[Proposal] Car Sharing NFT

Ecosystem NFT Onboarding
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Problem
How to share assets in a community/group of people e.g like a car between a closed network, in such a way as to efficiently attribute costs based on usage across a group of people.
Solution:
Create a DAO which holds ownership of the Car Asset NFT and allows owners to efficiently share an asset.
Members of the DAO agree to pay a daily ownership fee to the DAO to maintain the right to use the asset.
A member controls the asset when they “Borrow” the NFT from the DAO, while the member borrows the NFT they pay a usage premium calculated in 15-minute blocks allowing costs to be attributed to users. The usage premium accounts for fuel, maintenance, insurance per kilometre etc. At the end of the contract the member returns the NFT to the DAO. To manage the peak usage of an asset the members can bid up in increments up to a hidden maximum and the winner will be awarded the loan of the asset.
At the end of the year, members of the DAO can receive credits for over payment of daily payments as this is offset by usage premiums earned by the DAO. The DAO automatically allocates payments via Coinbase to a bank account which has setup accounts to pay costs like insurance, maintenance etc. ensuring that such costs are covered as needed and all members are up-to date on contributions, this is a condition to being able to loan the NFT.
The custodian of the asset (car) will be an Association which is run for all assets in the ecosystem, the administration is done with minimum administrative overhead and mostly through online channels. The custodian, will contract with members to carry out tasks relating to the asset, for which they can earn tokens which can be redeemed for future costs and dues. The relative asset shares are registered in the DAO based on staking of Asset purchase cost, this can be decided within the community.
Enhancing the Mint base marketplace by:

  • Asset owners will be using the NFT generation for a new use case
  • NFTs can be used to distribute ownership rights allocating ownership over complex interactions
    **Leveraging the NEAR ecosystem by: **
  • All NFT transactions will be on the NEAR ledger
  • Creating more DAOs on the Near platform
4 Likes
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Thanks for the proposal.

Throwing in some thoughts; I think it would actually be interesting to explore different use cases that bind a physical item, like a car or a house or a phone, to a digital one, like an NFT.

Maybe clothes would be a better use case here, no? How do you ensure that there is a one-line between the physical and digital?

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Hi Yassine,
While the clothes use case can be applied, the use-case I am proposing here is for collective ownership. The current legal system would require that a asset guardian is appointed either this would be the financing company (which is itself operates on the de-fi network) with an incorporated entity in the country. Assets are financed and leased through this company. As the legal framework allows other custodial forms can be considered.

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How many people do you think could own a car together?

This would also be interesting for my ART+TECH non profit where we have a “library” of assets (projectors, computers, etc that get used to put on physical digital art shows). Could one DAO be used for multiple items or would it be one dao per item?

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@Shambhala Have you made any progress on this? I had a similar idea and then found your post. I’d love to chat more about it.

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This idea is definitely something that could work in the near future. The relationship of DAOs, NFTs and physical assets is the next step to take in the ecosystem in my opinion.
Obviously some details would have to be polished to make this as effective as possible as some of my colleagues said above, but I like it a lot! Do you plan to build something? Let me know!

3 Likes