The objective of this proposal is to vote on the mission statement from the litepaper. As a DAO who aims to be a black hole for a variety of NFT assets, having a defining mission statement and vision will provide direction. The mission statement was written by the founder of NFTX Alex Gausman.
Your vote depends on if you believe this mission statement is aligned with what the NFTX DAO should become. If you are against this mission statement and vote no, please provide as much context and criticisms as possible.
Mission & Vision Statement:
NFTX’s mission is to become the primary issuer of NFT index funds, allowing anyone to invest in NFT markets without needing the underlying knowledge and expertise required when investing in individual assets. By doing so, NFTX will function as a black hole for NFT assets.
We will aspire to remain objective about which NFTs we give preferential treatment, focusing above all else on what is best for the long-term appreciation of the NFTX token. That said, we will also place a high value on principles of decentralization and endeavor to work with like-minded organizations.
The only potentially unpopular opinions NFTX will have which community members should be aware of is (A) a bias for ETH and Ethereum, and (B) a bias for PUNK and CryptoPunks. When in doubt, we will store our organization’s wealth in these assets. We will remain rooted on Ethereum unless met with no other option.
We invite anyone and everyone to join us in our mission. Over time, that mission will inevitably change but it’s important that we begin our journey on the same footing and with the same principles in mind, so that we may move forward, not only as a community but as an anti-fragile digital warband
We believe that ratifying the mission statement early on will provide an initial organizational structure. This will provide a clear vision for the DAO and allow its contributors to break things down into smaller objectives without worrying that the original vision is being compromised.
A lack of compromise towards our beliefs will show others that we are consistent and have a recognizable brand. If this works out it will improve the brand value and its attractiveness to future users and builders.
(A) Why be biased towards ETH?
As things currently stand, most DeFi projects are built on Ethereum. NFTX is built on Ethereum. Having a bias towards one’s own infrastructure seems logical unless there is inherent risk. The underlying risk of being built on Ethereum and relying on it is the same as having a bias.
Over time the DAO may look towards supporting chain-agnostic NFTs. For the time being, as most builders are currently using Ethereum, being part of that ecosystem is the best thing for NFTX as an organization.
(B) Why be biased towards CryptoPunks?
CryptoPunks are the inspiration behind the ERC-721 standard. They have a fixed supply, predetermined attributes, and a very accessible market history provided by Larvalabs.
Additionally, the CryptoPunks ecosystem is filled with known and well-respected contributors in the NFT space. CryptoPunks have a strong foundation and hold somewhat of a first movers advantage. This is proven by the existing makeup of the participants in the NFTX raise. The DAO has already witnessed a positive relationship between NFTX and the CryptoPunks community.
The DAO, as it evolves and matures, can naturally change bias. But as the founder and early community have shown, CryptoPunks are an NFT “blue chip”. Having a bias towards CryptoPunks follows the same thesis behind the ETH bias.
Why is NFTX a DAO?
We believe a DAO structure with a governance token will enable a community of users and contributors to build and grow efficiently. Having a wide array of contributors will allow us to create value in multiple directions simultaneously. Being a DAO allows for a system where contributors who add value to the ecosystem can be compensated based on what they have provided. Over time this creates a community built off of aligned incentives. This is primordial for NFTX to achieve its objectives efficiently and become a black hole for NFT assets.
Ratifies current mission statement, confirms early direction of the DAO.
Vote Yes: Agree with the current mission statement and the future vision of NFTX
Vote No: Reject the current mission statement and future vision of NFTX