Gweimlins NFT Executive Summary
This medium article sets out in brief the key details and focus for the Gweimlins NFT project. This is the executive summary and is the short form version of the longer document available below:
The TLDR
Gweimlins (https://gweimlins.com) will be an Ethereum Layer 2 launched NFT project with the intention of seeding the 1st DAO led VC in the Metaverse.
Mission Statement
To democratize the upside opportunity of the metaverse by using consensus to support those who will make it happen.
Abstract
There is scope to create the first NFT DAO VC in the Metaverse, and it’s driven by a vision of democratizing opportunity. That means leveling the playing field for access to upside from early stage Metaverse investment and making it easier to obtain the incubation capital to be a part of its future.
By using a DAO governance structure paired with an NFT launch, an NFT will be able to create the seed funding for a DAO led VC which will open up access to capital to those innovators outside of the established networks.
A project to fund projects, that benefit us all and lift the diamonds FROM the rough, led by people for the people.
That’s it, that’s the mission.
Read the full NFT Whitepaper or visit the website: https://gweimlins.com to get the basics.
Founder Fundamentals
The remainder of the team will be doxxed PRIOR to any mint. We are putting them together once we have certainty there is demand for our vision to be supported.
We will not expect you to support pure anonymity.
Tokenomist | Twitter: Realtokenomist | Youtube: The Tokenomist
I am passionate about cryptocurrencies and I come at this with a fervent belief in the liberation from financial institutional control. We should own the money network.
What authority can I speak of regarding traditional financial markets (Trad-Fi)? In a nutshell less than some, more than most.
I worked in equities during my 20s. From investment advice to market making and corporate finance. This means I have analysed and recommended stocks and shares to a range of investor profiles, as well as helping smaller companies raise capital to enter public markets. I have been around investment class assets for many years.
In doing that, I have seen the social damage it does on a daily basis, not to mention it’s own rule setting that overlooks the privilege it has with being licensed to run a monopoly on our money. Ever been told the bank can’t tell you why you are losing your account, leaving you with nothing but questions and no second chances?
Why do banks get licenses and yet have the capacity to end businesses, jobs, and dreams without recourse — simply because you no longer fit their perfect profile. In a world of electronic payments, there is no alternative. There is access or there is exclusion.
Read my full backstory on the core NFT Whitepaper…it’s worth it.
Want To Support Diamonds In The Rough?
I want to help the World’s diamonds in the rough.
There are winners out there, who are yet to be discovered. Some of the greatest entrepreneurs come from the most humbling backgrounds, many of you in the NFT space, follow a famous example in Gary Vaynerchuk.
I want to create a vehicle that can provide access to the capital to breed innovative and change-making ideas within our niche, for those that don’t have the right connections, degree, accent, name or CV.
The 1st NFT DAO VC focused on seeding EVM compatible projects.
We are going to fund the future of the Metaverse and we are going to have fun doing it.
Sample Investment/VC-Style Ideas For DAO
The following passage is separate from treasury wallet investment to maintain DAOs assets against inflation. It speaks to the type of projects we may look to help seed/incubate/fund.
Some ideas behind the types of VC-Style investments that could be made by a DAO, include Dapps/software to drive engagement or adoption of a sidechain, or a new Layer 2 solution.
It could be the funds to flesh out a new Metaverse gaming concept in return for an airdrop of tokens to all NFT holders.
It could be a wallet application or something even as simple as my own concept I am working on such as Clockbox, a time lock wallet app to give everyone diamond hands. Don’t worry, I won’t force it on you. It’s more to illustrate the types of ideas out there.
Much of the resource required for many Dapps and NFT projects right now are in human capital. If we find a suitably skilled team to back, they may not need much financial firepower to get the ball rolling and that breeds vast potential upside for the DAO.
Highlighted Opportunities For Holders 2021/22
- We will be making funds available for internal grants to develop our own ecosystem. Want to make a podcast? Maintain a blog — run our Youtube? Wars are won by armies with the deepest pockets and greatest resources — generally speaking. We will invest within the community to ensure awareness and build a vibrant brand.
- We will be creating an incubator level monthly shark tank ultimately to be conducted from a Sandbox Metaverse Clubhouse. This is the goal and we would purchase land from day 1 post Mint, to make this possible. This is a longer term goal but we will provide a short term solution via Discord/Zoom or similar available tools presently available. There will be a capped level and you will need to hold the NFT to pitch. This will be external to normal investment or ecosystem grant projects.
- Liquidity Pool Staking if available for IMX projects will be offered to the community. If sufficient holders vote we will seek to implement something in this regard.
IDO Buyer’s Club
Below is a list of the reward breakdowns for staking Cardano’s Occam Razor Token. Note you get less per token staked if your holding is smaller:
There is a multiplier that rewards larger stakers. Smaller (the majority) of those investing in the cryptocurrency space will have a lower reward per pound/dollar staked in real terms and have lower exposure to multiple projects. This incurs selection risk and reduces comparative return.
I believe a ‘buyer’s club’ approach will enable an NFT DAO VC to access launchpad IDOs like this in a way that enables all to access the maximum multiplier and full suite of offers. An economy of scale effect.
There will be projects that fall outside of the DAO VC’s investment thesis and we will look to build a members club that we are a leader in implementation to foster this as a ecosystem project within our community. Access is available only to holders of one of our NFTs. A clear long-term utility for investors.
Governance Token
In the act of creating a DAO, a token would be required to participate in governance decisions. Rewards from net profits will be paid for that governance. Those governance rewards will be more giveaway style in our early existence as the project will be yet to make tangible profits. Instead it may relate to raffle tickets to be automatically entered into draws for free tokens of other projects or prize draws, vouchers etc. This would be a transition solution due to obvious factors.
Why Now?
Raising capital now and not fully deploying, or drip feed deploying it, can see us be in a strong position to see outsized returns. This could be a great time to mint but not a great time to invest as a DAO. That being said, the time could be very soon upon us.
Funding/Accounting
Transparency matters. We will be maintaining management accounts and these will be listed on a publicly accessible Dropbox/Google Drive link with, where reasonable, image links to receipts. A bookkeeper will help us work on keeping spending transparent, but help us work toward sensible spending. It is our goal that each year the DAO VC has a budget which can be approved or denied and amended by token holders. To this end we will be recruiting a bookkeeper or accounts manager for the project.
Treasury Funding will be from the initial mint and 100% of royalties. Staff costs will of course need to be met, but the founding team will be rewarded on returns and NOT royalties. This means, we will be remunerated for results. Obviously evidenced out of pocket expenses will be fairly covered.
We have dived into this in more detail in the NFT Whitepaper. We envision that at a mint price of between 0.035 and 0.05 on a run of 10,000 NFTs, approx 80% of the mint revenue will be available for seeding a DAO VC. The remainder will be covering the dev costs and infrastructure build out.
Failure To Fundraise
If the project fails to achieve 50% or over, of mint sale within 7–10 days of public sale, we will ask the community what they wish to do.
- Return remaining funds back to all holders
- Continue as is
Next Steps
Don’t you want to be part of the Metaverse’s 1st DAO led VC style NFT?
If you are interested in what I believe can be built please drop your email on the website at Gweimlins.com and we will announce the next steps as we determine interest. Or find our soon to be populated Twitter and turn the notifications on.
We will be working to put together roadmaps, FAQs, completing the website and traditional expected resources found in a Discord before we release the links to these. Lets get this right before we start minting NFTs and getting tied up in knots.
