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Frequently asked questions
Decentralised Autonomous Organization, aka DAO, is a revolutionising new kind of organisational structure. A DAO can be of anything, such as investment, governance and development, etc. Here at D4A, we focus on fostering content creation and collaboration of different art forms.
A D4A DAO is the DAO created by DAO Creators for different storylines and backgrounds upon which art works are created, the main content and organization structure of D4A.
A DAO Creator is responsible for creating the background and storyline of the DAO’s content, think of it as creating a new world. The DAO Creator will be configuring the initial parameters of the DAO as well as organising its communities for all future discussions and collaborations. By doing so the DAO Creator is also faced with lucrative rewards should the DAO thrives.
Note that the DAO Creator can also be a Canvas Creator as well as Minter (collector) of that same DAO. D4A does not have weird restrictions.
A Canvas is the personal presentation page of an artist/content creator to list works for a specific D4A DAO. It has its own statistics and each artist can create multiple Canvases for many DAOs.
DAO Token is specific to that DAO. It’s a DAO controlled ERC20 token that was generated automatically by DAO’s smart contract. It represents the artist’s contribution to the DAO, thus granting the artist exposure to not only his original mint sale ethers, but also future income sources such as royalties payment.
D4A takes a 2% cut of DAO Token, in the form of DAO Token, rewarded linearly in the same way of that to the DAO Creator.
D4A takes a 2.5% cut of Mint Fee, in the form of ether, upon each successful mint sale.
D4A takes a 2.5% cut of Creator Fee, i.e. royalties, in the form of ether, from secondary market trading of DAO collections.
Notice the latter 2 can be temporarily lowered or removed for future promotions.
As the names suggest, D4A is a DAO to create more DAOs for arts. Its primary goal is to help kickstart, collaborate, grow and manage DAO for arts, as well as its continuous building. Simply put, in comparison to marketplaces, D4A is the previous step where people create contents that will later go on trading platforms.
Incentive-Compatibleness, collaborative and iterating content creation, enabled by all the handy tools created by the industry in the past years, built by a true DAO (not a clandestine company full of backdoor deals) with a groundbreaking governance model…crypto market has never seen anything like this.
Go find an art work you like, be it a painting, PFP, music, piece of a collaborative fiction, or anything, and buy it, simple as that. For the not so simple part, especially as the collector paying the money, please read our User Guide.
Upon completion (some even before completion) of the minting period, the collection’s contract will be submitted to marketplaces like Opensea, where trading will take place. It is under consideration to interacting with more NFT trading marketplaces in the futrue.
This is the hidden million dollar question in the industry. Due to the lack to compulsory royalty payment EIP (Ethereum Improvement Proposal), the payment of royalties rely on the good will of each individual marketplace where the trading is executed.
In the current version, 70% of the mint sale ethers go to the artist’s wallet directly and immediately, 30% of the ethers enter into the DAO’s Asset Pool, with which a corresponding amount of DAO Token is rewarded to the artist.
The artist can swap these DAO Tokens to ethers anytime.
The ethers that can be swapped back with DAO Tokens will always be at least 30% of the total original mint sale amount.