by RobertoT
ATX DAO’s main fundraising mechanism in the short-term will be through NFT sales. There are a number of benefits associated with this approach:
Focusing on selling quality NFT art sourced from local artists allows us to raise capital to fund operations while efficiently navigating the current legal environment without exposing the organization to unnecessary legal risks. ATX DAO will begin the Wyoming incorporation process in 2022 to be formally recognized as a legal organization by the US government.
As an organization, we can’t promise any financial gain from our NFTs to avoid stepping into securities issuance laws.
Focusing on selling quality NFT art allows the organization to serve as a liaison between the art community and the crypto community in Austin. ATX DAO will become the go-to organization for local artists looking to break into the NFT industry by helping them understand the technology and providing them a platform to advertise/sell their art.
Establishing strong working relationships with local art communities is a top priority in 2022.
Aside from the amazing art, NFT holders will have access to all the social perks associated with ATX DAO. Our primary goal as an organization is to create the most coveted professional network of crypto enthusiasts in the city. Access to the network is entirely based on NFT ownership. The social perks NFT holders will receive include and are no limited to:
While we navigate the legal uncertainties surrounding DAOs, only Genesis members will be able to participate in the DAO’s governance process. Once ATX DAO is an established legal entity, the governance process will expand to include a wider audience.