AIP: Framework for Apecoin Records and Ape Tape Vol. 1 [The BAYC/MAYC soundtrack]
Category: Core: Ecosystem Fund Allocation
Abstract : Creation of ‘Apecoin Records’ decentralized record label, and framework to recruit artists to create a BAYC/MAYC soundtrack titled ‘Ape Tape Vol. 1’. The proposed soundtrack will consist of 10 tracks inspired by BAYC, and 10 tracks inspired by MAYC. The Apecoin DAO will vote to approve/recruit 10 musical artists, each providing one track for BAYC and one track for MAYC (ideally relaxed for BAYC, a little more insane for MAYC). Upon completion, the DAO will own all rights to soundtrack, and all revenue from the project will flow into the Apecoin DAO.
Motivation : A new release from an approved artist meeting the below standards would gain mainstream media attention and help onboard people outside the NFT space into the BAYC/MAYC/Apecoin world, specifically people interested in culture, music and the arts. The soundtrack will function as a sort of cultural dog whistle. It will also likely prove to be a commercially popular/successful release. Upsides from this project include: (1) significant mainstream media attention generated from the new music releases, (2) significant number of people onboarded from the artist’s fanbases into BAYC/MAYC/Apecoin culture, (3) revenue from digital streaming services, (4) revenue from physical album sales, (5) top musicians cosign BAYC/MAYC/Apecoin by lending their talent, (6) we get a cool soundtrack that adds to our culture, and we get to vote on what it will sound like.
Rationale : BAYC/MAYC gets a soundtrack, and the ApecoinDAO gets all related revenue and owns the soundtrack IP. Regarding the reason to use BAYC/MAYC over Apecoin for the soundtrack theme, for now I think it makes the most sense to capitalize on the popularity/familiarity of the BAYC and MAYC IP for onboarding and other reasons. If successful, we can do an Apecoin soundtrack as a second release and follow the same framework. Overall soundtrack cost is justified by the related free marketing, media publicity, cultural relevance, and mass onboarding potential by having musical artists of this caliber work on an Apecoin project.
Specifications (standards for musical artists) : artists should meet the following standards: (1) popular, (2) timeless, (3) critically-acclaimed, (4) cross-generational appeal, (5) does not release new music often. even better if we can get bands to reunite or artists to come out of retirement. Artists will create songs inspired by the collection. Ideally nothing really on the nose, and would prefer to give artists a lot of creative control. The goal is to stay away from heavily branded music with song titles like “I feel like a Bored Ape”, and rather focus on genuine songs with loosely-related themes (i.e. a song titled “Crazy Eyes” for BAYC or “Mega” for MAYC; specifically, a song that someone might listen to on its own, only to later discover it is from the BAYC/MAYC soundtrack).
Examples of artists likely to be approved
-Kanye West x Jay-Z (collab track)
-Rage Against the Machine
-Nine Inch Nails
Revenue : The soundtrack will be streamed via digital streaming services with all revenue flowing into the DAO, and physical limited-edition vinyl copies will be made for sale, with all profits flowing into the DAO. Distribution methods are subject to change/revision via DAO vote, and additional distribution methods can be added via majority vote on separate unique AIPs.
Steps to Implement : Individual AIPs will be drafted, and the community will vote to approve 10 artists for recruitment. An artist can only be added to the recruitment list if approved by the DAO. If approved, the DAO will set aside approximately $1mil in Apecoin per artist to record/secure the required song(s) as well as all rights therein. ApecoinDAO members will contact/recruit approved artists using the allocated funds. If specific artists request more funds than the amount allocated, additional funds can be allocated upon majority vote by DAO via separate unique AIP(s).
Overall Cost : Zero. This proposal simply provides a framework for future related proposals, to see if the community approves of the overall concept. All future related proposals with cost basis will be voted on before approval.