I would like to set up either a weekly or bi-weekly forum where artists submit an NFT available for purchase on a NEAR market (e.g. Mintbase, Paras). The community would then vote (via likes) on which NFT we will buy.
We should establish a budget for this as well as a maximum price we are willing to spend per NFT. If the top voted NFT doesn’t cost the maximum then we will either roll over the amount or spend it on the next highest voted item (provided the remaining amount is enough)
I don’t believe that sputnik currently has the functions to let DAOs purchase NFTs directly so I am willing to front the money for this each week and get reimbursed by the DAO when I transfer the NFTs to HypeDAOs wallet.
Currently I think the budget per month should be 200N, and we would spend 50N per week, but I would love to hear the communities thoughts on all this!
9 Likes
Uow great initiative @EV3RETH ! Great expectations about it! 
Awesome move! Maybe divide the 50N into more nfts, so set the price to buy it for X will work, maybe 10N. Or 50N will be your guy, but i think its a lil unbalanced. 25N is a second guess. This will work toward the floor price of near arts. 10N its a good floor.
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This is fair, perhaps we will limit it to 25N and do two purchases per week!
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Awesome idea, this will definitely showcase other artists with potential. Kudos to the team. 
We will be looking forward to joining this activity.
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Great initiative…
The only concern I would have is that using only “likes” as the deciding factor does leave it open to manipulation/gamification.
Maybe use forum likes to select a top 5…then the DAO council vote on the final selections ?..
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Likes it not a good vote system. Maybe the council will choose. Or use the hype token to create a governance council to vote
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These are valid concerns about likes as voting system.
The two ideas I like rn are:
- likes chooses top 5, council votes from there
- likes count as votes to weigh in on the councils 4, essentially being a tie breaker. Or we could weigh the likes vote heavier to say 3 votes with 2 to first place and 1 to second place
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I’m generally in favor of buying art, but what’s the goal of this? What does HypeDAO plan to do with an art collection? Use as investment? Have art shows? Sell it off? Give it as gifts? Print it on t-shirts?
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Main goal is just to support Near artists with consistent purchases. Some side goals would be to use the purchases as investments for HypeDAO and sell them at a later date and/or have a showcase (either an event or in the metaverse somewhere.
For transparency sake I do have to say this will probably have to wait a month or so, we ran into some issues with our budget being overextended due to the new grant rules. Hopefully we can get that sorted out quickly and back on track!
3 Likes