$DRPT Whitepaper
0x5519
February 16th, 2022

Beauty School Dropout (BSD) is a Los Angeles-based hair-grunge rock band.

The three-piece outfit began with vocalist Cole Hutzler and Brent Burdett; formerly of alt-rock band Strangefaces. The evolution of BSD began as Hutzler’s solo project, but following the dissolve of Strangefaces, he teamed back up with his former bandmate to collaborate in the creative process. Soon after, Hutzler met producer and guitarist, Bardo - the final missing link to what is now BSD.

BSD before Emo Nite 7th anniversary show
BSD before Emo Nite 7th anniversary show

With executive production help from FEVER 333’s Jason Aalon Butler and Green Day / My Chemical Romance’s longtime producer Rob Cavallo… BSD has developed a seamless mixture of pop, alt-rock, punk, and hip hop for their debut EP ‘BOYS DO CRY’.

With sonics resembling a Nirvana record being produced by Skrillex, BSD tackles live shows with a ferocity, aiming to create an unforgettable and inclusive experience for the community every time.

Beepus diving into crowd at 2nd ever BSD show in Los Angeles, CA
Beepus diving into crowd at 2nd ever BSD show in Los Angeles, CA

In the latter half of 2021, we discovered our passion for the web3 space and set out on a mission to become the archetype for artists merging at the intersection of web3, tech, and music.

Our community is the cornerstone of Beauty School Dropout. Being able to reward the early adopters and recognize those who have been behind something at the beginning is priceless. Web3 allows us to do this at scale.

Our Web3 Journey

Since the inception of Beauty School Dropout, we have always been fascinated with the intersection of tech, crypto, and music. Near the end of last summer we caught wind of NFTs, DAOs (decentralized autonomous organization), and social tokens.

We quickly grew fascinated by the opportunity to redefine the fan to band interaction through community ownership and artist empowerement.

As we dove into web3, we found a variety of art DAOs, play-to-earn games, and brand-oriented projects including Friends With Benefits, Good Karma, Catalina Whales and the Sol Army.

On top of our work in Ethereum, we plan to explore other ecosystems like Solana with the aim of decreasing the fiscal barrier to entry for our fans - especially the younger audiences.

Music NFTs

To date, all of our Music NFTs have been released on Catalog.

As the leading marketplaces for 1/1 Music NFTs, we saw an opportunity to cultivate a new interest around tokenized punk rock and become a leader in our respective genre when it comes to web3.

Each 1/1 NFT offers an array of benefits including:

  • The master .wav and .jpeg of the release
  • The mixed stems for the master project
  • 1 All Access Pass + 1 to any BSD show per year (not including festivals)
  • 1/1 Custom leather jacket with colors and symbols of your choosing
  • 1000 Dropout ($DRPT) tokens
  • Access to a token gated portal of unreleased demos and an Alpha Channel in our Discord.

We are allocating 50% of primary sales and 10% of secondary sales from Music NFTs to our community treasury.

These NFTs are an opportunity to be an early adopter and have a vested interest in the growth of the band.

We believe that our early adopters should see the most value as the brand grows.

Think of our Music NFTs as your way of owning the rarest collectible form of the first Beatle’s demo.

In the future, we plan on tokenizing all of our releases. Collectors may be entitled to $DRPT token rewards - providing deeper access to unreleased music, content, exclusive merch, and shows.

Chart positions of recent NFT sales
Chart positions of recent NFT sales

$DRPT Token

Dropout ($DRPT) is the Beauty School Dropout social token.

$DRPT was minted on Roll - a platform with over 400 social tokens and a user-friendly wallet.

For many Beauty School Dropout fans, web3 will be a completely new frontier. Having the ability to soft-onboard our community members with a web2 friendly wallet was a crucial reason for partnering with Roll.

There are 10,000,000 (10M) $DRPT tokens total.

Of that supply, 2,300,000 tokens (2.3M), or 23% of the total supply, is liquid today. An additional 300k $DRPT unlocks every month and 100k was retained by Roll.

The full $DRPT supply is expected to unlock in roughly 2 years.

Of the 10M $DRPT tokens, we plan to allocate them as follows:

Community Treasury - 5,000,000 $DRPT (50%)

Used as a reserve for the Dropout community. Distributed through governance.

BSD Team - 2,500,000 $DROP (25%)

Owned by core members of the BSD team. Subject to a 1-year cliff and 1-year vesting with monthly unlocks.

Strategic Partners - 1,500,000 $DRPT (15%)

Allocated to strategic partners to bootstrap the Dropout community. Subject to a 1-year cliff and 1-year vesting.

Growth Incentives - 1,000,000 $DRPT (10%)

Earned by the Dropout community for contributions to the project.

Graph of token distribution in first 2 years from launch
Graph of token distribution in first 2 years from launch

Earning $DRPT

Supporters will earn $DRPT by being active members of the community.

This may include participating in Discord, engaging on social media and spreading awareness, including but not limited to:

  • Collecting Music NFTs
  • Participating in street team
  • Attending community calls action

Over time, we will release a program with fixed token allocations and concrete programs for the community to earn $DRPT.

At inception, we expect to allow anyone with an interest in $DRPT to claim a marginal amount of tokens to get started and join the token-gated sections of the Discord.

$DRPT Utility

The role of $DRPT will evolve with time, initially starting with:

  • Token-gated Discord channels
  • Access to unreleased content and music
  • Exclusive merch access
  • IRL events/shows
  • Governance in the DAO

We are constantly monitoring the relationship between NFTs and social tokens, and look forward to presenting new models for the synergy between the two.

Today, you can think of Music NFTs as collectibles, and the $DRPT token as governance in the DAO and it’s holdings.

Examples of what can be redeemed using $DRPT
Examples of what can be redeemed using $DRPT

Community Treasury

50% of all Music NFT sales go to the community treasury found at 0x753bec2D76F22847184F2e1e865FB1790A976b12

These funds will be governed by proposals on Snapshot, and allow token holders to vote on how tokens should be allocated to the wider BSD community including:

  • Funding new content
  • Events, shows, and other IRL happenings
  • Funding of new projects and ventures within the Dropout ecosystem.

We encourage all those with ideas on how to utilize treasury funds to reach out and work with the team on crafting a governance proposal.

New Age Label Deal

This year Beauty School Dropout signed a label deal with the new venture Verswire headed by Sherry Saeedi (founder of Veeps) and creative A&R support from Blink-182’s Mark Hoppus, Verswire is embarking on a new approach to music deals. rather than a typical major label deal that can be not so friendly towards the artist.

When structuring the deal, one of the key factors was allowing the band to have freedom in NFTs and web3.

Adding NFT language into label deals is brand new - where we hope to create a foundation for what deals can look like for generations of artists to come.

We strive to find a world where our label in web2 lives in parallel to operating a DAO in web3 - ultimately find a symbiotic relationship for a best of both worlds approach.

What’s Next

Over the next few weeks, we plan to release more educational material for our community to better understand our web3 ambitions.

While it’s been an amazing journey for us in BSD, we recognize that there are still many barriers to entries for our everyday fans.

To this end, we look forward to offering additional ways for fans to get started with web3 without a monetary investment - namely by being active in the community or by attending shows.

Over time, we look forward to making the BSD DAO the center point of the project.

For now, we’d like to thank those who have taken the time to follow us thus far - and look forward to carving out a new model for artists to come.

With love,

Beauty School Dropout 💔


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