The DAOs 🗳
Each Crew in our ecosystem will be empowered with its own Decentralized Autonomous Organization (DAO), complete with funding, tools, opportunities and access to our reliable service providers.
Every Crew will have a DAO under the control of its Crew members, which totals 16 DAOs. The funding for each DAO will be derived from various sources, including secondary sale royalties, a funding pool powered by CFT, FRMD staking rewards, node rewards and an initial cash injection to jumpstart the DAOs. We also plan to diversify our investment sources, adding additional funding and opportunities.
Each DAO will be outfitted with the following:
Voting Mechanism: Empowering you to vote on all proposals brought forward to your DAO. Each NFT you hold gives you one vote (0.225%) in the corresponding DAO.
Proposal & Forum Page: A dedicated space for you to communicate, plan with your Crew, and pitch proposals. After discussion, you can submit the proposal for voting within the DAO.
Stats Page: A dashboard to view your Crew's statistics alongside your treasury's data.
Funding: Each DAO will receive sustained funding from the funding pool and an initial cash injection to kickstart the DAOs.
Service Providers: All DAOs will have the privilege of accessing our trusted service providers.
We are also working and looking into implementing a couple other tools and investments that will benefit the crews but will reveal these at a later date. We are also open to suggestions for building and providing more tools for The Crews, so if there is a particular tool etc you want added, please reach out.
So why are we doing this?
Community: We aim to create a unique community experience packed with opportunities to grow. Each Crew's DAO, with its funding, helps us to achieve this goal. With 16 different crews/ DAOs, you will be able to find a Crew that aligns with your vision and mindset.
Value: We aspire to create a more dynamic and nuanced system for determining the value of the Crews NFTs, instead of merely relying on standard rarity rankings based on traits, we believe in providing our NFT holders the power to add true value to their Crew NFTs through their decisions. Each Crew, with a funding pool, tools, service providers and opportunities that we provide, can create value in numerous ways.
Here are a few ways a Crew can enhance its value:
Investing: By investing your Crew's funds into other assets like Crypto, NFTs, etc., you could increase the base value of your Crew based on those assets.
Hive mind: A Crew filled with like-minded individuals, all committed to mental, physical and financial growth, this can create demand to access to such a group.
Business: If a Crew invests funds to start a business, with a portion of the revenue going back into the Crew, strengthening its value as the business succeeds and able to offer perks to Crew holders.
Vibes: If your Crew prizes vibes above all, you can use the fund for real-life meetups, events, or parties. Access to these events can be exclusive to this Crew’s NFT holders or through tickets, with proceeds going back to the DAO.
Collab with Alter: Your Crew can release a limited edition collection with Alter, sharing the profits from the collection and thus boosting your Crew's fund pool.
What makes this ecosystem exquisite is that the success of one Crew benefits all Crews. This is due to the equal distribution of secondary sales to all Crews, this is why we have the added layer of incentivizing successful, active Crews through a levelling system. Crews can level up as a collective, differing from traditional NFTs that level up individual NFTs. This system levels up the entire Crew.
Crew levelling will be based on the volume of trades each Crew performs. Hence, the more trading activity your Crew partakes in, the more it will level up and unlock rewards. This creates a fairer system, where a Crew's trading activity not only benefits it but also every other Crew in the ecosystem.
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