AIP-304: Create the Digital Art Movement Collection to acquire Yuga Assets (BAYC, MAYC, BAKC, and Punks and other notable NFTs for exhibition and donation to art institutions

Final AIPs Accepted AIPs
68

I do not think this AIP aligns with the mission statement of the DAO. We’d be better suited with a proposal to purchase OtherDeeds and donate them to colleges to help promote SW development, and plant the seeds within the demographic that we hope will adopt and mature this technology. It’d be more cost efficient, with a greater potential net positive impact to ApeCoin.

The way this AIP is written, it is heavily focused on raising the awareness of Apes. Ape awareness will/does not necessarily translate to more value, demand, or usage of ApeCoin. Additionally, these are digital assets, the same objectives could be achieved with a much lower cost to implement by leveraging community assets.

I think the spirit of the idea is interesting and should be explored, but not necessarily through an AIP/the DAO.

4 Likes
69

I don’t understand why the DAO needs to buy BAYC/MAYC/BAKC/Punks in order to do this. This could easily be achieved and would most likely be better if we had community members sign up to have their respective BAYC/MAYC/BAKC/Punks be displayed.

If we have community members use their NFT then it can showcase how people really treasure their NFT and also shows the world that there are real people who own these who treasure them.

5 Likes
70

This AIP would be a terrible misappropriation of funds at best and a scam at worst. How does this help ApeCoin at all? If this was a serious proposal about sending artwork to museums worldwide then the proposal should be to create or use a smart contract to loan out the art to the museum. Not to mention, I can bet OP can’t even list 100 museums that would be interested in any of these items, let alone thousands.

As for “tastemakers” how will these be selected and how would self-dealing be prevented? Regardless of the OP’s personal history, it would be very hard to prevent backdoor deals and others from taking advantage of the liquidity rush. If the DAO ever approves a self-satisfying deal like this, there should be rules on how/when an item can be purchased. To address liquidity issues for example, the DAO could be limited to contributing only 1% of the weekly transaction volume so that the purchases are spread out.

imo this whole proposal seems like a waste and ideas like these are how many other DAOs have met their end.

6 Likes
71

After hearing Machi mention this on a spaces (a few weeks ago) I was on I went and asked a friend who is world leading in contemporary art with a massive private collection. He has 30 years experience in this sector with relationships with all the major global museums. I asked him if he wanted to work on this and what he would charge for it.

His response was that it is incredibly difficult to get donated art to be accepted by a world class museum and even harder to have them be willing to display it. As they are very clear this will help the Art (and Art from that artist, in our case the Yuga collections) to increase in value and be a long term investible asset.

I asked if he was given 1m USD in ApeCoin would he help arrange this. His answer was no. That gives you an idea how hard this would be.

Also you don’t need 1000 NFTs for this. You need less than 100 in total to get into the top museums. The question is not buying them which is very easy, but securing the museums to accept the donations first.

18 Likes
72

100% I wrote a comment sharing some similar thoughts.

2 Likes
73

GM Everyone,

Like this idea.

Don’t like the quantities though. (Even 100 Apes, 200 Mutants, etc… seems like a lot.)

Like that the community would participate in the curation of the NFTs

Look forward to see how this develops and if we go forward with it. More than likely will not go much farther though

2 Likes
74

The idea and concept is cool for the BAYC community, but I think (as many have already mentioned here) - this is unlikely to happen in the way we would hope for it.

I don’t believe there is high demand from museums to curate BAYC art at the moment.

1 Like
75

Hi Fam

While I respect the idea of donating Blue Chip NFTs to Museums, this proposal if implemented will trigger a floor sweep leading to one of the greatest dumps in BAYC history. 10% is a huge number when usually only 2% are listed. It will also give an opportunity to Whales to sell their minted NFTs to the DAO for gifting to a museum, thereby cementing their mark on blockchain history where, when people see the display in the Museum, the name of the previous owner is also displayed. I’m a collector at heart and such a historic connection, to have the Ape I held at one time, now in a museum for eternity (museums usually don’t flip), is a great motivator for me to sell.

That said, I do agree that we should take something from the spirit of Machi’s idea in this proposal. So my recommendation is as follows:

  1. We must buy rare artwork from popular NFT artists or commission them to do 1/1 pieces of digital art (the details of which can be discussed with Museums beforehand, about what format they’re likely to accept) and then these rare digital artworks must only be gifted to Museums that have a Metaverse presence so that the artwork can be displayed both irl in the Museum and also in their Metaverse set up.

  2. The gifting must happen through a kind of ceremony/event as part of one of the major global NFT events and this should be open not only to Museums, but to Art Galleries too. For example, there are quite a few Art Galleries in New York (my assumption) and during NFT NYC, a few select ones are gifted rare NFT art for display.

My intent from this recommendation is that the DAO will promote Art and Artists and increase Metaverse adoption.

Thank you

1 Like
76

Thank you all for your comments and feedback.

I believe that this proposal brings value back to Yuga NFT collectors and thus Apecoin DAO members, as most Apecoin DAO members own BAYC/MAYC/BAKC. While this proposal will make these NFTs more rare, the main purpose is to proliferate these NFTs across major art institutions - museums, schools, etc.

Comments and Revisions on the proposal idea since collecting feedback:

  1. Reducing the amount of funding ask to $15m USD worth of Apecoins. This is a meaningful amount of funds to ensure impact.
  2. Adding a specific allocation of “at least 70% Yuga assets, 30% optionally other notable NFTs” to specify a minimum threshold for Yuga assets.
  3. Structure is to be a fully-decentralized entity controlled by multisig signers in Safe wallet. This allows the holding entity to be independent of Yuga Labs and Apecoin DAO in order to avoid legal concerns.
  4. Curation by Tastemakers - No change. It isn’t possible to satisfy every member of the DAO and making every decision via voting is operationally impossible.
  5. Multisig signers of the Safe wallet will be top AIP voters, determined by number of votes, both FOR and AGAINST.
  6. Any proceeds from this collection will be added to the multisig for expenses related to the operations. This includes IP licensing, exhibition, staking and any other proceeds.
  7. Machi Exclusion - Machi will not have control of any keys nor will Machi be compensated in any way for this proposal.
  8. Clarification on how to acquire/curate the collection:
  • NOT Sweeping floors
  • Tastemakers will make individual offers
  • No specific NFT market commitment

LFG!

5 Likes
77

Hi @Machibigbrother,

Your topic will be moving to the AIP Draft phase in less than 24 hours. Are you content with the feedback received or do you wish to extend community discussion for another 7 days?

If we do not hear from you within 48 hours after your topic closes, your topic will be moved straight to the AIP Draft process.

We look forward to hearing from you.

-Chris

1 Like
78

This topic was automatically closed after 7 days. New replies are no longer allowed.

79

Hi @Machibigbrother,

Thank you for your ideas [and the ApeCoin DAO community for the thoughtful discussions]. A moderator will get in touch with the author to draft the AIP in the appropriate template. Once the AIP is drafted and meets all the DAO-approved guidelines, the proposal will be posted on Snapshot for live official voting at: Snapshot

Follow this Topic as further updates will be posted here in the comments. @Machibigbrother please see your messages for the next steps.

-Chris

2 Likes
81

Hi ApeCoin DAO Community,

@Machibigbrother has completed editing their AIP Idea to be their AIP Draft.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-Chris

1 Like
82

Hi ApeCoin DAO Community,

Our team has reviewed and discussed @Machibigbrother’s AIP Draft and have sent a list of initial questions. We await answers.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-Chris

83

Hi ApeCoin DAO Community,

@Machibigbrother has responded to our questions and has provided consent to share them in this forum for the community.

1. Is the Ape Foundation expected to engage in any of the steps of the AIP implementation? If so, please specify the steps and elaborate on how it is expected to work.

No, other than sending the ApeCoins into the multisig as described.

2. You’ve stated that “To avoid any conflicts of interest, the Digital Art Movement Collection will be restricted from buying any NFTs owned by Machibigbrother and the tastemaker team. Nor will they acquire any NFTs recently (within 1 month) transferred or sold by Machi and the team.” Please clearly identify the members of your team and update the Team Description section of your proposal with the members of the team.

Leaders of the DeFi community, Apes, Tastemakers, builders, advisors, community supporters, and industry partners. Team will receive no compensation from this AIP.

Lumberg.eth - BAYC 4646, Punk 8503
DeFi builder, Yearn multisig signer, Abracadabra multisig signer, PleasrDAO Advisory Council, MetaCartel Ventures founding member.

Jake Lee - BAYC 7297
Operations veteran, currently at 247 Comics, ex-Uber.

Jeremy Yang - BAYC 6447
Smart contract developer with multiple NFT / DeFi projects.

Linstro.ETH - BAYC 7606
Co-founder and Chief Creative Officer of an award-winning global creative and brand management agency that has partnered with the world’s leading brands. Specializing in content production, brand management, licensing, ad endorsement, and social media.

foxslightly.eth - BAYC 2807
Prior to web3, worked for 10+ years as a business/tech analyst and product manager in the Fintech space.
Currently serving on the Board for ThankApe as well as an Advisor for Beyond the Swamp magazine.

Existing art institution connection: Anne Shih, Chair of the Board, Bowers Museum in Santa Ana, California.

3. What platform(s) will be utilized with respect to the proposed governance token and subsequent staking process?

Platforms - Ethereum mainnet, Gnosis Safe, Snapshot.
Staking will be done using existing, battle-tested DeFi contracts, most likely one of the three below:

1. a) Synthetix StakingRewards.sol contract: https://github.com/Synthetixio/synthetix/blob/develop/contracts/StakingRewards.sol
2. b) Curve finance veCRV contract https://github.com/curvefi/curve-docs/blob/main/docs/dao-vecrv.rst
3. c) Velodrome Finance veNFT contract https://github.com/velodrome-finance/contracts/blob/main/contracts/VotingEscrow.sol

4. Will token holders need to connect their wallets to your platform, and if so what are the plans for security audits?

Yes, token holders will need to connect their wallets to the staking contract. These contracts are battle-tested across many protocols in DeFi. Security audit(s) will be done for the platform is part of the plan.

5. Is the allocation of grant funds intended for liquidity in the $DAM token pool?

No, grant funds are not intended for use to provide liquidity in the $DAM token.

6. Do you provide consent to share these questions and answers with the community in this forum?

Yes.

A DAR package is being worked on and upon completion this AIP will move into Administrative Review. Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

5 Likes
84

Hi ApeCoin DAO Community,

We have no further questions for @Machibigbrother. This AIP is now under Administrative Review.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

4 Likes
85

Hi ApeCoin DAO Community,

Edits have been made to this Topic, by the author or by the author’s request.

You can click the Pencil icon at the top of the post to see these edits.

This proposal remains in Administrative Review. Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

4 Likes
86

Hi ApeCoin DAO Community,

After review, this Topic submitted by @Machibigbrother has been “Returned for Clarification”. The ApeCoin Special Council waits for answers, and the community will be notified whenever the author responds.

Kind Regards,

@Facilitators

2 Likes
87

Hi ApeCoin DAO Community,

@Machibigbrother has responded to the Clarification questions and they remain in Administrative Review.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,
-@Facilitators

1 Like