22nd March, 2021, NFT-DAO Business Planning Meeting
Last updated
Last updated
Here is a list of timestamps for this meeting (the links are external). Please amend if I have misheard or misinterpreted some content.
Note : Timestamps are external links.
The minutes for this meeting ...
Discord context
Reference
Discord context (Business Planning Channel):
Summary
Reference Governance Holon –Update(17-3-21)
Common Themes
Discord context (Business Planning Channel):
June/July before full constitution ready
Interim solution - Bill of Rights - General Principles of the DAO
Like a manifesto ? - Hud
Agree short-term one-page manifesto ?
Discord Channel - Genesis Block Start Here - is a manifesto
Reference :
Some acknowledgement of reading founding document/principles
Recommend reformation and redesign of NFT-DAO Discord Server and hiring experienced Admin
NFT-DAO - A collaborative NFT Economy
Version 3 Business Plan/Canon
Insufficient funds at present to build what we need to build (Fund 3)
unfunded costs rolled forward to subsequent Catalyst Fund stages
Roadmap overview - 32.52 - Troy Egan
Our Story - 34.16 - Troy EganBackground on how DAO formed out of Catalyst Fund application
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Distinction between Business Model (revenue etc.) and Organisational Model (how DAO works)
DAO theory - Vitalik Buterin - 38.53 - Troy Egan
Reference :
Compromise between automated trustless systems and heterogenous trust based systems
References
The Holonic Enterprise as a Collaborative Information Ecosystem - 2001
The Ghost in the Machine - Arthur Koestler
HOLONs as an organisational structure
Standard HOLON induction process required to avoid silo effect
Note : Mihaela Ulieru / Explanation of HOLONs - 43.04 - Rich Kopcho
Mihaela Ulieru one of the authors of 'The Holonic Enterprise as a Collaborative Information Ecosystem - 2001' currently works for IOHK
Reference
Discussion - 45.54 - 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
Tiered Engagement Program - contribution incentives
Equity weightings
Nurture phase of Cataylist - 52.58 - Rich Kopcho
Order to Chaos - Chaordic organization
Reference :
Minimum Viable Product (MVP) - Revenue share
Auction and Pre-Sale Revenue targets
Consensus that more artists needed
Fees and Royalties
How many artists want to particpate ?
How many investors want to particpate ?
Market Research update - 1.03.02 - Sev
What would be minimum market research required to start MVP ? - 1.04.15 - Troy Egan
Main NFT market painpoints - 1.05.16 - 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 ?
Legally enforceable contracts
Start with very simple contract
Purchase orders
Action - NFT transaction experiment - 1.11.04 - Rich Kopcho
Liability concerns - 1.11.42 - Wilhelm Horrix
Discussion - 1.12.07
Request for flow diagram - 1.14.34 - Troy Egan
Discussion - 1.15.01
Transaction flow diagrams
Revenue Targets- 1.16.19 - Dan Verowski
Revenue Targets- 1.16.42 - Rich Kopcho $150,000 Development costs as Revenue Target
Discussion - 1.17.26
Call for Artists 1.18.43 - Dan Verowski
Discord channel: Name the Artplace Market 1.19.37 - Tyler Wales
Answer - We are selling NFTs before we can mint them - Troy Egan
Discussion on NFT Pre-Sales - 1.21.14 - Troy Egan, Dan Verowski
Pre-Sales risky - Dan Verowski
Artist view on pre-sales - 1.22.26 - 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 - Andy
Broken into three tier offerings
Success of Cardano Kidz presales
Pre-Sales risks - 1.25.21 - Tyler Wales
Risk Mitigation, set-up a Stakepool for sustainable revenue
Experiment with pre-sale, Creating demand with time-limited auctions
Discussion - 1.28.29 - Troy Egan, Dan Verowski, Tyler Wales
Window - 5 minute sale - 1.29.18 - Troy Egan
Discussion - amount of artwork in initial sale.
Update - 1.31.44 - @newmindflow
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 - Rich Kopcho
Auction buyer redeems NFT when Plutus contract functionality live.
Importance of a transparent process that inspires trust - 1.37.59 - Wilhelm Horrix
Timeframe of 1 Month - 1.38.58 - Troy Egan, Rich Kopcho, Tyler Wales
Technical impossibility of automated auction for minimum viable product (MVP) - 1.40.18 - 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 - Dan Verowski
Discussion - 1.41.59 - Troy Egan, Rich Kopcho
We need to scope options to 1 month deadline
Importance of a deadline - 1.42.08 - Rich KopchoWe need someone to own the auction process - 1.44.05
Discussion - 1.44.21 - Wilhelm Horrix / Tyler Wales
Landing page - Tyler Wales
NFT-DAO Token - Wilhelm Horrix
Discussion - 1.49.52 - Tyler Wales, @newmindflow, Andy
Artist percentages in smart contracts, number of artworks
Plutus Development - 1.51.16 - Rich Kopcho / Hud
To keep track of timeframes
Set-up samepage infrastructure - 1.52.25 - Tyler Wales
Funding / Timeframe goals - 1.53.51 - Dan Verowski
Summary - 1.54.59 - Troy Egan
Level of participation - 1.55.29 - @newmindflow
We don't need a lot of people bidding - we need the rignt people - 1.55.48 - Rich Kopcho
We should focus on letting the market set a price - 1.57.09 - New Mindflow, Rich Kopcho, Tyler Wales
What are the best and brightest revenue models ?
What should our Business Plan point us to ?
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 - Dan Verowski
Tag conversations in Discord for documentation - 2.07.44 - Tyler Wales
Whos Who in each HOLON ? - 2.09.26 - Hud
memefactory - 2.12.15 - Dan Verowski
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 - 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 - 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 - 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 - 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 - Tyler Wales
Possible abuses of the system
Vesting period - 2.22.53 - Dan Verowski
Building trust, having a solid model to communicate
Fixed limits on allocation of tokens - 2.24.04 - New Mindflow
Discussion 2.24.38 - Troy Egan, Tyler Wales, New Mindflow, Dan Verowski
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
