Capturing and sharing value
If you are not familiar with what DAO's are, you are not alone. Although this term gets thrown around the industry on a daily basis, many don't fully understand it.
In simple terms, DAO's function as communities with shared bank accounts and no centralized leadership. Decisions get made from the bottom-up, governed by a community organized around a specific set of rules which are enforced on a blockchain.
DAO's bank account AKA its treasury can only be accessed with the approval of its members. Governance decisions are made via proposals and the subsequent group votes.
DAOs have the potential to reshape the way we work, make group decisions, allocate resources, distribute wealth, and solve some of the world’s biggest problems. FYI DAOs are why Ethereum was created in the first place.
If blockchains, NFTs, smart contracts, DeFi protocols, and DApps are tools, DAOs are the groups that use them to create new things. They’re the Web3 version of a company or a community and as people experiment with new building blocks and structures, DAOs will have emergent properties that we can’t predict today. (1)
DAOs sit a level above NFTs -- DAOs can own NFTs and create NFTs, plus do a whole lot of other cool non-NFT things -- and have more transformative potential than any singular niche. If an NFT is a piece of digital media; a DAO could be a whole media company.
To capture and share the value across the whole ecosystem, we will be launching EMILYDAO with a corresponding NFT Investment Fund (otherwise known as the Syndicate).
The Syndicate will gather the best artworks of notable artists from both the traditional and digital world but will not be limited to only art. The Fund will also invest in other digital assets like virtual plots of land, collectibles, music, fashion and gaming.
The Syndicate will be developed towards becoming fully autonomous in the future and collectively managed by EMILYDAO members through the use of a governance token.
The scope of activities will grow with time as Peppermint labs expand its services and EMILYDAO moves towards full autonomy.
Another purpose of the $EMILY NFT Token will be to represent and manage the asset value collected in this ecosystem. The artworks and other non-fungible assets in possession of the fund will either:
Be held in EMILYDAO treasury,
Staked for positive utility.
Reinvested in the incubated projects or other crypto protocols.
Actively traded on various marketplaces including our in-house solutions
Directly negotiated with collectors, museums, and art galleries around the world.
EMILYDAO will be a community-first, decentralized autonomous organization that generates value for its members, artists and creators in the growing blockchain ecosystem.
If you haven't read our previous blog post, the task of our team is to establish an ecosystem of related business activities that complement each other and bring value back to the Syndicate. Every future product will add more utility to the network and directly link back to EMILYDAO.
A portion of the initial sales revenue, secondary market royalties and fees from the other products in our ecosystem will all be split between the EMILYDAO, the team and our unique burn mechanism. All the Emily NFT holders will have access to the Syndicate which controls this treasury and decides on its expenditure.
DAO smart contract
Decentralisation and being autonomous are widely believed to be critical components of the Web3 ethos, and as such, our DAO smart contract will aim to achieve precisely that. Our smart contract will provide a fair playground for all its participants where the token holders make decisions via a governance proposals mechanism.
Right now we are still solidifying the final features of the DAO protocol and are looking forward to your feedback and desires on additional attributes.
Members directory & Discord Holders Lounge
Token-gated content on various platforms
Member-only chat / Discord, Telegram
Early access, discounts, special offers within all products of the ecosystem
Asset management features:
Treasury dashboard tracking all assets in one place
DAO-owned wallets: stablecoin, ETH, NFT holdings, third-party tokens.
Workflow for contributor payments, invoices, etc.
Ability to delegate small spending decisions to individuals and small teams.
Ability to create SubDAOs with localised governance and budgeting
Ability to appoint agent-of-record for off-chain representation, e.g. property ownership, fiat banking, employment contracts
Ability to sign contracts with off-chain vendors
Fiat-based bank account (via linked traditional entity)
Ability to own off-chain assets: real estate, fine art, etc
Ability to pay for SaaS products as a DAO, e.g. for Notion, Typeform, etc
Cross-DAO access: members of one DAO granted access to another one
The road to full decentralization won't be easy, but with the right framework in place nothing is impossible.
An agile framework, enough smart people with enough passion, tools, voice, and incentives, combined with a friendly survival of the fittest culture, will help us get there. The world surely is going to be a very different place when we do. Want to check out the Beta version of our DAO? Click here. Want to join in? Fill in this quick Form
Visit whoisemily.com for further information and follow our official profile on Twitter. Want to become a DAO contributor? Join the conversation on Discord, would love to hear your ideas.