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.

Note : Timestamps are external links.

Minutes

The minutes for this meeting ...

Discord context

Introductions - 0.44

Agenda - 2:31 - Troy Egan

Reference

Discord context (Business Planning Channel):

Summary

Governance HOLON update - 4.17 - Troy Egan

Community Feedback - 5.03 - Troy Egan

Analysis - 5.18 - Troy Egan

Reference Governance Holon –Update(17-3-21)

Common Themes

Discord context (Business Planning Channel):

Recommendations - 8.21 - Troy Egan

Discussion Points - 12.34 - Troy Egan

Constitution Discussion

Overview - 12.41 - Troy Egan

Viewpoint - 13.00 - Rich Kopcho

June/July before full constitution ready

Viewpoint - 13.55 - Tyler Wales

Interim solution - Bill of Rights - General Principles of the DAO

Like a manifesto ? - Hud

Action - 14.48 - Troy Egan

Agree short-term one-page manifesto ?

Viewpoint - 15.06 - Rich Kopcho

Discord Channel - Genesis Block Start Here - is a manifesto

Reference :

Viewpoint - 15.31 - Tyler Wales

Some acknowledgement of reading founding document/principles

Recommendation / Action - 15.59 - Rich Kopcho

Recommend reformation and redesign of NFT-DAO Discord Server and hiring experienced Admin

Business Plan Draft - Presentation - 18.09

NFT-DAO - A collaborative NFT Economy

Version 3 Business Plan/Canon

Update - scope of funding - 29.54 - Rich Kopcho

Insufficient funds at present to build what we need to build (Fund 3)

Budget Discussion - 31.59 - Troy Egan

unfunded costs rolled forward to subsequent Catalyst Fund stages

Roadmap overview - 32.52 - Troy Egan

Our Story - 34.16 - Troy Egan

Background on how DAO formed out of Catalyst Fund application

Community make-up - 35.45 - Troy Egan

Market Analysis- 37.34 - Troy Egan

Our Structure- 37.59 - Troy Egan

The DAO Business Model

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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

Holonic Models - 39.52 - Troy Egan

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

Incentive discussions in Discord community - 50.56 - Troy Egan

Tiered Engagement Program - contribution incentives

Equity weightings

Nurture phase of Cataylist - 52.58 - Rich Kopcho

Order to Chaos - Chaordic organization

Reference :

Sales and Revenue - 57.36 - 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 - Tyler Wales

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 ?

How to transact NFTs - 1.06.58 - Wilhelm Horrix

  • 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- 1.15.45 - Troy Egan

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

Define presales ? - 1.20.23 - Wilhelm Horrix

  • 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

Achieving Revenue Targets - 1.26.47 - Troy Egan

  • 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

Auction in a month ? - 1.34.15 - 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 - 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 Kopcho

We 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

Need for a co-ordinator - 1.52.00 - Troy Egan

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

Revenue Models

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

Revenue Models - 1.58.22 - Rich Kopcho

What are the best and brightest revenue models ?

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 - 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 - Dan Verowski

Tag conversations in Discord for documentation - 2.07.44 - Tyler Wales

Tokenomics - 2.08.20 - Dan Verowski

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

Thank You 2.28.08 - Troy Egan

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