# 22nd March, 2021, NFT-DAO Business Planning Meeting Here is a list of timestamps for this meeting (the links are external). Please amend if I have misheard or misinterpreted some content. {% embed url="" %} Note : Timestamps are external links. ## Minutes The minutes for this meeting ... {% embed url="" %} Discord context {% embed url="" %} ## Introductions - [0.44](https://youtu.be/wnaXlv9onAo?t=44) ## Agenda - [2:31](https://youtu.be/wnaXlv9onAo?t=151) - Troy Egan > **Reference** {% embed url="" %} Discord context (Business Planning Channel): {% embed url="" %} > **Summary** ## Governance HOLON update - [4.17](https://youtu.be/wnaXlv9onAo?t=257) - Troy Egan ### Community Feedback - [5.03](https://youtu.be/wnaXlv9onAo?t=303) - Troy Egan ### Analysis - [5.18](https://youtu.be/wnaXlv9onAo?t=318) - Troy Egan > Reference Governance Holon –Update(17-3-21) > > **Common Themes** {% embed url="" %} Discord context (Business Planning Channel): {% embed url="" %} ### Recommendations - [8.21](https://youtu.be/wnaXlv9onAo?t=501) - Troy Egan ### Discussion Points - [12.34](https://youtu.be/wnaXlv9onAo?t=754) - Troy Egan ## Constitution Discussion ### Overview - [12.41](https://youtu.be/wnaXlv9onAo?t=761) - Troy Egan ### Viewpoint - [13.00](https://youtu.be/wnaXlv9onAo?t=780) - Rich Kopcho > June/July before full constitution ready ### Viewpoint - [13.55](https://youtu.be/wnaXlv9onAo?t=835) - Tyler Wales > **Interim solution** - Bill of Rights - General Principles of the DAO > > Like a manifesto ? - Hud ### Action - [14.48](https://youtu.be/wnaXlv9onAo?t=888) - Troy Egan > Agree short-term one-page manifesto ? ### Viewpoint - [15.06](https://youtu.be/wnaXlv9onAo?t=906) - Rich Kopcho > Discord Channel - Genesis Block Start Here - is a manifesto > > **Reference** : {% embed url="" %} ### Viewpoint - [15.31](https://youtu.be/wnaXlv9onAo?t=931) - Tyler Wales > Some acknowledgement of reading founding document/principles ### Recommendation / Action - [15.59](https://youtu.be/wnaXlv9onAo?t=959) - Rich Kopcho > Recommend reformation and redesign of NFT-DAO Discord Server and hiring experienced Admin ## Business Plan Draft - Presentation - [18.09](https://youtu.be/wnaXlv9onAo?t=1089) > NFT-DAO - A collaborative NFT Economy > > Version 3 Business Plan/Canon ### Update - scope of funding - [29.54](https://youtu.be/wnaXlv9onAo?t=1794) - Rich Kopcho > Insufficient funds at present to build what we need to build (Fund 3) ### Budget Discussion - [31.59](https://youtu.be/wnaXlv9onAo?t=1919) - Troy Egan > unfunded costs rolled forward to subsequent Catalyst Fund stages > > ### Roadmap overview - [32.52](https://youtu.be/wnaXlv9onAo?t=1971) - Troy Egan > > ### Our Story - [34.16](https://youtu.be/wnaXlv9onAo?t=2056) - Troy Egan > > Background on how DAO formed out of Catalyst Fund application ### Community make-up - [35.45](https://youtu.be/wnaXlv9onAo?t=2145) - Troy Egan ### Market Analysis- [37.34](https://youtu.be/wnaXlv9onAo?t=2254) - Troy Egan ### Our Structure- [37.59](https://youtu.be/wnaXlv9onAo?t=2279) - Troy Egan ### The DAO Business Model \> > Distinction between Business Model (revenue etc.) and Organisational Model (how DAO works) > > DAO theory - Vitalik Buterin - [38.53](https://youtu.be/wnaXlv9onAo?t=2333) - Troy Egan > > **Reference** : {% embed url="" %} > Compromise between automated trustless systems and heterogenous trust based systems ### Holonic Models - [39.52](https://youtu.be/wnaXlv9onAo?t=2392) - Troy Egan > **References** > > The Holonic Enterprise as a Collaborative Information Ecosystem - 2001 {% embed url="" %} > The Ghost in the Machine - Arthur Koestler {% embed url="" %} > HOLONs as an organisational structure > > Standard HOLON induction process required to avoid silo effect > > **Note** : Mihaela Ulieru / Explanation of HOLONs - [43.04](https://youtu.be/wnaXlv9onAo?t=2584) - Rich Kopcho > > Mihaela Ulieru one of the authors of 'The Holonic Enterprise as a Collaborative Information Ecosystem - 2001' currently works for IOHK > > **Reference** {% embed url="" %} > **Discussion** - [45.54](https://youtu.be/wnaXlv9onAo?t=2754) - Sev > > Is the Holonic structure part of the DAO ? > > The DAO is the HOLON - Rich Kopcho > > Individuals may contribute and comment across all HOLONs within the DAO ### Incentive discussions in Discord community - [50.56](https://youtu.be/wnaXlv9onAo?t=3056) - Troy Egan > Tiered Engagement Program - contribution incentives > > Equity weightings > > **Nurture phase of Cataylist** - [52.58](https://youtu.be/wnaXlv9onAo?t=3178) - Rich Kopcho > > Order to Chaos - Chaordic organization > > Reference : {% embed url="" %} ## Sales and Revenue - [57.36](https://youtu.be/wnaXlv9onAo?t=3456) - Troy Egan > Minimum Viable Product (MVP) - Revenue share > > Auction and Pre-Sale Revenue targets > > Consensus that more artists needed > > Fees and Royalties ### Market Research - [1.01.58](https://youtu.be/wnaXlv9onAo?t=3718) - Tyler Wales > How many artists want to particpate ? > > How many investors want to particpate ? > > Market Research update - [1.03.02](https://youtu.be/wnaXlv9onAo?t=3782) - Sev > > What would be minimum market research required to start MVP ? - [1.04.15](https://youtu.be/wnaXlv9onAo?t=3855) - Troy Egan > > ### Main NFT market painpoints - [1.05.16](https://youtu.be/wnaXlv9onAo?t=3916) - Dan Verowski * Poor distributed content integration. IPFS (Interplantery File System) * Poor curation of NFT assets - lack of standards * Content stored on-chain or off-chain ? ### How to transact NFTs - [1.06.58](https://youtu.be/wnaXlv9onAo?t=4018) - Wilhelm Horrix * Legally enforceable contracts * Start with very simple contract * Purchase orders > **Action** - NFT transaction experiment - [1.11.04](https://youtu.be/wnaXlv9onAo?t=4264) - Rich Kopcho > > Liability concerns - [1.11.42](https://youtu.be/wnaXlv9onAo?t=4302) - Wilhelm Horrix > > Discussion - [1.12.07](https://youtu.be/wnaXlv9onAo?t=4327) > > Request for flow diagram - [1.14.34](https://youtu.be/wnaXlv9onAo?t=4474) - Troy Egan > > Discussion - [1.15.01](https://youtu.be/wnaXlv9onAo?t=4501) * Transaction flow diagrams ### Revenue Targets- [1.15.45](https://youtu.be/wnaXlv9onAo?t=4545) - Troy Egan > Revenue Targets- [1.16.19](https://youtu.be/wnaXlv9onAo?t=4579) - Dan Verowski > > Revenue Targets- [1.16.42](https://youtu.be/wnaXlv9onAo?t=4602) - Rich Kopcho $150,000 Development costs as Revenue Target > > Discussion - [1.17.26](https://youtu.be/wnaXlv9onAo?t=4646) > > Call for Artists [1.18.43](https://youtu.be/wnaXlv9onAo?t=4723) - Dan Verowski > > Discord channel: Name the Artplace Market [1.19.37](https://youtu.be/wnaXlv9onAo?t=4777) - Tyler Wales ### Define presales ? - [1.20.23](https://youtu.be/wnaXlv9onAo?t=4823) - Wilhelm Horrix * Answer - We are selling NFTs before we can mint them - Troy Egan > Discussion on NFT Pre-Sales - [1.21.14](https://youtu.be/wnaXlv9onAo?t=4874) - Troy Egan, Dan Verowski * Pre-Sales risky - Dan Verowski > Artist view on pre-sales - [1.22.26](https://youtu.be/wnaXlv9onAo?t=4946) - Troy Egan, Andy * If you build story around funds being use to fund the DAO - people would be willing to engage > Update on Mary Artwork - [1.22.54](https://youtu.be/wnaXlv9onAo?t=4974) - Andy * Broken into three tier offerings * Success of Cardano Kidz presales > Pre-Sales risks - [1.25.21](https://youtu.be/wnaXlv9onAo?t=5121) - Tyler Wales * Risk Mitigation, set-up a Stakepool for sustainable revenue ### Achieving Revenue Targets - [1.26.47](https://youtu.be/wnaXlv9onAo?t=5207) - Troy Egan * Experiment with pre-sale, Creating demand with time-limited auctions > Discussion - [1.28.29](https://youtu.be/wnaXlv9onAo?t=5309) - Troy Egan, Dan Verowski, Tyler Wales > > Window - 5 minute sale - [1.29.18](https://youtu.be/wnaXlv9onAo?t=5358) - Troy Egan > > Discussion - amount of artwork in initial sale. > > Update - [1.31.44](https://youtu.be/wnaXlv9onAo?t=5504) - @newmindflow ### Auction in a month ? - [1.34.15](https://youtu.be/wnaXlv9onAo?t=5655) - Troy Egan, Tyler Wales, @newmindflow, Dan Verowski, Wilhelm Horrix > Discussion - Preparation of landing page. Need for smart contracts to automate royality percentage distribution. Possible alternative being a 'physical' auction of tokens. > > Presale option - [1.36.59](https://youtu.be/wnaXlv9onAo?t=5819) - Rich Kopcho > > Auction buyer redeems NFT when Plutus contract functionality live. > > Importance of a transparent process that inspires trust - [1.37.59](https://youtu.be/wnaXlv9onAo?t=5859) - Wilhelm Horrix > > **Timeframe of 1 Month** - [1.38.58](https://youtu.be/wnaXlv9onAo?t=5938) - Troy Egan, Rich Kopcho, Tyler Wales > > Technical impossibility of automated auction for minimum viable product (MVP) - [1.40.18](https://youtu.be/wnaXlv9onAo?t=6018) - Dan Verowski, Tyler Wales > > Blockchain based, automated, trustless auction currently not possible - but a shopify-like trust-based presentation of an auction posssible. > > Benefits / Risks of doing an auction > > Pre-sale strategy makes more sense ? - [1.41.44](https://youtu.be/wnaXlv9onAo?t=6104) - Dan Verowski > > Discussion - [1.41.59](https://youtu.be/wnaXlv9onAo?t=6119) - Troy Egan, Rich Kopcho > > **We need to scope options to 1 month deadline** > > ### Importance of a deadline - [1.42.08](https://youtu.be/wnaXlv9onAo?t=6128) - Rich Kopcho > > We need someone to own the auction process - [1.44.05](https://youtu.be/wnaXlv9onAo?t=6245) > > Discussion - [1.44.21](https://youtu.be/wnaXlv9onAo?t=6261) - Wilhelm Horrix / Tyler Wales > > Landing page - Tyler Wales > > NFT-DAO Token - Wilhelm Horrix > > Discussion - [1.49.52](https://youtu.be/wnaXlv9onAo?t=6582) - Tyler Wales, @newmindflow, Andy > > Artist percentages in smart contracts, number of artworks > > ### Plutus Development - [1.51.16](https://youtu.be/wnaXlv9onAo?t=6676) - Rich Kopcho / Hud ### Need for a co-ordinator - [1.52.00](https://youtu.be/wnaXlv9onAo?t=6720) - Troy Egan > To keep track of timeframes > > Set-up samepage infrastructure - [1.52.25](https://youtu.be/wnaXlv9onAo?t=6742) - Tyler Wales > > Funding / Timeframe goals - [1.53.51](https://youtu.be/wnaXlv9onAo?t=6831) - Dan Verowski > > Summary - [1.54.59](https://youtu.be/wnaXlv9onAo?t=6869) - Troy Egan > > Level of participation - [1.55.29](https://youtu.be/wnaXlv9onAo?t=6913) - @newmindflow ## Revenue Models > We don't need a lot of people bidding - we need the rignt people - [1.55.48](https://youtu.be/wnaXlv9onAo?t=6948) - Rich Kopcho > > We should focus on letting the market set a price - [1.57.09](https://youtu.be/wnaXlv9onAo?t=7029) - New Mindflow, Rich Kopcho, Tyler Wales ### Revenue Models - [1.58.22](https://youtu.be/wnaXlv9onAo?t=7102) - Rich Kopcho > What are the best and brightest revenue models ? ![](https://1243383925-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MW1-MX0JnlP6_zoYjrm%2F-MWu-CtJ2DOSCGJjC-d7%2F-MWu-enLiK9X2R4-QwIk%2Fscreen.jpg?alt=media\&token=7b5a7402-c768-4a65-9a58-b3ec27e506b1) | **The Market** | **Needs/Wants** | **NFT Revenue Models** | | -------------- | --------------- | ----------------------- | | ETH | ADA Market | Transaction Fees | | OpenSea | | % of Revenues | | Rariable | | Saas Operation Model | | | | Contract Development | | | | Consulting | | | | Stakepool | | | | **Dependencies** | | | | Buyers/Sellers | | | | Marketplace & Contracts | What should our Business Plan point us to ? ## HOLON Guidelines - [2.02.52](https://youtu.be/wnaXlv9onAo?t=7372) - Troy Egan > HOLON etiquette -how do we communicate in respectful way ? > > How to capture/reward value added in Discord ? > > GitHub good at tracking changes /contributions - [2.07.08](https://youtu.be/wnaXlv9onAo?t=7628) - Dan Verowski > > Tag conversations in Discord for documentation - [2.07.44](https://youtu.be/wnaXlv9onAo?t=7664) - Tyler Wales ## Tokenomics - [2.08.20](https://youtu.be/wnaXlv9onAo?t=7700) - Dan Verowski > Whos Who in each HOLON ? - [2.09.26](https://youtu.be/wnaXlv9onAo?t=7766) - Hud > > memefactory - [2.12.15](https://youtu.be/wnaXlv9onAo?t=7935) - Dan Verowski {% embed url="" %} > memefactory has an interesting business model where locked meme tokens receive pineapple rewards (like privileged access to NFT Drops) > > Nifty because : If token holders have to actively participate in claiming token rewards then they do not count as legal dividends subject to KYC (Know your customer) > > Suggestion : Incorporate a similar reward system within NFT-DAO > > Is there a clear distinction between NFT-DAO Governance and Utility token use cases ? - [2.15.02](https://youtu.be/wnaXlv9onAo?t=8102) - Dan Verowski > > Preference for two seperate NFT-DAO Governance and Utility tokens to balance associated voting powers. > > memefactory has a built-in QA process - [2.15.57](https://youtu.be/wnaXlv9onAo?t=8157) - Troy Egan > > Useful community vetting process - avoids spam - promotes quality > > Challenges to proposed memes (NFTs) are costly in terms of token investment. > > NFT-DAO Governance and Utility tokens - [2.18.12](https://youtu.be/wnaXlv9onAo?t=8292) - Troy Egan > > Research needed on different token ecologies. Token use to be constrained with the NFT-DAO platform in some way. > > Store of value - [2.20.53](https://youtu.be/wnaXlv9onAo?t=8453) - Dan Verowski > > Distinction between tokens that : > > 1\) have a deflationary store of value which attracts investors looking for scarcity and voting powers analogous to Board members > > 2\) are geared towards day-to-day utility of NFTs > > Need to carefully scope Governance Tokens - [2.21.50](https://youtu.be/wnaXlv9onAo?t=8510) - Tyler Wales > > Possible abuses of the system > > Vesting period - [2.22.53](https://youtu.be/wnaXlv9onAo?t=8573) - Dan Verowski > > Building trust, having a solid model to communicate > > Fixed limits on allocation of tokens - [2.24.04](https://youtu.be/wnaXlv9onAo?t=8644) - New Mindflow > > Discussion [2.24.38](https://youtu.be/wnaXlv9onAo?t=8678) - Troy Egan, Tyler Wales, New Mindflow, Dan Verowski ## Thank You [2.28.08](https://youtu.be/wnaXlv9onAo?t=8888) - Troy Egan