MODA DAO AMA Recap

18 Nov 202116:50

AMA

MODA DAO AMA Recap

Sean Gardner

Hello

Myko (CryptoDiffer)

Hello, everyone!😁

We are glad to meet here:

Sean Gardner, Co-Founder of MODA DAO and CEO of Blockchain Music @seangbcm

Dr. Jay Mogis, Media Rights Specialist and Data Scientist @Jay_Mogis

Daniel Tauhore, Head of Growth at MODA DAO and Emanate @ivtonic

Sean Gardner

Hi Guys!

Daniel Tauhore

How’s everyone going

Dr. Jay Mogis

Hey all!

Myko (CryptoDiffer)

Welcome guys! Nice to e-meet you
let's start with some introductory questions
Q1: Can you introduce yourself to our community?

Sean Gardner

I’m an ex-advertising industry, a creative tech entrepreneur who has settled at the intersection of blockchain and music. Since 2017, me and the team behind Emanate have been applying the latest technology to solve the biggest problems in music.
I previously spent 12 years in the digital trenches of Australia’s top creative agencies including TBWA and DDB Sydney; an environment where I learned how to deliver world-first creative technology solutions under intense time and resource pressure.
I delivered Australia’s first iPhone campaigns with Vodafone, various eCommerce pilots, promotional AR in 2010, the first branded VR experiences in 2015, drone-powered UGC campaigns, and audio-activated fashion shoots;
Then I discovered the blockchain.
Crypto quickly brought my passions together; innovation, technology, and music. Four years later, I and the team have a better understanding of the direction of music and Web3 than most people on the planet. Getting into crypto was like a light bulb moment where I quickly knew that my life would change

Daniel Tauhore

I’m Dan, I’m the head of growth at MODA and I’m one of the co-pilots for the launch of MODA DAO. I worked in traditional finance for 3 and a half years before crossing over into blockchain and the defi space. I’ve since been working in blockchain for 18 months at the intersection of music and defi
I also work in the legacy music industry as an independent artist manager and will be leading my artists into the exciting music3 space!

Dr. Jay Mogis

My name is Dr Jay Mogis and I’m a media rights and data specialist. I’ve worked at almost every cross section of the music industry of the last 30 years and specialise in licensing and business affairs. And collecting vintage Japanese guitars.

Myko (CryptoDiffer)

Great! Thanks for the introduction:)
Q2: Can you introduce MODA to us?

Sean Gardner

MODA DAO is a decentralised technology network and community. Designed for the metaverse and the play-to-earn era, MODA is dedicated to the adoption of Web3 in music
MODA is a DAO-first ‘Music3’ project which means that it is designed to be driven by the people involved, by the industry. We are birthing new tools and products into the industry that people are telling us they need rather than building a product and then forming a DAO around it. In this way we are very very focused on inclusiveness and partnerships
We believe that value in the music industry supply chain should flow to those who most deserve it; the creators, their loyal teams, and the passionate superfans who follow them. MODA will bring that belief to life.
MODA will accelerate mainstream adoption of Web3 technology as a means to enable musicians and their audiences, as well as other industry participants, to engage in the music economy directly. To support this, MODA will increase its collaborations with other initiatives, projects, and companies that share a similar worldview.
(end)

Dr. Jay Mogis

I’ll stay with Sean's finer definition of MODA DAO… But MODA DAO is a community defining Music3.

Myko (CryptoDiffer)

noticed
now let's get to your current progress

Sean Gardner

ok cool
MODA started this year in January as we came out of the Outlier Ventures Basecamp program
Drawing on lots of experience from the last 4 years in blockchain/music
We’ve spent this year raising private funds for the DAO establishment, with $5 million USD closed
We have assemlbled a world-class launch team and partners, who collectively manage more than 10 billion streams per month
We have kicked off our first two MODA Labs projects:
1) An audio fingerprinting tool that will go onchain (first ever to do so) developed by Matt Brown (ex dobly digital engineer)
2) An NFT aggregator which we are in the beggining stages of. This will be announced soon in conjunction with filecoin
We have established the MODA Foundation, and Australian based foundation designed to launch the DAO and eventually dissolve, using the same lawyers as Synthetix. Fortuntely the Aussie government is now also taking a close look at DAOs as a legit structure
I’ll let Jay talk about the documentation we are about to to release

Dr. Jay Mogis

I came into MODA DAO halfway through 2021. My biggest milestone with MODA DAO so far is helping bring the lite-paper and white-paper to life. It’s also been an amazing experience so finding a project that so closely aligns with both my doctoral research and my last 20 years of industry practice. Both the lite-paper and white-paper will be out in the coming weeks.

Sean Gardner

I’m hoping this week mate 😂

Daniel Tauhore

We’ve grown to 11.6k followers on Twitter and 9.7k in our Telegram. We’ve collaborated with multiple great projects including the Sandbox and have hosted a Metaversal treasure hunt through Decentraland
The NFT aggregator will be multi-chain and we've been connecting with various partners to make this a reality

Sean Gardner

Oh, also our token is audited, staking contracts are in audit and we are about to launch the DAO portal which will have profile registeration and staking rewards. We designed the rewards program closely inspried by Illuvium ($ILV) which we have been watching closely and also participating in on a personal level

Daniel Tauhore

The token was audited through Certik

Sean Gardner

Thanks Myko over to you

Cryptodiffer Community

Will MODA DAO only have a Market for NFT? or in addition to this, will it have many other DeFi products that can generate both active and passive rewards for artists and fans?

Sean Gardner

We dont plan to build a marketplace because the audiences are already on exsisting ones. We will if we have to. DeFi style rewards will be mostly active, designed to increase engagement between artists and fans

Cryptodiffer Community

Will MODA DAO really be a P2E NFT game that will be composed of a metaverse where NFTs can be traded? If not, why do you say it is designed for "metaverse and the era of play to win"? Could you explain it to us?

Sean Gardner

It wont BE and game, but it will defintely enable the gamification of music in web3

Cryptodiffer Community

Big news coming out of Australia as the government looks to recognise #DAO Decentralised Autonomous Organisations as a company structure. How does this new affect MODA DAO ? Would this improve the chances of success of MODA DAO ?

Sean Gardner

It seems like great news, and we have the best lawyers 🙂

Dr. Jay Mogis

This is both good news, but as with any regulation, a potnetial double edged sword. We will definitely keep watching this news closely.

Cryptodiffer Community

1. How does MODA DAO intend to support the future of music in a Web3 world?

2. What kind of partnership do you have with Quiler Ventures and Rising Agency?
@ivtonic
@Jay_Mogis
@seangbcm

Sean Gardner

Outlier Incubated us, Rising do the market for top electronic artiosts liek deadmau5, chris lake, flux pavilion and many others

Cryptodiffer Community

The Vast Majority of Artists Make No Money, most musicians are in it for the long game, hoping that it will eventually pay off. Unfortunately for those seeking a career releasing original music, it doesn’t pay off financially for most. A study conducted by Citigroup back in 2017 shows that musicians only gained 12% of $43 billion generated in the industry that year. This alarming statistic proves that while the industry is still a profitable enterprise, its protagonists, the musicians who actively produce that richness, are left as the Starving artists. How does MODA DAO aims to come to musicians rescue? How will you buy back power to the hands of the musicians with your solution?

Sean Gardner

The Web3 music world flips the 12% in the other direction

Cryptodiffer Community

Will we have the opportunity to contribute to the future of DAO by participating in governance at MODA DAO? How does DAO management benefit artists and other participants?

Sean Gardner

Yes token holders can contribute in order to benefit the project nd the creators

Cryptodiffer Community

☘️There are issues that prevent artists from connecting directly with their fan bases or marketing them directly to their listeners. How will MODA DAO disable these issues? How are you going to change the frustrating system with an unfair and unbalanced copyright?

Sean Gardner

Artists are taking their right back more and more, even at the deadmau5 level. The new tech enable sthat further, it is becomignless of an issue

Cryptodiffer Community

1. What is MODA DAO intention to bring the legacy music industry into the emerging Web3 entertainment world?

2. How do you intend to help artists to harness Web3 technology such as NFTs, micro-licensing, DAO governance and DeFi to evolve their music business?

@Jay_Mogis
@seangbcm
@ivtonic

Dr. Jay Mogis

Keep an eye out for our whitepaper (over the next few weeks) that will more comprensively answer these questions and more. The litepaper will focus more on the technolgy and governance aspects.

Cryptodiffer Community

💫💫💫💫You said that MODA DAO leverages the smart contract, legal frameworks and expertise used by the Australian DeFi project Synthetix. Why do you benefit from Synthetix's expertise in this regard?

Sean Gardner

Not diretly from them, but from the people who worked with them

Cryptodiffer Community

✅ I'm not a fan of the music world but I was very interested in Tokenised Microlicensing, can you tell us a little bit about it, is it totally real and legal that I can own the rights to use a piece of music, and could I sell that license if the piece of music increases in value in the future?

Daniel Tauhore

Yes, yes and yes! It's totally legal to own the rights to music (song or album) that you purchase as an NFT. You could absolutely sell the music to another buyer in future at a profit or loss, you have that power

Cryptodiffer Community

📍I read that you are preparing MODAVERSE NFT Hunt. What are the advantages of special promotional NFTs for the MODA Music platform? Can private promos be traded and rented on OpenSea?

📍How will artists generate income from any song in Layer1 MODA Network Layer? How will a prize pool be created for artists, how is liquidity provided here?

Sean Gardner

The hunt is finished, and yes the NFTS are tradable

Cryptodiffer Community

Could you tell us a little bit about the three different Layers that compose MODA DAO? detailing a little bit about the characteristics of the MODA Network Layer, the Artist Lyer and the Song Layer?

Sean Gardner

Essentially they are three layers of complexity at which you can engage.

Cryptodiffer Community

Hi! 🎶

Can you give some information about the “MODA Innovation Lab”? What is the use case of it and how will the people have benefits from Moda Innovation Lab? What are the requirements to be able to join in this lab?

@seangbcm @Jay_Mogis

Dr. Jay Mogis

Heya. The Innovation Lab will be made of community proposals and tokenised.

Cryptodiffer Community

will this project have some kind of plan to protect this project from whales, so the smaller investors wont suffer from them

Sean Gardner

We plan to also deploy on Polygon to allow gasless interactions

Cryptodiffer Community

In simple terms, how can an emerging artist take advantage of MODA DAO to boost their career? Can they find the financial and editorial support to keep growing? Or will you only work with already popular artists? I would appreciate if you could explain this to us.

Daniel Tauhore

MODA DAO gives all artists equal playing field to build a career on. Artists can find support through our MODA Artists grants and eventually, directly through the DAO community. In conjunction, one of MODA's prominent launch partners is Emanate, a blockchain music streaming platform. This service will allow artists the opportunity to release music into the web3 music space and beging earning!

Cryptodiffer Community

❇️ MODA DAO is composed of three pillars of operation and three value models. Can you briefly tell us what each of them consist of and how they interrelate with each other to achieve the project's goals of driving Music3?

Dr. Jay Mogis

Keep an eye out for our whitepaper (over the next few weeks) that will more comprensively answer these questions and more. The litepaper will focus more on the technolgy and governance aspects.

Sean Gardner

It’s a typical R&D lab. Developer may apply with a CV or apply for a technical grant in future

Cryptodiffer Community

I read that MODA is set to release over $1 million worth of creative and technical grants over the next two years to individuals and teams who put proposals into the DAO. Can you tell us when application will be open and how to apply?

Sean Gardner

It was linked on this website top right, got taken down briefly because of spammers. it will be back soon

Dr. Jay Mogis

Keep an eye out for our whitepaper (over the next few weeks) that will more comprensively answer these questions and more. The litepaper will focus more on the technolgy and governance aspects. But also yes and yes.

Cryptodiffer Community

Can you tell us more about the NFT Aggregator which you claimed to be one of the most disruptive products you working on? What really makes it so important? How can artists benefit from it?

Sean Gardner

It will make the AudioNFT environment much friendlier for artists and consumers. it is very disjointed right now, more like 2001. The aggregator will bring it into 2021

Cryptodiffer Community

I think there are three issues you are working on right now. Cooperation for competition, fair start-up funding, and everyone's stakeholder. What are the issues you are most concerned about and focused on solving right now to create value for your community? #AMA ?
\

Dr. Jay Mogis

Getting the music indsury and platfroms to collaborate without forcing the market.

Cryptodiffer Community

Music is life and unlike NFTs good music is the key to success of a platform such as MODA DAO. How do you intend to ensure that only good music is promoted on MODA DAO and creativity is encouraged rather than being a platform for unattractive music produced only for financial gains ?

Sean Gardner

Artists will need to stake MODA behind the songs that go up, this will ensure quality, lack of piracy and creativity

Cryptodiffer Community

Can you explain your 3 DAO pillars and how they interact?

- Music3 Infrastructure
and creator tools

- dPub

- Music3 Innovation Lab

Daniel Tauhore

You can read about the three pillars at the modadao.io site! All the info is there. If you'd like a more in depth understanding, feel free to visit our medium where we've released an article detailing the pillars titled “Intro to MODA DAO"

Sean Gardner

Better to read more in the papers coming soon

Cryptodiffer Community

Hi! @seangbcm @Jay_Mogis

I already know some other blockchain projects in the Music sector but they all disappeared after their launch. Can you please tell how will MODA keep the project alive and build trust? What is the long term targets of MODA team?

Dr. Jay Mogis

Keep an eye out for our whitepaper (over the next few weeks) that will more comprensively answer these questions and more. I specifically mention blockchain start up fatigue and our strategy around this.

Cryptodiffer Community

°°° Reading about the features of MODA DAO I found a concept called "Fractional Ownership Framework" that caught my attention. Could you tell us exactly what this fractional ownership framework is based on, what is its function within your platform and what benefit it brings to us as users?

Sean Gardner

This is the thing all artists and fans dream about - ability for the fan to own a tiny bit of the song, like a share

Cryptodiffer Community

Most users believe and are of the opinion that value in the music industry supply chain should flow to the creators who deserve it most; their loyal teams, and the passionate fans who follow them. Does MODA also have this belief? If yes, how does MODA intend to bring this belief to life?

Dr. Jay Mogis

We definitely share this view. Keep an eye out for our whitepaper and litle-paper (over the next few weeks) that will more comprensively answer these questions and more.

Cryptodiffer Community

The weakness of smart contracts is the top concern for every investor. Can the auditing of smart contracts by professional institutions solve this problem 100%? Do you think it is possible to be completely safe?

Sean Gardner

Certik is well regarded, also our contracts where based on Sythetix proxy contracts. There is a lot of testing and experience there but we know nothing is 100% in crypto or in tech more broadly

Cryptodiffer Community

🪙Does Moda DAO support cross-chain interoperability? How do you provide cross-chain support to ensure compatibility with other chain infrastructures?

Sean Gardner

Yes, the NFT aggregator is designed for interoperability between chains
That’s all for me @mykocryptodiffer

Daniel Tauhore

We're currently working on multiple partnerships in order to make cross-chain interoperability a reality. Cross-chain is the future of web3!

Myko (CryptoDiffer)

okie!

Daniel Tauhore

That's all from me. Really enjoyed these questions, what a great community!

Dr. Jay Mogis

Hey all. Just wanted to add that we have saved all of the questions and will try and get back to any we didn't answer here.

Myko (CryptoDiffer)

Thanks a lot for your efforts!
it was a pleasure to host this ama)

Sean Gardner

Thanks so much guys
Please follow us across all channels, Dan and Myko will share the details
feel free to get involved in this too https://grow.modadao.io/

Daniel Tauhore

Make sure you guys hit up our socials! https://t.me/modadao
https://twitter.com/moda_dao?s=21
https://discord.gg/krShrMcw