Since the beginning of April 2021, through to the launch of our DAO in July, NxM has been a work in progress, exploring how a Guild and DAO on the Near Protocol can support independent artists through funding their activities and the management and growth of the community.
It has been a fantastic journey thus far, but this is just the beginning…
So what’s next?
Over the coming two months, through November until the end of December, we are looking at introducing a number of changes and upgrades to NxM to accommodate the awesome technology being build on Near and to facilitate our growth and decentralization of the community and DAO.
Phase One:
Changes to the way we issue funding for projects and artists
Through November we will be working on the documentation and guides around how community members will apply for Grants from NxM. This will be done through TWO streams.
Stream One: The NxM Events Grant
The Events Grant is aimed at streamlining the process in which community members apply for funding for their events.
Here are some of the things we will do:
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Application Form - Created through typeform or google forms this form will guide applicants through what is required of them to be eligible for funding, including the amount available to be requested and detailed expectations.
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Application Deadline - An application deadline will be scheduled with a window to apply and the time it will take for the NxM DAO council to review applications.
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Application Guide - A guide will be developed to ensure applicants have all the information they need to submit their Events related proposals.
Stream Two: The NxM Projects Grant
The Projects Grants are meant for individual or group collaborative projects that are not events related. This could include funding for recording, mixing, mastering or other music related activities NxM community members what to embark on.
Here are some of the things we will do:
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Application Form - Created through typeform or google forms this form will guide applicants through what is required of them to be eligible for funding, including the amount available to be requested and detailed expectations.
-
Application Deadline - An application deadline will be scheduled with a window to apply and the time it will take for the NxM DAO council to review applications.
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Application Guide - A guide will be developed to ensure applicants have all the information they need to submit their Projects related proposals.
NxM DAO Migration:
Before requesting our November funding from Creatives DAO, we will finalize the migration of our treasury to our newly created Astro DAO. This will happen once our October payouts are complete.
Addition of New Council Members:
It’s time to add some new members to the NxM DAO council. We will be making a call out to the community to see who is interested and have them create a forum post on the reasons why they would like to be a part of the NxM DAO council, similar to how the new additions were added to the Creatives DAO council at the end of September.
Phase Two:
A Move to NEAR Grants
Phase Two involves the creation of a plan to grow NxM into a DAO that can ultimately be self-sustainable. A shift from being funded by the Creatives DAO to securing 3-6 months of funding from NEAR Grants will be implemented so that funds can be staked and pooled, allowing NxM to earn rewards that can be reinvested into the community projects and contribute to sustainability measures.
- Submit an application to NEAR Grants for short to long-term funding at the end of November.
Explore NEAR DeFi Integration
NxM is the premier Music Guild in the NEAR ecosystem. We have spawned a variety of related guilds/DAO and have nurtured a growing community of Near enthusiasts along the way. With that said, we feel like it’s time to take things to the next level and to launch our own DAO governance token so we can fund even more initiatives as we move into 2022.
- IDO for NxM ($NXM) on either Skywards or NearPad.
- Whitelisting on Ref Finance and the creation of the NXM / wNEAR liquidity pool and farm.
- Explore the creation of an NXM stable coin with OIN (watching how Paras does this).
It is likely that Phase Two will begin in December and that we can look forward to expanding NxM through a DAO governance token with more support from Grants leading into 2022 as we actively look for suitable partners to make this happen from a technical and economical standpoint to ensure a solid tokenomics structure is implemented.
Notes:
Keep in mind that this is just a proposal to introduce the potential coming changes to NxM and not a final proposal for each Phase, although Phase One seems most realistic to achieve if this proposal is supported by the community.
With the additional work required to create the guides and applications outlined in Phase One I would like to request additional funding from Creatives DAO for this. To be determined by the response from community and council.
To explore our ecosystem map (WIP) please visit our Miro Board.
I’m looking forward to feedback from the @creativesdao-council as well as the entire NxM community when we share this today/tonight!
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I hope Incubadora will follow a similar pathway that would lead it to a self-sustainable future.