[IDEATION]: Marma J Foundation: NFT-Onboarding DAO
Submission by: bianca.near
The Marma J DAO exists with the purpose of supporting creatives who aim to spread love and positivity throughout the web3 community. Currently, the Marma J SputnikDAO is where the Marma J Council Members vote on proposals submitted on the NEAR blockchain. Each proposal to the Marma J SputnikDAO also requires a Discourse Forum link upon submission.
One of the main funding avenues planned for the Marma J DAO are split royalties and fees from NFT sales on the Mintbase platform. All NFTs minted on the marmaj.mintbase1.near store will have a minimum of 3% royalties going back to “marmaj.sputnikdao.near”. This means that the Marma J DAO will earn off of every one of its NFT’s that sales, forever. This cycle will generate revenue for the Marma J DAO to support incoming proposals from our community members.
The Marma J Membership: (testnet example)
The marmaj membership is an NFT that signifies that an account is officially a member of the Marma J Foundation. These membership NFT’s will be minted by mamraj.mintbase1.near and may vary in visual appearance, but their intended purpose is simple. Once these tokens are minted there are a few different intended pathways for them:
- Auctioned off on Mintbase marketplace to raise funds for DAO
- Donated to individuals/projects that align with marmaj mission
- Transferred to any address that proposes a successful payout proposal to the marmaj SputnikDAO
The mamraj membership NFT is only valid in the calendar year that it is minted in. This provides the community with a group of holders that should be “currently active community members” and allows the Marma J Foundation to use membership NFT’s to enhance its community incentive program.
There are two main incentives to holding a marmaj membership NFT:
- A random assortment of marmj membership NFTs will be purchased using marmaj.near staking rewards at the end of each calendar year. NFT holders will be able to put their membership NFTs up for sale and the Foundation will randomly purchase some of them (up to a threshold amount, in NEAR).
- Holding a marmaj membership NFT in a wallet will provide a multiplier to the payouts earned from Marma J DAO payout proposals. For example, if there was a bounty for 10 NEAR, but the community member who completed the bounty had a marmaj membership NFT in their wallet, the payout might actually be 11 NEAR if there was a multiplier of 110% (some marmaj memberships may have “rare multiplier attributes” providing an even larger boost).
- Each year, the experiment will start fresh! Old NFT’s (from previous calendar years) will no longer have any value in the community platform/system, but may still have value for other reasons and are free to be traded on the open market.
- There is no planned “edition limit” for these membership NFT’s. The current goal is to mint at least 219 marmaj memberships in 2021, but they will be minted one at a time as they are needed.