Post Mint
Author(s): @jakestandley#0001
Sprint Period: January 27th, 2022 - April 4th, 2022
Moving forward these recaps will be done every two weeks during a session, or at the end of the Sprint.
At the end of the sprint, a longer form recap will be done where we highlight all of the progress made, as well as perform the post mortem outlined in the Session 1: Initiatives Proposal
Quick Links
Summary
Between the launch of the omgkirby NFT project in late January to the kick off for Session 1 of our work to progressively decentralize the project - a lot of work has been accomplished.
So far, the team’s focus has been on:
Building the infrastructure for eventual decentralization/DAO implementation
Fleshing out the technical capabilities of the Notables site so holders can take advantage of all of the perks (access to stems, WAV files, etc.)
Promoting the project across the music industry, highlighting the omgkirby community as one of the first decentralized artist projects in the space
A highlight of this is Post Mint period was the “Playground” drop - one of the first songs from a decentralized artist to drop on Spotify - built by omgkirby & the community on a Twitch stream.
There’s plenty of work left to do before the omgkirbydao is fully decentralized & the community has the information, education & sovereignty to accomplish what they need. But I think the last month has been an awesome feat of what a group of ~2000 people can do in the music industry & web3 space if they’re curious and passionate.
Proposals
Our proposals this far have been focused on getting the project up & running, and making sure our community is involved and their voices are heard.
So far, all proposals have been voted on via Snapshot. We’re working to understand some best practices from other DAOs, and whether or Snapshot is the sole way we should be hosting votes, or if we should have multiple forums of voting, depending on the scope of the ask.
Should omgkirby’s song created on live stream on 1/30 be used as the DAO’s first track?
273 Yes (99.27%)
2 No (0.73%)
Q1 Community Management Budget Proposal
30 Yes (96.77%)
1 No (3.23%)
Post Mint Wallet update
After the mint, all funds were housed at: 0x1aBdDC3293Ec0b0909605A1Bc8939cF7E98a4E7a
I've broken down the transactions on this wallet leading up to the transfer of the funds to our multisig wallet. You can view the line-item version of this information here, I have a high level P&L view below as well.
| Category | Mint Wallet (ETH) | DAO Ownership (%) | DAO Treasury (ETH) |
|---|---|---|---|
Mint Revenue | 297.70 | 25% | 74.43 |
Artist Payment | (59.54) | ||
Mint Subtotal | 238.16 | ||
Secondary Revenue | 60.62 | 67% | 40.41 |
Secondary Subtotal | 60.62 | ||
Additional Revenue | 3.50 | ||
Additional Subtotal | 3.50 | ||
Mod Expenses | (2.10) | 100% | (2.10) |
Other DAO Expenses* | (5.78) | 100% | (5.78) |
Other Expenses | (160.93) | ||
Total Expenses | (160.93) | (7.88) | |
Txn Fees | (1.09) | ||
Total Txn Fees | (1.09) | ||
Total Wallet | 132.38 | 106.96 |
After aligning on this breakdown with the team at Notables, 106.96 ETH was transferred to our DAO treasury.
The address for our multisig wallet is 0x7291cc605653a9FCfbceD63313156E654eAF259b.
Post Mortem
Note: Organized by Working Group in future recaps
Mint Team
What worked best in organizing your committee around delivering this initiative?
Setting up consistently weekly meetings helped the team stay organized and focused on key tasks
Having team members who specialized in web3 & the music industry involved simultaneously. This helped us better set expectations & understand both sides of the coin for launching this project
What would you do differently if given the opportunity to redo this initiative?
Better set up a schedule of content & deadlines for transitioning the DAO to take advantage of post-mint hype
Create more opportunities for Team & Community Members to connect, whether in voice chat, text chat or something similar to a forum.
How has this initiative opened up new opportunities for the community to fulfill its vision?
Project has launched! And now the progressive decentralized can start to kick off, and hopefully empower the community to take part.
Creation of Working Group templates will hopefully lead to more proposals being created by the Community for future sessions.
Next Steps
Establish Treasury Management System
Launch Working Groups with Community Members involved
Complete S1: Sprint 0 - focus on recruiting active community members
Helpful Resources
Conclusion
As Session 1 kicks off, I think we’ve laid the ground work for a successful 6-8 weeks of work from the team & any community members who want to get involved.
We’re continuing towards our goal of being a multifaceted web3 music project where holders can own the most valuable & advanced generative music songs, contribute to the direction of a decentralized music artist, and be a part of a community that will disrupt the music industry and provides new pathways for creators, musicians, and artists to succeed.
Make sure to stick around and get involved if you’re passionate about web3 and/or supporting musical artists. Working Group Applications are live now! We’re paving the way for future DAOs to hopefully do the same.
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