AIP-297: An NFT Community Vault Operating as an ApeCoin Sister DAO with a Goal to Advance the Mission and Influence of ApeCoin

[yatsiu]

Apecoin can and in my opinion should be more than “just” a currency is my point. On the topic of general community ownership of NFTs

@SmartAPE

I disagree with this in its entirety. Plus, the DAO wasn’t setup to do any of this. Buying (self-dealing aside) IP that has zero utiity or benefit to the DAO is basically throwing money away. For that, we should setup a charity and get it over with.

The DAO is structured to be governed by the community, the ability to change aspects of the DAO is part of its design. It is not for anyone of us to unilaterally decide what the DAO should or should not do if the community wishes to go in a certain direction. A difference of opinion is natural and healthy of course the choice however belongs to the community.

Acquiring a small number of NFTs that have some kind of value is not, in my opinion, throwing money away because the community can always choose to sell these NFTs and, if they so choose, return the funds to the DAO.

@SmartAPE

Aside from that (and that whole self-dealing thing), this could be [incorrectly] construed as having all the makings of market manipulation because we’re basically buying a pool of NFTs in a bid to artificially prop the value of a token that’s also instrically tied to our DOA. And this idea basically coming on the heels of a severely depressed NFT floor price is just another alarm bell. This is bad. Completely.

Acquiring 10 NFTs of a collection of 10,000 represents 0.1% of a collection, this would hardly be construed as market manipulation. If there is a concern around this we could always propose to never exceed a certain materiality threshold.

@SmartAPE

ps. The DAO isn’t setup to own, let alone sell, anything. And setting up a sub-DOA isnt going to change that without changing the structure and mission of the DAO. And going by current trends, that’s another hill to climb.

This is why it is being proposed to be a sub-DAO! The point about this proposal is to operate outside of the main DAO but with the same apecoin holders having governance control over it. Perhaps the more appropriate terminology might be sister-DAO rather than sub-DAO but sub is still relevant in that control rests within the apecoin token holders.

@SmartAPE

I would specifically like to see an example of what types of experiences can be created from a “foundation of NFTs” that we own.

Some examples could be, as mentioned earlier to create rental arrangements, you can create a form of membership and apecoin holders may use these NFTs via some agreed mechanism.

and again, as it operates as a sub-dao it is not the DAO itself. The only reason why we propose it as a sub-dao is because it would be community governed.

@SmartAPE

We can’t even get the DAO to vote on AIPs that are intrisically beneficial (from the perspective of those who lost) to it, and gaming the whole process aside, how on Earth are we going to be able to decide what to do with assets that we “own” when the decision is held by vote in which there ARE bound to be winners and losers? It will never work. It never does. It’s not a negotiation whereby the aim isn’t to win, but for both sides to get something. Voting in a DOA is an all or nothing proposition in which the losers are going to be sore.

We should focus on achieveable and sustainable goals and activities which promote the culture and in turn, apecoin. Not curating and hoarding NFTs in the hope that, one day, we can actually do something with them.

I respect your perspective but I would say that this is an opinion. I don’t agree that this proposal does not promote the culture and in turn apecoin for the initial reasons I outlined right at the beginning. I understand that you do not believe that but certainly some of the comments in this discussion indicate that there are least a number of apecoin holders that seem to think that this is a good idea that goes beyond the idea that this is about “curating and hoarding” NFTs. This was not the intention of an NFT community vault. I of course appreciate that this sample base is subjective in nature.

Without knowing more about which specific proposals that you believe are intrinsically beneficial but were not voted on I would offer my perspective that I have more faith in the apecoin DAO that it can ultimately lead to a beneficial outcome because when you have ownership in something, no matter how small, you will start to care more about some of the related outcome. There are a number of studies that indicate that a sense of ownership increases their care and concern over that “owned” assets/items and is really a key part of why I think giving a sense of ownership in some of these NFTs to the community is a good idea.

Some interesting related materials Psychological Ownership and Feelings of Possession: Three Field Studies Predicting Employee Attitudes and Organizational Citizenship Behavior on JSTOR Psychological Ownership and Feelings of Possession: Three Field Studies Predicting Employee Attitudes and Organizational Citizenship Behavior and https://www.researchgate.net/publication/344479459_Caring_for_the_Commons_Using_Psychological_Ownership_to_Enhance_Stewardship_Behavior_for_Public_Goods