The list of collection of NFTs “promising” is as long as their effective number is reduced once the initial excitement subsided. With few emblematic projects remaining at the forefront of this constantly changing scene. And a plummeting market since its last all-time high in January this year. The opportunity for some to rethink their internal dynamics in order to support an ever-present community. As in the case of the project Moonbirds who announce the next implementation of a DAO.
fashion is Decentralized Autonomous Organizations (DAO) in the cryptocurrency industry. Structures intended to manage projects or investments in a transparent and community-based way. But sometimes simple investor clubs with more than questionable managementin any case with regard to the ideological prerequisites supposed to animate its implementation.
Whatever, this option seems to be becoming the norm when it comes to iconic NFT projects. Because it is under cover of an Apecoin DAO that Yuga Labs launched – without being officially linked to it – the APE cryptocurrency in connection with the Bored Ape Yacht Club (BAYC). A way of not having to be accountable to regulators? In any case, this is the choice that the structure has also just made. ProofCollective at the origin of the collection Moonbirds. Explanations…
Moonbirds DAO – An endowment of $26M
The announcement was made public yesterday (October 3) on the official NFTS Moonbirds Collection Twitter account. A Decentralized Autonomous Organization (DAO) should be in place by early next year. With the main goal of “enabling creatives to advance the ecosystem, reputation, lore (and memes) of Moonbirds“.
And, to accomplish this mission, an allowance in the form of$2.6 million war chest donated by Proof Collective. The latter distributed in the form of 2 million dollars in cryptocurrencies ETH and the rest in copies of Moonbirds. The latter come from the private collection of Proof Collective for $100,000 (7) and scheduled redemptions of up to $500,000 (about 37). But that’s not all…
” To provide continued support to his DAO, 35% of royalties from secondary sales of Moonbirds and Oddities will accrue to him in the form of ETH. Additionally, any additional tokens or airdrops of NFTs will go to the DAO treasury. »
Moonbirds – A cryptocurrency planned for 2023
In order to avoid any excesses or seizure of community power, this Moonbirds DAO will go through a “cold start” stage. This in order to allow the Proof Collective structure to veto what are presented as possible “rogue proposals”. But in effect, “Moonbirds and Mythics holders are eligible to participate and vote on DAO activity. With a “distribution of powers” still to be defined before its official launch, scheduled for the beginning of the year 2023.
” We doubt that will happen, but we want to put safeguards in place to protect against attacks until we are comfortable with the voting process.. »
An implementation of this Moonbirds DAO which could therefore correspond on the calendar to the launch of a utility cryptocurrency announced a few weeks ago by Proof Collective. Or even ultimately be the main reason, a bit like the BAYC model mentioned above. Because the structure behind this collection does not lack initiatives and new ideas to energize this project. Even if she claims at the same time to be aware that ” the world doesn’t need another token to speculate“. On good terms…
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Moonbirds DAO – A $2.6M community governance project – CryptoActu
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