Moonbirds, a well-known Ethereum NFT project, will implement community governance through a DAO, or decentralized autonomous organization, which is expected to debut in early 2023, according to the project’s inventor Proof.
The previously confirmed DAO structure, which is being established to “empower creatives that are building towards furthering the Moonbirds ecosystem, reputation, and lore,” received more information from Proof, which was co-founded by CEO and tech entrepreneur Kevin Rose, according to an official doc explainer.
Owners of current and future Moonbirds Mythics NFTs will be able to join and take part in the Moonbirds DAO in this instance, submitting and voting on proposals to develop the ecosystem surrounding the tokenized owl collectibles.
The DAO is being built to “empower creatives that are building towards advancing the Moonbirds ecosystem, reputation, and lore,” according to Proof’s explainer.
About $2.6 million worth of assets, including $2 million worth of ETH, would be used to launch Rose’s startup’s DAO. In addition, Proof will grant the DAO seven of its own Moonbirds NFTs, or roughly $100,000 worth, and another $500,000 will be used to purchase Moonbirds NFTs on the open market, totaling an estimated 37 NFTs based on the current floor price.
Additionally, Proof will provide the DAO a 35% share of the ongoing creator income from both Moonbirds and its offshoot Oddities collection. Like the DAO-driven Nouns project, the organization will begin with a “cold start” restriction that allows Proof to veto any “rogue proposal.”