Enabling NFT for Adserver owners

Hi,
another idea is to introduce NFT tokens for Adserver owners (right to vote for some proposals).

Title: “Proposal for creating Non-Fungible Tokens (NFTs) for Adserver owners and other contributors to manage governance in different places of the Adshares DAO”

Intro: The proposal is to create Non-Fungible Tokens (NFTs) for Adserver owners and other contributors of the Adshares DAO to manage governance in different places of the DAO.

Motivation: NFTs can be used to represent ownership and control over digital assets, and it can be used to manage governance in different places of the Adshares DAO. This will provide a way for Adserver owners and other contributors to vote, propose new ideas and to participate in the development of the Adshares ecosystem in a more decentralized way.

Specification: The NFTs will be built on top of the Ethereum blockchain using smart contracts, to ensure transparency and immutability. They will be designed to be unique, verifiable, and non-interchangeable. The NFTs will be minted for Adserver owners and other contributors based on their contributions to the Adshares ecosystem.

Steps/Milestones:

  1. Research and development of the NFTs.
  2. Design and creation of NFTs
  3. Testing and debugging of the NFTs
  4. Implementation of the NFTs in the Adshares DAO
  5. Promote the NFTs to Adserver owners and other contributors

Timeline:

  • Research and development: 2 months
  • Design and creation of NFTs: 1 month
  • Testing and debugging: 1 month
  • Implementation: 1 month
  • Promotion: 1 month

Total: 6 months

Cost: The total cost of the project will be determined after the research and development phase, but it is estimated to be around $50,000.

Risks: The main risk of this project is the lack of acceptance and adoption by Adserver owners and other contributors, which would result in low participation and return on investment. However, this risk can be minimized through extensive market research and targeting the right audience.

This proposal of using NFT’s throughout voting in the DAO can be a useful tool in my opinion. The higher rank NFT you own can I guess give you more of a say then you would have already had in the DAO
Pros

  1. Higher status in the Adshares ecosystem
  2. Voting can be more loyalty based

Cons

  1. Not a lot of investor will purchase NFT’s resulting in less voting
  2. Lack of interest in owning a NFT

The need to own an NFT to take part in voting is not need but that being said having one where the most loyal of ADS holders have more say in voting would be welcoming

The idea of using Non-Fungible Tokens (NFTs) for Adserver owners and other contributors to manage governance in different places of the Adshares DAO is interesting.

However, simpler solutions may be available that could achieve the same goal with a lower investment and management cost. For example, NFTs minted on Polygon may offer lower cost of gas fees.

Additionally, other solutions such as Proof of Attendance Tokens (POAPs) could also be used. POAPs are a form of NFT that can give token-gated access to certain activities and roles within the DAO, or other benefits. Furthermore, POAPs are minted on the Gnosis network for $0, and it’s really simple to manage them as well. I reckon these alternative solutions might be considered for this initiative.

As for me, I’m on NO, not very convincing. We currently have a DAO and we are developing it right now, so it’s better to focus on what is. The next case of NFT on etherium entails costs, e.g. claim, and in the bull market it will be a lot of fees. I think it’s too early to make such moves.

I agree with the friend who wrote above. I don’t really see the point of introducing NFT to voting either. Better develop the current DAO voting formula.

Anyway, the DAO is at a very preliminary stage, so for now there is no point in changing it, because it is difficult to draw specific conclusions based on one vote. As for the DAO, I would think more about how to increase the awareness of voters, so that voting is not just to “pass” or “win a prize”, but that the vote is conscious and thoughtful.

In my opinion, it is less important whether it will be given by NFT or for the strength of holding coins. Maybe it will be more important later in development. Currently, it is better to focus on more important things, i.e. those that will help in greater adaptation of Web3 or Metaverse. If you manage to do that, the advertising system will fly itself to the moon.

Hey @Homer it’s nice that you proposed a new action to promote the Adshares project in the world of Decentraland. However, taking into account the assumptions you made in your proposal, it seems to me that the implementation of the idea is too high. Your proposal will be implemented by a limited number of members. The cost of $50,000 seems downright huge, especially at this stage of the market.
Maybe a better solution would be to introduce NFT tokens for a wider community? So that more people can take advantage of this idea, while not burning such funds.

Interesting idea, but some questions arise:

  1. Any Adserver holders will get NFT?
  2. Will this NFT need to be purchased?
  3. If you redeem it how? using $ADS? if so, what about these coins, will they be burned?
  4. Who would decide what topics only holders would vote on?

Pros:

  • transparency (known number of NFTs and their owners)
  • non-transferability of NFTs
  • greater decentralization
  • possibility to burn/freeze ADS tokens

Minuses:

  • limited number of holders
  • high cost of introduction (this money can be used to increase interest among the wider community)
  • we already have DAO so we can focus on its development
  • in the case of a small number of holders, the voting results may be skewed
  • a proposal dedicated to a small group

Hey,
The idea is quite interesting and on the one hand you can distinguish Adserver holders so that they have more voting power. However, in my opinion, a simpler and cost-free solution would be to simply assign their ADS wallet address to a special list as verified Adserver holders. Thanks to this, they could influence decisions that solve the problems that they, as Adservers, see. When it comes to NFTs, the questions arise: how many such NFTs would be in total? How would NFT voting look like? Any separate platform for this? There are costs for developers to create such NFTs - additional work for them. Ultimately, I am skeptical of this proposal.