Edited and updated per above.
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Edited and updated per above.
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Edited and updated per above.
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Hello @hollywooddao -
This project looks very interesting. One of my original use cases regarding the crowdfunding / royalty payment mechanisms on-chain revolved around how it could disrupt the entertainment industry. Very exciting to see this starting to come to fruition.
That said - I am a little unsure as to why you are structuring this as a DAO and requesting a grant under the DAO guidelines.
Fundamentally - who do you see being the governing community of this DAO? How will this DAO actually operate? What are the community members actually voting on? Are they reading scripts and giving a greenlight to them? Are they selecting directors? Talent? Distribution models?
Additionally, the grant request is at $750K with an expected $125K monthly burn rate. That is roughly 3x the burn rate we have been seeing in other DAOs. Granted, this DAO is developing a product and there is some upfront investment that needs to be made… but that is actually my point. I think this may fit better into an “Investment” request, rather than a DAO grant.
In any case - I really like this concept and I don’t want to discourage you from moving forward, but could you address my concerns about the DAO formation and why you chose a DAO rather than an investment?
Thanks!
Sam
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Thanks for response! So happy to dive in, Sam.
- The governing community of the DAO initially are the governors, but as we build out our community and release governance tokens, the goal of the DAO is to have a community that votes on certain films and TV projects we fund.
- The DAO will operate similar to Harmony foundation: general public can submit film & TV projects to the community for financing, and the treasury is used to partially finance qualified and vetted projects — similar to the Harmony foundation ecosystem where folks can submit proposals for funding.
- The community votes up/down to back a film, tv, animation, or game project. The community will also be able to elect governors every 3 months, per Harmony DAO procedures.
- The community has the opportunity to read available project materials: might be a demo, sizzle reel, trailer, script, or project information and “package” (the actors, director, producer, and otters involved in the project).
- The community, for now, would not select directors, or talent. That is the role of the project creators / collaborators. Of course they can seek input from the community as desired.
- A project that is fully financed has many opportunities for distribution: distributing on next hollywood platform, on publicly available social media avenues, licensing content directly to SVOD buyers (Netflix, Disney+, Roku, et. al), or releasing it through other channels. The goal of Hollywood DAO is to give creators control over their IP — which includes distribution. Fans who backed a project will have terminal access to the content — as long as they remain token holders they retain access in perpetuity, no matter if the IP is sold, or licensed.
- That number is really great and important to understand. While we can’t account for the economics of other DAOs, we have a specific mission for our DAO: to help filmmakers, showrunners, animators, and game creators to have another avenue to seek financing for their amazing projects. One that is decentralized and not controlled by a small number of major companies. That’s our mission, and our estimated costs — 50% go towards building a robust platform. Much of our inspiration comes from Harmony and talks with Li. Ecosystem / Foundation that helps build the blockchain itself. Just like Harmony supports both the ecosystem but also builds the platform itself.
We take so much inspiration from Li, from the harmony team, and when our team was invited to speak at harmony DAY ONE incredible event on 8 December, we shared our vision. We’re modeled very similar to Harmony ecosystem, so that hopefully would be a great model for you to reference as you think about what we’re building:
Fans work directly with their favorite creators to create the next great film, television series, or video game.
First, a platform to allow anyone to sell collectibles to share ownership of their film, tv, and game productions (similar to the harmony blockchain)
Second, A Hollywood DAO that finances projects where token holders can buy a governance token (similar to the harmony grant / ecosystem.)
Thanks so much! Happy to answer any more questions —
The Hollywood DAO Team
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Edited and updated per above.
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Edited and updated per above.
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Some updates:
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We have 9 governors recruited: HollywoodDAO - changing the Hollywood financing game with a platform to fractionalize and crowdfund movies
setup as 5 of 9 multisig. -
we’ve defined 3 mandates: HollywoodDAO - changing the Hollywood financing game with a platform to fractionalize and crowdfund movies.
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established team calendly: Calendly - Next Hollywood.
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discord with roles: HollywoodDAO
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telegram with shieldy: Telegram: Join Group Chat
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twitter handles: https://twitter.com/daoHollywood
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talk harmony forum to situate discussion: HollywoodDAO - changing the Hollywood financing game with a platform to fractionalize and crowdfund movies
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github repo:
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Hey guys! MarsColony is finally on Mainent!
To celebrate it we would like to allocate a NFT piece of MarsColony to Hollywood DAO, could you please provide us a public wallet and let me know if you would like to receive it 
Here is the list for more details
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Hi Nikita,
Congrats for launching on mainnet.
The wallet of the public wallet is following:
0x4b512b23424B16ecC39747B150Ea6eCC7F9D0490
Thanks a lot and keep it up!
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Edited and updated per above.
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Edited and updated per above.
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Edited and updated per above.
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@lij @Sam @frwrdslosh @giv @dcjanio @hollywooddao
per our conversation 1/24, we’ve updated the milestones and metrics to ensure a collective, community-driven approach:
$1m request for Hollywood DAO
$425,000 for milestone 1
$425,000 for milestone 2
$150,000 for milestone 3
$425,000 to achieve milestone 1:
- build up a community of 1k+ combined on twitter and discord $25,000
- marketing, operation, and community development costs $125,000
- finance our first film or TV series $275,000
$425,000 to achieve milestone 2
- build up a community of 2k combined on twitter and discord $25,000
- marketing, operation, and community development costs $50,000
- finance our second film or TV series $350,000
$150,000 to achieve milestone 3
- host a series of events in hollywood, lisbon, miami, and dubai focused on crypto and hollywood intersection.
- a total of 12 events would be hosted in 2022 and 2023 focused on intersection of crypto and hollywood, blockchain and storytelling, and onboarding the first 1b users on harmony
- onboard x filmmakers 100
- onboard x actors 100
- onboard x producters 100
additional contributors to DAO since our last update:
- Stephanie hepner. She’s a Latina producer (ff & digital), screenwriter, actress, project manager, and runs a Latinx writers (stage & screen) non profit
- Mark O’Brien is a serial entrepreneur that has scaled and sold various businesses, both as an executive team member and an investor. His specialization is helping founders with paid customer acquisition and growth hacking (he is the creator of the largest Facebook marketing course online, the modMBA). His main focus now is investing in films, real estate syndicates, cryptocurrency, and startups
- Quinn is on the investment team of Vine Alternative Investments, an entertainment-focused private equity firm. In his role, he has evaluated numerous film, tv, and music IP investments. His responsibilities include deal sourcing as well as investment underwriting and execution. Prior to Vine, he worked in investment banking and BMO Capital Markets, where he covered the consumer and retail sector and advised on mergers and acquisitions and capital raises. Quinn has a bachelors in Finance from Emory’s Goizueta Business School
- houston bradley, united talent agency. Houston is the Coordinator of UTA’s Heartland initiative, launched in Dec 2020, which is dedicated to representing creators in the Heartland space like comedians, podcasts, production companies, authors, musicians and other talent that demonstrate the distinct voices of – and for – this region of America that have been often missed my mainstream Hollywood. The group focuses on the shared values of community, faith, and family but is not limited to any one type of voice or storyteller. Houston’s client roster includes stars from the comedy, podcast, production, publishing, music and film & tv spaces alike such as Kathie Lee Gifford, Sadie Robertson, comedian John Crist , pastor Chad Veach, filmmakers Jon & Andy Erwin, and many more.
- Jeremy Latcham (Executive Producer on AVENGERS, SPIDER-MAN: HOMECOMING, GUARDIANS OF THE GALAXY, and DUNGEONS & DRAGONS) https://twitter.com/jlatcham/status/1475934054331547649?s=12
- Steven is an VP at Raine, helping clients source capital to drive growth with a strategic focus. Before Raine, Steven worked at Viacom. While there, he led international toys & games launch strategies for key MTV and Nickelodeon brands. Steven also has experience at Live Nation and EMI Music, where he started his career placing Capitol & Virgin Record’s music in film & TV.Steven has a B.A. in Political Science from Duke University. He also concurrently earned an M.B.A. from the Wharton School of the University of Pennsylvania and M.P.A. from Harvard University’s John F. Kennedy School of Government.
- Delon DeMetz, actor and senior member of Republic.co crypto team
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Hello @thectaeh and the @hollywooddao –
The proposal - as written - is declined. However - we would be happy to provide $75K as a bootstrapping DAO grant given the 6 requirements that we discussed yesterday (I will state them again below). In the alternative - we can offer a $100K co-investment as part of your next round of fundraising (per our Investment guidelines).
For the bootstrapping DAO grant - please fulfill the following:
- MANDATES: Clear, short and to the point. Can fit in a tweet. Three mandates with two sub-clauses per mandate.
- DELIVERABLES: Deliverables that will be accomplished over the next 3 months that tie directly into your mandates.
- METRICS: Quantifiable, “stretch” goals that show (a) the deliverables being accomplished, (b) drive engagement in your DAO, (c) drive further use and adoption of the Harmony blockchain.
- GOVERNORS: 9 governors, with details about their experience and how they will help the DAO.
- MULTISIG: 5 out of 9 Gnosis Safe multisig to hold the DAO treasury.
- ELECTION: Schedule the next election for the governors. Governor terms are ideally 3 months long.
It is important to note that a few of the items that you proposed in your mandate are clearly products yet to be designed (in this case, movies). As we mentioned earlier, such requests are Investments and not DAOs. I recommend you look at our Investment guidelines (which I have added in below, but you can also find them at harmony.one/apply)
50 Investments ($20M). Tokens of each investment are on-chain and semi-liquid. Harmony helps evaluate technical strengths, market potentials, and ecosystem alignment. We recommend $250K-$1M for each check at maximum $10M valuation, collaborate over events and campaigns, and rebalance portfolio quarterly to diversify.
Here are three examples of successful Investment proposals.
As I have mentioned - I do really like the promise of this project and encourage you to keep moving forward.
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