Arts DAO is a community of Artists and NFT collectors based out of the United Arab Emirates that have created an innovative decentralized autonomous organization for like-minded individuals. Arts DAO is on a mission to build an accelerator that will bridge traditional creatives into the metaverse and the Web 3.0 world.
Web3 represents the third edition of the internet. Non-fungible tokens (NFTs) have now taken the world by storm with projects like the Bored Ape Yacht Club reaching astronomical valuation and brands like Nike entering the space. The number of NFT holders continues to grow exponentially, with approximately 2 million people worldwide holding NFTs (as of April 2022), up from c. 400,000 in March 2021.
Decentralized autonomous organizations (DAOs) are one of the hottest topics in Web3 currently. DAOs can be compared to WhatsApp groups with a shared bank account attached. They have built-in treasuries and decisions are governed by voting to ensure members have a voice. Like companies, DAOs seek similar ends, which is the creation of value but rely on a decentralized framework in which workers, users, and other stakeholders have ownership of the entity.
Arts DAO has emerged as the largest Web3 community in the Middle East (with more than 2000 members), hosting exclusive events (and yacht parties) with major NFT projects like RTFKT Studios and the Doodles Community. Arts DAO is a revolutionary project which is building the next generation of Christie’s by combining community, Web3, asset management, and venture capital. This Web3 community has done this by building a community of NFT collectors with aggregate holdings exceeding $100 million.
The DAO will be led by a committee of NFT experts (initially appointed but later voted in through elections by members) which will curate and invest in a diversified portfolio of NFTs (to achieve appreciation in value) on behalf of DAO members while also offering grants to Web3 founders who show great potential. When NFTs are bought and then sold, members are also able to claim returns quarterly.
The Arts DAO Ethernal Gates NFT collection will be launched in collaboration with Kristel Bechara, one of its founding members and an award-winning multimedia artist. She’s the first NFT artist in the Middle East and had her drops widely collected on Foundation when she began dropping her work in early 2021.
Kristel has gained recognition as being a pioneer of NFT art in the Middle East, having worked with the likes of Glenfiddich and being featured in Forbes, WIRED, Esquire, and other publications. One of her signature 1/1 NFT pieces titled “Satoshi Nakamoto” was sold last year on Foundation for 1.10 ETH ($2,812). Today, the piece is valued at 35 ETH ($89,515).
The “Ethernal Gates” is a set of generative art pieces, which means the final artwork is generated only after the NFT is minted. The name “Ethernal” is a play-on-words between ‘Ethereum’ and ‘eternal’ and is also defined as a group of like-minded individuals engaged in a valuable connection.
The process of selecting NFTs to buy can be time-consuming, and nerve-wracking. More than 80% of NFT buyers lose money doing so. One of the main issues is that the best NFT projects that hold long-term value are often too expensive for non-investors to buy. Arts DAO pools resources from a community so that high-quality NFTs can be collected by the whole.
By purchasing an Ethernal Gates non-fungible token, holders are welcomed into the Arts DAO community, which offers a myriad of unique benefits to all of its members.
All holders co-own the DAO, which will hold blue-chip NFTs (such as the Crypto Punks or the Bored Ape Yacht Club) and early-stage NFT projects in its portfolio. Arts DAO aims to collect wider NFTs across four areas of focus: Art, Collectibles, Gaming, and Metaverse.
All holders get access to community events that bring together a network of senior futurists, CEOs, founders, investors, and artists. These events currently are held at premium locations in the Middle East. At these events, members get free food and beverages but more importantly get a chance to meet other members of the community in real-life, similar to a private members club.
Previously, Arts DAO members have been invited to meet with the likes of Gary Vee, yacht parties with CloneX/RTFKT holders, and the Doodles Community as well as other NFT focussed events.
Arts DAO is building a startup accelerator to support NFT projects or artists that are “diamonds in the rough”. These opportunities are difficult to come by but generate serious appreciation in value, as members can get exposure to projects at a very low-cost entry point.
Due to the exclusive network and community and growing social media presence (431,021 followers across all platforms), Arts DAO has been able to collaborate with several senior NFT projects (such as Dolce & Gabbana) and receive a limited supply of designated whitelist spots. Getting whitelisted is a pain for most people because it requires a lot of effort and engagement with projects. By holding the Ethernal Gates NFT, token holders become eligible to receive whitelist spots in new upcoming projects which guarantee them a cheaper mint price than one offered to the public.
Every month, holders of the NFT will be entitled to participate in a raffle where one person will have their NFT physically printed in acrylic and shipped to the member. This is where the digital realm crosses over into the physical.
More information about ArtsDAO is available on the project’s official website.
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Address: United Arab Emirates
Release ID: 89073704
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