MODA DAO — Telegram AMA — November 23

GAINS Associates

Published in

GAINS Associates

9 min readDec 26, 2021

On Tuesday, November 23, we had the pleasure to welcome to our Telegram chat:

Joan Westenberg, Advisor
Daniel Tauhore, Head of Growth

We asked him questions about the development of MODA DAO.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Summary

MODA DAO is a decentralized technology network and community. Designed for the metaverse and the play-to-earn era, MODA is dedicated to the adoption of Web3 in the music industry via NFTs, micro-licensing, DAO governance and DeFi.

MODA is being established as a not-for-profit foundation (with a tokenized value structure) for the sole purpose of pushing Web3 music forwards and establishing a more sustainable future for audio creators. Therefore, the token model itself contains a balance of free and open-source tooling for the music world and value-creating functions that will drive its long-term growth

Pillar #1: Music3 Infrastructure and creator tools
MODA will offer tools for the music industry to be fairly and transparently compensated for the value they bring to the world by leveraging Web3 technologies. While these are not aggressive drivers of the Value Model, users will be required to sign the MODA constitution and hold at MODA tokens as a member, as well as staking MODA behind each track that they wish to ‘exploit’ in the Music3 way. Each of the following would need to be voted on by the DAO:
-Membership structure for ensuring authenticity and network effect
-Open on-chain music registration
-International Standard Collaboration Code (ISCC) contract creation

Pillar #2: dPub — A publishing ecosystem for Music3
MODA is building a new backbone for the future of the music industry, by replicating some of the old structures in a new, decentralized, autonomous and highly streamlined way. Some of these functions are also powerful value drivers for the token economy and the future of the DAO:
- A (dPub) publishing DAO structure that plays the role of maximizing the monetization opportunities for the musical composition and songwriting side of each song in MODA Publishing.
-A global, digital, autonomous and decentralized licensing and collections agency designed for Web3, NFTs and virtual performances here, in the metaverse and beyond planet earth.
- Autonomous, DAO-voted grants and decentralized finance options will replace old-school album advances.

Pillar #3: MODA Innovation Lab
The MODA Labs Innovation zone will produce highly innovative and experimental products, designed to test the future of Web3 & music in a live, real-world environment. When successful, these experiments will scale out of the lab and add value to the MODA ecosystem. Teams who join the DAO will be able to apply for technology grants. Some concepts have already been conceptualized by the launch team and are moving into production.
- Pre-release music-hype market
- Music Genesis NFTs
-A user-generated content revenue share engine
-NFT based autonomous micro-licensing

Introduction

Q — Ayeley from GAINS: Please introduce yourselves. What did you do before crypto and did you have any other previous venture in crypto?

A — Daniel from MODA DAO: After working as an independent artist manager for four years and being involved in finance for three, Daniel combines his love for music and natural aptitude for management to bring the heat to MODA. Working primarily in Growth Projects, he’s the big picture guy responsible for spreading awareness and educating people on what MODA DAO will do for the music industry.

Daniel’s worked with 2 of the “Big 4” banks in Australia (Commonwealth Bank and National Australia) which helped him gain experience in various traditional finance roles. Through the music industry, Daniel has had the opportunity to work with big names on a global playing field.

A — Joan from MODA DAO: I’m Joany aka Basedjoan! A Web3 writer, angel investor, and creative director. I founded a Web3 / Metaverse studio called Self. I work with MODA DAO on our mission to rewrite music for creators and fans alike. My writing has been published in The SF Chronicle, Wired, The AFR, The Observer, ABC, Junkee, SBS, Crikey, and over 40+ publications. My regular work can be found on Pizza Party, sharing notes on Web3, the metaverse, and NFTs. I’m building Cryptodunks, Apeshit, etc.

I have been a music producer and recording artist and I definitely identify with the creators in our community

About MODA DAO

Q — Ayeley from GAINS: For people who haven’t heard of the project before, what is MODA DAO about in a few simple sentences?

A — Daniel from MODA DAO: MODA DAO is a decentralized technology network and community. Designed for the metaverse and the play-to-earn era, MODA is dedicated to the adoption of Web3 in the music industry via NFTs, micro-licensing, DAO governance, and DeFi.

A — Joan from MODA DAO: We are a community of passionate music creators and fans who want to rebuild the music industry

Q — Ayeley from GAINS: How long have you been working on it and what was the inspiration behind it?

A — Daniel from MODA DAO: There were obvious gaps in the legacy music industry that the co-founders of MODA wanted to bridge. With Music3 MODA DAO can decentralize publishing, allow musicians to create music using NFT ownership standards, and really put the power of their music back into their hands

A — Joan from MODA DAO: As a former touring musician, I definitely saw a lot of these gaps first hand and finding a way to solve those gaps has been really important to me

Q — Ayeley from GAINS: Can you turn any song for instance into an NFT or does an artist has to sign with you first, before he can have his song as an NFT?

A — Daniel from MODA DAO: “Signing” wouldn’t be the correct term. Artists who participate in the DAO and are active members of the community will have access to a full range of tools that will allow them to mint music NFTs on-chain by MODA ownership standards

A — Joan from MODA DAO: Probably more joining and participating than signing.

Q — Ayeley from GAINS: Do you have some artists already that have joined?

A — Joan from MODA DAO: Absolutely! We have so many artists already excited about being a part of MODA including deadmau5, Richie Hawtin, and more!

A — Daniel from MODA DAO: You can meet everyone at MODA via this link

Q — Twitter user @MaxiVV05: I read that “MODA is dedicated to the adoption of Web3 in the music industry via NFTs”, what is your advice for the new musicians who wanna flow in the music industry? Do you recommend they create their own NFTs early?

A — Joan from MODA DAO: So yeah I reckon to take advantage of how early we can still be with NFTs in music and start to make your mark. Minting NFT music can be a super easy process on a platform like OpenSea etc and if you can begin to do the groundwork and learn and grow in the NFTspace you will have an advantage

Recognize that NFTs are a real option for your work as a form of distribution monetization and engagement and make sure you are putting in the time to actually engage with the community etc

Q — Twitter user @rapadict_: One of the most striking features is MODA’s Decentralized DAO. The DAO of MODA is 100% decentralized? What kinds of decisions can users participate in? What are the requirements to participate in DAO voting?

A — Daniel from MODA DAO: Essentially, users can vote for any proposal they like in the DAO. It’s all up to them! It’s required you have 5 MODA in order to participate and by holding those tokens, your voice can be shared

Token

Q — Ayeley from GAINS: What role does the token play in the MODA DAO ecosystem?

A — Daniel from MODA DAO: First and foremost, $MODA is a governance token. It is a person’s ballot paper to vote amongst the democratic ecosystem and allows for their voice/ideas to be heard. Further, the MODA model will allow holders to stake value behind their favorite artists and empower music creators to engage with their superfans on a much more personal level. Exclusive merch drops, music releases, discord channels, meet and greets and everything else you can think of are all a part of that special relationship you build with your favorite musicians.

As the DAO develops, new functionality will start to emerge such as users being able to stake their tokens behind NFTs, individual songs or albums, fractionalizing ownership, and much more!

Security

Q — Telegram user Lucifer Mi: Hackers are very active in the market and almost every day we hear about another hack attack. Can you please provide some information about the security arrangements for your project? How safe is investor funding? Do you already have an audit?

A — Joan from MODA DAO: Yep! The audit is done.

Funding

Q — Ayeley from GAINS: Did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises?

A — Daniel from MODA DAO: We raised $5 million in private funding, you can actually read about it here.

Competitive Advantage

Q — Telegram user Manny32: Can you list 1–3 best features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

A — Joan from MODA DAO: It’s open for interpretation! Some have defined MODA as Management Of Distributed Audio or Management of Decentralised Audio. We’d love to hear your ideas

Definitely, the NFT aggregator and the fingerprinting are huge feature benefits.

Business Development

Q — Ayeley from GAINS: Concerning your roadmap, what should we expect in the next weeks and months?

A — Daniel from MODA DAO: Have a read of this

2021# Outlier Ventures Basecamp — MODA DAO inception Private fundraising and industry recruitment MODA Foundation incorporation Contract creation and audit Creative grants program initiation TGE Event DAO launch Publishing entity established Music3 Blueprint and Pilot releases Staking and rewards contracts live Voting commences On-chain audio fingerprinting showcase 2022# Audio NFT Launchpad released NFT aggregator/streaming DDEX review ISRC / ISRW on-chain proposal Meta-data proposal Media Storage proposal

A — Joan from MODA DAO: One of the biggest projects on our roadmap is building out the aggregator. That’s what pumped out more than anything! The ability to bring a unified listening experience to every NFT track on every chain is huge.

But also…DROPCASES

These will be NFTs that give holders access to unique collections and releases by MODA DAO artists

Q — Telegram user dAqqY: The word Metaverse is trending now as Facebook changed its name to Meta. Can you share with us your views about Metaverse and how you introduced it to your platform?

A — Daniel from MODA DAO: We think the Metaverse will play a major role within the web3 ecosystem in the coming years. We have land in Sandbox and are building in both Sandbox and Decentraland. Our launch partner Emanate is also building in Cryptovoxels. It’s all happening!

Daniel and Joan, thanks for coming into our community, and taking the time to answer our questions. Anything else you’d like to say? Where can we follow you to stay updated? — Ayeley from GAINS
Make sure you follow us on Twitter! — Daniel from MODA DAO