Metopia x Castle Kid NFT Twitter Space Recap
Metopia co-hosted a Twitter Space with Castle Kid (12h August at 8PM UTC) and in case you missed it, we’ve written a summary of our favorite parts from the Space. We shared views on their respected projects and discussed numerous topics including DAOs, NFTs and how the state of the market is affecting their projects.
We’ve also uploaded it to the Web3 Futurists podcast. Our recording with Castle Kid will be exclusively available on all streaming platforms.
We’ve also written a research piece on the Castle Kid project, so if you need an introduction for the project and haven’t already read it, be sure to check it out here.
Below is an excerpt of our favorite moments from the Space regarding DAO governance and what Metopia can do to unleash the power of NFT communities.
Please note that some of the below is not the full conversation and some parts have been edited for a clearer read.
Castle Kid: As long as one of the benefits of being a whale is originally the votes per token, how would you convince whales to change it to Metopia’s system?
Metopia: Honestly, I guess it’ll be quite difficult to convince the whales, we feel like in fact it should be the decision of the whole DAO, including the 99% of non-whales.
What we pride ourselves at Metopia is is that we just look at the data we’re saying…okay this is the way that things are going, and here is the path forward for daos, and here is a dao tool to improve the structure, we want to give you guys at Castle Kid the freedom and the ability to really be transparent and create a restructuring of the DAO in a way, like we’re still super early on at the moment but I feel like, with whales, there’s obviously a lot of decisions they can influence, whether it’s a good or bad thing, it’s up to the individual.
It’s like posing the question to a huge corporation or multinational that’s lobbying policies in Washington DC or trying to ask the NRA why can’t they regulate gun control. I guess it speaks to the fact that the system is broken and needs improvement, like yes you should go after the NRA, but you should also go after the infrastructure for letting it happen right?
Everyone has their own agenda, and everyone has the right to their own agenda, If you’re a whale and you spend a lot of money on a lot of tokens/NFTs you should have a say! You’ve injected a lot of money into the community therefore you should have a larger say/larger voting weight.
Same goes for NFT traits, if you hold 1 out of a 10,000 collection, I would think I would be more inclined to influence the decision of the community. The question is where do you draw that line?
We’re not gonna draw that line for you, it’s up to you and the community to really draw that line themselves, with the metadata that’ll be available once you onboard onto Metopia, you’ll be able to see the rarity attributes, holding time, governance records, trading history, other NFT holdings and cross-NFT data, POAPS and OATs credentials.
What we’re saying is that it shouldn’t solely be how many tokens/NFTs that you hold that influence your voting weight, you should integrate a platform that has the ability to read heaps of different factors right?
We want to be at that stage where we can be the go-to platform for DAO governance. With the integration of Snapshot, RSS3, Tally, Mask and discord, teams CAN have the ability to use that platform.
If Castle Kid want to stick to the same, one-token one vote system, you can still do that with Metopia. But you’re gonna be able to make customizations along the way if need be, like if you decided that everyone that holds a Soul Bound token should have an extra 5% voting weight in perpetuity, you can.
I understand both sides, everybody’s voice should matter in a project, everybody should have an equal say. In the aspect of NFTs when you’re so invested into a project, you want to make sure that the project is gonna take a turn for the worst. With people coming in with one or two- it can happen, they don’t necessarily have to be onboard with what the project is about. But I do like that Metopia is taking into account engagement of members. So if you’re holding that NFT since mint, 8 months down the line, you obviously value the project, you’re not here to buy in and flip it to take a profit or tank the floor, these are all the things that are considered as well in the market.
Yeah- about holding periods and holding time, I completely agree that the holding period should be one of many factors when it comes to governance proposals, for OG members- should they get credentials/SBTs to show that you’re an OG member? We can definitely integrate that into Metopia. Whales can sway the market like you said, for example, with you joining our Space today- that shows that you’re a super engaged member, and you should be rewarded for it.
We wanted to know the future plans and improvements for Metopia and the platform.
We’re trying to integrate more data into the backend, platforms such as Snapshot are pretty one-dimensional, we’re aggregating as much data as we can. A super simple example is Discord, having the ability to integrate roles which influence governance decisions. We’re having meetings next week to expand it even further. We’re still super early in our stages but if we can integrate you folks in with our community that’d be amazing.
Discord was the hub for web3, now it’s Twitter- where spaces are held. Can you use data from Twitter to help the project?
We currently don’t have that function but we’re looking to do that too. There’s a couple projects that are trying to explore this idea. The beauty about what we do is where we are looking to capture all on-chain and off-chain data. It’s pretty tedious right now with grabbing data from Twitter, we have some meetings next week so we’re gonna be discussing this exact topic!