22nd March, 2021, NFT-DAO Business Planning Meeting
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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
Background 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)
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
Mihaela Ulieru one of the authors of 'The Holonic Enterprise as a Collaborative Information Ecosystem - 2001' currently works for IOHK
Reference
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
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 ?
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
Transaction flow diagrams
Answer - We are selling NFTs before we can mint them - Troy Egan
Pre-Sales risky - Dan Verowski
If you build story around funds being use to fund the DAO - people would be willing to engage
Broken into three tier offerings
Success of Cardano Kidz presales
Risk Mitigation, set-up a Stakepool for sustainable revenue
Experiment with pre-sale, Creating demand with time-limited auctions
Discussion - amount of artwork in initial sale.
Discussion - Preparation of landing page. Need for smart contracts to automate royality percentage distribution. Possible alternative being a 'physical' auction of tokens.
Auction buyer redeems NFT when Plutus contract functionality live.
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
We need to scope options to 1 month deadline
Landing page - Tyler Wales
NFT-DAO Token - Wilhelm Horrix
Artist percentages in smart contracts, number of artworks
To keep track of timeframes
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 etiquette -how do we communicate in respectful way ?
How to capture/reward value added in Discord ?
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
Preference for two seperate NFT-DAO Governance and Utility tokens to balance associated voting powers.
Useful community vetting process - avoids spam - promotes quality
Challenges to proposed memes (NFTs) are costly in terms of token investment.
Research needed on different token ecologies. Token use to be constrained with the NFT-DAO platform in some way.
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
Possible abuses of the system
Building trust, having a solid model to communicate
DAO theory - Vitalik Buterin - - Troy Egan
Note : Mihaela Ulieru / Explanation of HOLONs - - Rich Kopcho
Discussion - - Sev
Nurture phase of Cataylist - - Rich Kopcho
Market Research update - - Sev
What would be minimum market research required to start MVP ? - - Troy Egan
Action - NFT transaction experiment - - Rich Kopcho
Liability concerns - - Wilhelm Horrix
Discussion -
Request for flow diagram - - Troy Egan
Discussion -
Revenue Targets- - Dan Verowski
Revenue Targets- - Rich Kopcho $150,000 Development costs as Revenue Target
Discussion -
Call for Artists - Dan Verowski
Discord channel: Name the Artplace Market - Tyler Wales
Discussion on NFT Pre-Sales - - Troy Egan, Dan Verowski
Artist view on pre-sales - - Troy Egan, Andy
Update on Mary Artwork - - Andy
Pre-Sales risks - - Tyler Wales
Discussion - - Troy Egan, Dan Verowski, Tyler Wales
Window - 5 minute sale - - Troy Egan
Update - - @newmindflow
Presale option - - Rich Kopcho
Importance of a transparent process that inspires trust - - Wilhelm Horrix
Timeframe of 1 Month - - Troy Egan, Rich Kopcho, Tyler Wales
Technical impossibility of automated auction for minimum viable product (MVP) - - Dan Verowski, Tyler Wales
Pre-sale strategy makes more sense ? - - Dan Verowski
Discussion - - Troy Egan, Rich Kopcho
We need someone to own the auction process -
Discussion - - Wilhelm Horrix / Tyler Wales
Discussion - - Tyler Wales, @newmindflow, Andy
Set-up samepage infrastructure - - Tyler Wales
Funding / Timeframe goals - - Dan Verowski
Summary - - Troy Egan
Level of participation - - @newmindflow
We don't need a lot of people bidding - we need the rignt people - - Rich Kopcho
We should focus on letting the market set a price - - New Mindflow, Rich Kopcho, Tyler Wales
GitHub good at tracking changes /contributions - - Dan Verowski
Tag conversations in Discord for documentation - - Tyler Wales
Whos Who in each HOLON ? - - Hud
memefactory - - Dan Verowski
Is there a clear distinction between NFT-DAO Governance and Utility token use cases ? - - Dan Verowski
memefactory has a built-in QA process - - Troy Egan
NFT-DAO Governance and Utility tokens - - Troy Egan
Store of value - - Dan Verowski
Need to carefully scope Governance Tokens - - Tyler Wales
Vesting period - - Dan Verowski
Fixed limits on allocation of tokens - - New Mindflow
Discussion - Troy Egan, Tyler Wales, New Mindflow, Dan Verowski
