MODA DAO: Unfettering the Music Industry for Web 3.0
What if there was a DAO that allows you to directly connect to value creation in the music industry eliminating middlemen and centralized entities? What if this DAO also allows you to govern the protocol? What if this DAO is set to revolutionize the music industry positioning in the metaverse?
Sounds interesting? Well, welcome to MODA DAO
No matter how ethical the design of the internal processes are, the fact remains that traditional corporations exist to make money for their shareholders. The greater the reach, the greater the value they can milk from both the artists and their fans. Most recording artists don’t earn more than 20% of profit off their record deals, while listeners are often forced down a pathway intended to commandeer their wallets for the middlemen.
Half of the revenue for the global music industry comes from live performances. However, the coronavirus crisis has thrown the music industry into an upheaval, forcing it to explore new ways for sustainability.
Enter the Metaverse
The Metaverse is an internet-based, real-time 3D virtual world accessed by individuals or groups using personal or shared devices. It is a global, personally owned, largely persistent, multi-user domain. The Metaverse sits at a unique intersection of digital reality, social networks, and digital assets.
Imagine an environment where people, data, and ideas can come together in infinite ways. Spaces designed to make user interactions more multidimensional. Platforms with built-in applications that let you interact face-to-face, at a distance, or virtually any which way you choose.
The Metaverse is the next chapter in the evolution of the Internet, a chapter where you can be the architect of your own digital realities. However, with attention now shifting to the Metaverse, it’s imperative that control of this nascent industry is relegated to centralized entities whose interest lines are in their bottomline. Rather, it should be placed in the hands of those striving to add value to it — creators and consumers.
MODA DAO is Web 3.0 for the music industry creating free and open-source tooling for the music world while building a value-creating ecosystem. Token holders are automatically members of the MODA Foundation DAO. However, unlike most DAO tokens that only bestow voting rights to holders, $MODA token also possesses the following utilities:
- Ability to register one’s music for streaming on the platform
- Staking into new songs prior to release to earn trading fees and NFTs from the song
- Token buyback and burn from MODA publishing’s revenue stream
MODA DAO has received backing from some of the music industry’s biggest artists including deadmau5
Partnering for Music 3.0
MODA DAO will be releasing a portion of its token supply on NEAR protocol. NearPad is proud to be a distribution partner for their whitelisted token distribution event which is scheduled as follows:
Proposed Date and Time: Friday 19th at 12 pm UTC
Total Token Supply: 10,000,000 MODA
Seed/Private Sale Price per Token: $4
Issued Supply for IDO: 20,000 MODA
Pool Type: Whitelisted
Whitelisted Pool Ticket Number: 100 at maximum, 400 at minimum
Price Per Token for IDO: $5
Accepted Currency: USDT
Duration for IDO (in hours): 24 hours
Duration for FCFS post-IDO pool if initial IDO pool doesn’t sell out (in hours): 24 hours
Claim Date: 25th November
Given the collaborative nature of this whitelisted event, the cap on the amount being raised and the number of participants, participants will be drawn via lottery from the list of staking addresses that participated in the Pulse IDO. Winning addresses will be published 24 hours before the event.