First, a quick update: As we move into the second quarter of this journey, the gm. DAO currently sits at 294 members. 14 tokens have been burned and a number of allocated tokens are yet to be claimed on Opensea (should we reach the end of the 100 day period with these remaining unclaimed, they will also be destroyed). We have plans on what the consequence of these burns might be in the future, but more on that later.
Some minor quality of life changes were made to the allocation process in order to ensure a fair & equal chance for everyone to participate. Namely, the additional of a challenge to the daily “gm.” tweet. This was primarily to avoid any botting activity, but has also added an element of fun to the experience (we hope).
The discord continues to be a source of pride for me personally, where I have met some of the most genuine & kind people in the crypto community. We have a good blend of people ranging from collectors, coders & artists, all of which have all shown a willingness to help & contribute to the DAO in some format.
So what’s next? As we continue through the distribution phase, we have been working hard to prepare for the next phase of the experiment. In the next few minutes, I’ll share some details on what we have planned.
The primary focus remains transitioning from the Rarible smart contract to our own. Not only will this ensure that we are not beholden to a third party, but it will also allow us to dictate the royalties generated from any future secondary sales. This may prove extremely important as it would allow a passive stream of income to flow into the DAO treasury.
With that said, we didn’t simply want to replace our existing token (albeit much loved) with an identical one. Therefore, we have been in talks with a very talented generative artist by the name of Rich Poole in order to create unique 1/1 generative artwork for each & every gm. token on the new contract. We are 95% of the way there & putting the finishing touches on the tokens as we speak.
The next step will be the contract itself. As I am not a coder myself, I am procuring this service. This will likely be done within the next 3–4 weeks depending on how soon we can finalize the scope of work & budget with the developers.
The contract will allow existing token holders to burn their legacy gm. token and receive a brand new 1/1 NFT. This token will function in an identical way to the existing token (i.e grant entry into the DAO).
But where will all this happen you ask? Good question…
The final step in the migration process will be the front-end. The website is near completion & fully functional (minus the smart contract integration), so once the development on the back end is complete, we’ll flip the switch.
Initially the website will serve as a platform for existing gm.embers to migrate their token in a seamless manner, but ultimately the goal is to use it a centralized hub for the DAO. Whether that be for drops, voting or general inquires.
As we flesh out the DAO in the coming weeks & months, we will be looking for volunteers to aid with maintaining and optimising the website, but for now we hope that you are as excited as we are for launch.
Finally, we have also been working to secure our first artist to work with for our inaugural drop. This will be available to both DAO members (free) & the general public (fee), and will serve as the primary mechanism to build the club treasury. Details are yet to be finalized, but the drop will likely feature a limited public release (no more than 1000 pieces) & all profits will go directly into the DAO.
While we are very privileged to already have a number of artists already within the club who we will be prioritising for these types of opportunities, we welcome any possible collaboration with new artists for future drops.
One more thing
If you’ve made it this far, I’d like to take this opportunity to give a heartfelt thank you to everyone who has made this journey so far such an incredible experience. I would have never imagined such a warm & enthusiastic response.
We are just getting started.