The Definitive Guide to TruDAO and the Community NFT Vault

What is TruDAO?

TruDAO gains its namesake from the award-winning 3D artist behind the SKuLZ project, Tru.

The DAO was started with the mission of creating a vibrant and thriving community; for artists, by artists. By doing so, creatives will benefit from plugging into a trusted and experienced team of conscious collectors.

What problem does TruDAO solve?

TruDAO aims to serve as a place for those supporting artists to be able to participate and invest in the development of a conscious collective of creatives and benefit from their success, while also serving as a place for artists to plug into a support infrastructure to assist in any way they need to develop their art practice.

What is the relationship between TruDAO and SKuLZ, and how do I gain voting rights?

Initially, the SKuLZ collection will be the only project launched by the DAO, and by that, SKuLZ holders will hold all voting rights in the DAO. The SKuLZ holders may add additional voting tokens as the DAO drops other tokens in its collection. The “DAO” — decentralized — part of this will focus first on curating talent and collective ownership of the community NFT vault. Any votes held before the SKuLZ NFT drop will use some or all of the various SKuLZ Coins Collections as voting rights.

What are the benefits of being part of TruDAO?

Members of TruDAO gain a community to engage in when it is best for them. When engaged, the DAO will serve as a place for community to be made around the creation of art; this artistic talent may be expressed in many mediums. Residency projects must always have an NFT component that benefits the community NFT vault or the SKuLZ NFT holders.

Simply put, with the COVID-19 pandemic and the acceleration of technological advancements, the nature of work is changing. Gone are the limitations of contracts and corporatocracy. Freelanced, gig-based, open to work — this is the new normal and what works best for many of us.

Come and witness an experiment in this new economy. We will explore IRL utility within the DAOs first collection, SKuLZ, and innovate with residencies — celebrating the talent of any medium.

To summarize, you’ll be able to use your NFT to engage in an arts community that focuses on discovering new artistic talent. This includes rights like being able to use “#TRUgrants” on work posted to Twitter you want to be eligible for our micro-grants program (depending on secondary market sales fees, these will vary in amount), you will be able to nominate to the TruDAO Artist in Residency Program, and you will gain fractional ownership in a community NFT vault and will participate in the collective ownership of the vault’s IP membership benefits.

The TruDAO Community NFT Vault

The purpose of the TruDAO community vault is to create an easy, hands-off, and efficient way to have ownership in a basket of diversified NFTs. Fractional ownership of the community vault acts as a type of NFT index — an index product that gives crypto users a way to own and gain access to collectible NFTs that may otherwise be out of reach.

The TruDAO NFT index is curated with a conscious effort, transparently supporting artists and investing in their development. TruDAO seeks to reorient NFT buying to focus on Pride in Collectivity and Conscious Collecting.

Collections are managed and monitored by the DAO leaders and community so that you can participate in the NFT frenzy with whatever time commitment is best for you. Look no further if you are looking for a simple, one-stop-shop for exposure to emerging NFT creatives and their collections.

TruDAO is a collaboration between the founders of TruDAO and the TruDAO community. Over the founding period, the founders of TruDAO will play an enhanced role in operations to guarantee, as much as we can, a successful launch. We will maintain decentralization as a priority over the arts nomination process.

In the future:

  • Scope: The index will include one-of-one NFTs and select NFTs from new generative collections created or collected by the DAO.
  • Weighting: The goal will be to collect NFTs that generate IP rights for the use of the DAO and/or yield for the DAO treasury.
  • Re-balancing: The TruDAO community will propose and vote on the timing of community auctions and the pieces to be sold. DAO members will have the first right of refusal when purchasing from the vault, with proceeds from sales going to the vault to curate a new collection and re-balance the vault’s exposure.

The rationale for weighting:

One-of-one NFTs have, broadly speaking, not experienced their day in the sun. We believe curating a collection of true art and placing it on display is a way for us to operate more powerfully as a collective while bringing more interest and value realization to one-of-one NFTs.

Generative collections are the single best way for an artist or project to capture a large audience quickly. This audience is a powerful tool to have as an artist enters into the future with NFTs. For this reason, we believe there is value in both helping artists find their community and collecting rare pieces for the TruDAO vault.

Risks:

  • Market Risk: As with all investments, NFTs are subject to market risk. The monetary value of the TruDAO vault will fluctuate. This means it is possible to lose your initial investment.
  • Regulatory Risk: Crypto Index Tokens are described as structured tokens or strategy tokens. There is no solid legal classification for most of these tokens, and there is no confirmation from the SEC that they are not a security. For example, a regulation deeming TruDAO a security in a country like the United States could result in possible price and/or liquidity impacts.
  • Technical Risk: The TruDAO vault has some risk of wallet exploitation, although our team has taken numerous steps to ensure the vault is secure. The vault is managed by a multisig, meaning a number of users composed of the founders of TruDAO would be needed to make any transaction out of the vault — which gives some protection in case of bad actors.

Who are the key contributors to TruDAO?

Tru herself will remain the defacto leader as the “Artistic Director” while treasury management and web3 development will be handled by M4GE.io as a consultant.

How do I join TruDAO?

The only way to join TruDAO and benefit from the community vault is to purchase a SKuL in the upcoming SKuLZ drop.

SKuLZ website | SKuLZ Discord | SKuLZ Twitter

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