General Weekly Meeting 26th May 2021

[tttroyyy]

NFT-DAO TOWNHALL MEETING (NOTES)
WEDNESDAY MAY 26 2021 7.30PM UTC

Attendees: Rich, Tyler, Newmindflow, Icaro, Troy, Andy

1. MEETING OUTLINE

• Catalyst Voting Rounds
• Development updates
• Operation agreement discussion
• Other Updates

2. CATALYST VOTING ROUNDS

• Fund 4 voting begins June 3 (approx.). There will be 4 weeks to vote.
• Fund 5 voting will commence week of June 28.

3. DEVELOPMENT UPDATES

• Mutual Knowledge (MuKn) could not find adequate information in the dev repo at the time they checked and gave a four week estimate for work needed if starting from scratch;
• Marketing planning is hindered until immediate development timeframes are clarified;
• Icaro has noticed business logic documentation and code processes are needed in the Akkadia repo;
• ACTION: A Dev Team update is urgently needed from Michael to confirm tasks and timelines for completion of the Ticket Sales app so MuKn can make a clear assessment to finalise dev tasks going forward;

4. OPERATIONAL AGREEMENT DISCUSSION

• Rich discussed the need for marketing plans to be in place to reach our deliverable targets;
• Tyler raised a point that, in light of recent member exists, the terms of an operational agreement needed to be clarified for DAO members regarding the NFT-DAO LLC. as a legal entity, as well as a clear pathway describing how we move from an LLC as it stands to a self-governing DAO;
• Troy suggested that both are priorities and need to be approached in parallel. Since answers from the dev team are pending, an operational agreement discussion would be useful;
• Rich described considerations that include who are the “owners”, how we add members to the LLC, voting rights, non-voting rights, formation documents. Rich uses entities as a vehicle to attach persons to trusts; and that lawyers or trust fund managers can administer the trust (but this can be expensive);

An operational agreement pathway might include the following:

1. Confirm the legal registration for NFT-DAO LLC. amongst the group – COMPLETE: https://wyobiz.wyo.gov/Business/FilingDetails.aspx?eFNum=117187035128090204062064230129080151087194217068
2. Progress RA Standing from “Delinquent” to “Good” - PENDING
3. Draft a preliminary operational agreement – RICH
4. Brainstorm/research options regarding organisational structure between the Community and the LLC (ie, Trust, Entity and Member relationships) – BUSINESS HOLON
5. Brainstorm/research how monies are administered and distributed from the treasury, including financial account management and multi-sig options – BUSINESS HOLON
6. Brainstorm/research legal issues including copyright protections – BUSINESS HOLON
7. Clarify a Decision-making process regarding a) the optimal organisational structure, b) participant inclusion/exclusion criteria with the LLC., c) signing off financial processes/policies – GOV. HOLON;
8. Confirm/Vote on the above measures – CORE CONTRIBUTORS (TBC)
9. Sign a Finalised Operational Agreement– KEY STAKEHOLDERS (TBC)

OTHER UPDATES

• Troy: Wanted to acknowledge and thank the dev team for the considerable work they had done to date. One takeaway from their meeting (14-5-21) was the importance of starting discussions, relationships and agreements with contributors far sooner. Unfortunately, this had not happened until one week out from a deadline, which didn’t work out well;
• Rich: is in discussions with The University of Wyoming as a potential practical case-study. WYOU may provide accounting, engineering, tokenomics, blockchain development and financial resources. An MOU will be needed but the legal parameters may take some time;
• Tyler: We have an artist MOU, but we will need to find a way to link MOU’s with an operational agreement.
• Rich: Occam.Fi is yet to confirm an AMA date.

ACTION ITEMS (LIST)

WHAT DO WE NEED? (Tasks, Assignments & Timeframes)

ACTIONS DRIVERS TIMEFRAME

• Dev Team Update @Yagi-Michael | ASAP
• Draft a preliminary operational agreement | One week
• Clarify decision-making process @Gov.Holon | One week
• Brainstorm/research organizational structure, Financial processes, legal issues @Business.Holon | TBC
• Finalise Operational Agreement @Business.Holon | TBC
• Sign-off @Core.Contributors | TBC

MEETING ENDED: 10.00PM UT