The Holders DAO
The following article will summarize The Holders DAO, a collective of Fantom Force NFT holders who will have complete governance over the revenue generated from royalties of the sale of Fantom Force NFTs on the secondary market.
Purchasing NFTs, Secondary Marketplaces and Verifying Ownership
For starters, it is important to understand how NFTs are purchased, as well as how ownership is verified. When an investor mints an NFT, they will connect their cryptocurrency wallet to the NFT creators website, choose how many NFTs they’d like to mint, and click ‘mint.’ Once the transaction is initiated, the buyer ‘s wallet will exchange the specified amount of tokens (the list price) for the NFT, which will move from the NFT creator’s wallet to the buyer’s wallet. The NFT they mint, along with other NFTs they own, will be displayed in a portfolio on secondary marketplaces that serve the blockchain in which the NFT lives on. In the case of Fantom Force, NFTs will be minted through a Fantom contract. Fantom Force will be listing its collection on two NFT marketplaces: PaintSwap and NFTKEY.
If an NFT holder connects their cryptocurrency wallet to PaintSwap or NFTKEY, they will gain access to their profile where they will unlock features like customizing a username and adding a profile photo on the platforms. Furthermore, under their profile, by default, the platform will display the NFTs they hold in their wallet. Once the NFT holder has connected their cryptocurrency wallet to the marketplace, the marketplace can verify the users’ ownership. This would not be possible if users signed up for a profile using an email/phone number and password.
Royalties
Beyond secondary marketplaces serving as a display for a holder’s collection, it is a place to buy, sell and swap NFTs amongst other collectors. When collectors buy or sell NFTs in the secondary marketplace, collection owners collect a commission of the sales price each time it is transacted.
The Holders DAO Functionality
The holders DAO membership will require wallet verification of Fantom Force NFT ownership or proof of past or current U.S Military involvement. Those who qualify can join the DAO via a proof of ownership verification in our Discord Community or based on your wallet address.
The DAO will have full democratic governance over 100% of the royalties generated from the sale of Fantom Force NFTs on the secondary marketplaces, PaintSwap and NFTKEY. The DAO members will vote on future developments to the project roadmap, along with fund distributions to charities on the first calendar day of each month. This cycle will create a flywheel of value for our community. A stronger community will lead to higher demand for Fantom Force NFTs which in turn lead to a higher pool of royalties to support veteran causes with. NFTs symbolize identity and status in the rapidly growing digital universe. Many people identify with charitable causes but don’t often have vehicles to provide charity readily available to them. Now, just from your computer screen, you can join the ranks of a community whose mission is to have important conversations and financially support life-saving causes. Buying a Fantom Force NFT grants you more than an incredible piece of art, but also membership into a like-minded and focused community. Members of the military community verified by our DAO will automatically have one monthly vote. Fantom Force NFT holders will have 1 vote per NFT they own. For example, if a holder owns three Fantom Force NFTs, they will be entitled to three votes. Votes will be cast through a decentralized system that will require holders to sign an action inside of their cryptocurrency wallet, verifying that they do in fact own one or more Fantom Force NFTs. This community will be created by a small project team, but the community’s endeavors and growth will be solely determined by those who invest in this mission.
