web3 creator or community. Why wouldn’t you want to start boosting?

See the full impact of Boost on Sound.xyz creators in this Dune dashboard. To learn more about how to use Boost, read the Boost Guide for Creators.

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The Guild's primary goal is simple: to grow and govern Boost.

Boost grows as more incentive offers are deployed and completed, which grows the Boost Treasury along with it. For every successful boost transaction, the treasury earns a portion of the distributed rewards through the Boost Protocol Rewards.

The Boost Guild is responsible for creating actions that grow Boost, like funding community initiatives or whitelisting new tokens to be added to the protocol.

Roles in the Boost Guild

There are several roles in the Boost Guild that work together to grow and govern Boost. Each role has a special function and role to play to make Boost success. They are as follows:

Core Team The Core Team are core contributors of Boost that make decisions relating to specific admin actions. They are responsible for maintaining the infrastructure and paying the operating costs for the network.

Moderators Moderators are high-value participants that have proven their loyalty and commitment to the guild mission through their onchain contributions and transaction value. They are granted the ability to make a number of protocol and Guild decisions, including which tokens to whitelist or onchain actions to add to the protocol. They also govern the acceptance of Contributors and can add or remove members.

Contributors Contributors are responsible for providing innovative ideas by initiating proposals on how to spend treasury funds for growth. Proposals are then voted on by the Boost Pass holders. Contributors are currently selected by Moderators.

Community Community members are Boost Pass holders who can vote on proposals made by Contributors. This role allows users to demonstrate the value of their onchain contributions and progressively elevate their role within the Guild.

Boost Guild members are stewards of alignment

For each successful Boost transaction, the Guild receives a 10% share of the distributed token rewards. This reward is a recognition of the Guild's efforts in facilitating and driving the completion of boosts.

In addition to this, a small standard claim fee on every boost transaction is collected and distributed to the Boost Guild. While traditional organizations keep profits closed to themselves, the Boost Guild is responsible for distributing the revenue back to the community. They are stewards of alignment that support the healthy growth of several large crypto protocols and the growth of crypto users.

To learn more about how rewards are distributed among participants, read about Boost Protocol Rewards.

Boost Guild’s Guiding Principles

The Boost Guild operates on these core guiding principles that all members must adhere to:

1. Open source advocates: We believe in open > closed systems. The Boost Protocol and all related tools are open source, enabling anyone to contribute, audit, and improve upon.

2. Onchain devotion: We stand firm on decentralization by conducting all operations and governance onchain, ensuring security, transparency, and alignment.

3. Transparency: Every decision and action is open for scrutiny, reinforcing our commitment to clear and transparent governance.

4. Merit-based rewards: Recognition and rewards are strictly based on contributions and achievements, honoring the value brought by high-value participants.

5. Action-oriented: We focus on initiatives that drive real, measurable onchain activity, ensuring our efforts translate into tangible ecosystem impacts.

These principles are the bedrock of the Boost Guild and serve to guide the actions and decisions that will lead the ecosystem towards a better decentralized future that benefits all.

What’s next?

The Boost Guild is an iterative and evolving governance system. As it grows and expands, it will continue to transform based on the community’s decision on what brings the most alignment to all participants.

In the coming month, we will open up the next wave of applications for Contributor roles. Boost Pass holders will also begin to onboard to the Guild for voting.

To start, you can join as a Community member by minting your Boost Pass now. This will give your voting rights in the Guild, as well as early access to Boost Inbox when it launches.

Let’s boost together!

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• Quest Protocol that powers RabbitHole is becoming Boost.

• Boost Inbox, the successor to RabbitHole, will become the primary earning platform to discover and receive incentive offers called boosts. It is set to go live in February 2024.

• RabbitHole will be migrating to Boost Inbox in early April. All activity on RabbitHole will be ported over to Boost Inbox, where you will continue to receive exclusive earning opportunities.

• Mint your Boost Pass to get early access to Boost Inbox, plus become a member of the Boost Guild, a coalition of community stakeholders that govern Boost Protocol.

Our mission has always been to increase global economic opportunities by making crypto more accessible and meritocratic. To do this, we've focused on empowering users through meaningful onchain activities and education.

But what happens next with all the valuable activity you’ve built up so far? Today, we want to share the exciting next evolution of RabbitHole that will unlock the full value of your onchain transactions. We call this boost, targeted onchain incentive offers that you can discover and receive on Boost Inbox.

Boosts are incentive offers to do things onchain

The most rewarding and engaging incentives are ones that are dynamic, targeted, and relevant to you. The more value you bring onchain, the more valuable incentive offers you should receive. This includes higher token rewards, exclusive offers and even ownership.

Boost is how anyone can target and incentivize you with token rewards based on the value of your onchain activity. To receive your offers, you can find them on Boost Inbox, the main interface to discover and receive public and targeted boosts. Just like how you receive offers in your email inbox to buy things online, Boost Inbox is where you receive incentive offers to do things onchain.

To enhance your earning experience, you can opt to provide more identifying information by minting a Boost Pass. Proving your onchain value and reputation will help projects and individuals identify you as a valuable user so they can offer you higher-quality incentive offers.

Boost Pass is your ticket to higher rewards and ownership

Boost Pass is a Soulbound ERC-721 that gives early access on Inbox, exclusive rewards, and voting rights on the Boost Treasury. It acts as a digital representation of your onchain profile and achievements, specifically tracking your activities across leading Layer 2 networks like Arbitrum, Optimism, and Base.

Minting a Boost Pass unlocks several exclusive advantages:

• Enhanced incentives offers: Depending on your Boost Pass rank, you can become eligible for higher boost rewards.

• Governance rights: Boost Pass holders are granted voting rights in the Boost Guild, a coalition of community stakeholders that govern Boost Protocol's treasury Mint yospending.

• Personalized onchain insight: Get a detailed view of your wallet's onchain history and attributes to track your crypto journey.

• Early access to Inbox: Get early access to the Boost Inbox earning platform when it rolls out February 2024.

Owning a Boost Pass makes it easy for you to track and optimize your onchain reputation. Improve your rank and reputation to get better incentive offers!

What will happen to RabbitHole?

Boost Inbox will be launching soon in February 2024. RabbitHole will gradually transition and fully merge into Boost Inbox by early April.

As for your onchain progress and achievements on RabbitHole, it will seamlessly port to Boost Inbox and contribute to your onchain reputation for exclusive incentive offers. We are excited to bring you a more engaging experience that will unlock the full value of your onchain contributions!

What’s next?

To get early access to Boost Inbox when it launches, you can start by minting your Boost Pass. We will continue to announce more details as Boost Inbox rolls out and how you can start participating in the Boost Guild as a Boost Pass holder.

A new era is upon us - let’s get boosting!

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FAQ

What is Boost Inbox and how does it differ from RabbitHole? 
Boost Inbox is the successor to RabbitHole and will become the primary platform for discovering and receiving boosts. It will offer a more dynamic and personalized experience for earning incentives based on your onchain activities.

When will Boost Inbox go live and what will happen to RabbitHole? 
Boost Inbox is set to go live in February 2024. RabbitHole will fully transition to Boost Inbox by early April, at which point the RabbitHole platform will be redirected to Boost Inbox.

What will happen to all my existing RabbitHole achievements and progress? 
Your achievements and progress on RabbitHole will be transferred to Boost Inbox and will contribute to your Boost reputation to ensure continuity and recognition of your onchain contributions.

What is the Boost Guild and how can I participate? 
The Boost Guild is a coalition of community stakeholders responsible for governing the Boost Protocol and its treasury. By owning a Boost Pass, you are granted voting rights on how the Boost Treasury should be spent. Be sure to follow Boost Inbox on Twitter as we announce more details about the guild in the coming weeks!