IQIP-9: Bridging the Real-world and the Metaverse with BrainDAO

Background & Benefits

The IQ protocol has launched BrainDAO today as the first Web 3.0 Metaverse Knowledge Fund. BrainDAO will use IQ Token to fund the future of knowledge on the blockchain. The world’s knowledge and creativity is moving on-chain and into the Metaverse. Constitution DAO raised $40 million in an attempt to purchase The United States Constitution and share the birth of the United States with the world. With BrainDAO, the vision is to use the IQ token to build a decentralized fund dedicated to preserving and bringing real-world knowledge on-chain while also funding the creation of new knowledge. To fulfill this mission the IQ ecosystem is being overhauled and expanded including the IQ token itself.

BrainDAO began as Brainchain last year, since then the vision has expanded. Brainchain was solely focused on bringing real-world data on-chain; however with the IQ protocol’s growth and progress over the last year this vision needed to be expanded. In addition to bringing knowledge on-chain, BrainDAO also focuses on acquiring virtual and real-world assets. This broader vision requires a new DAO that can fund itself and allocate capital efficiently.

In 2022, the goal is to expand BrainDAO into a large decentralized fund capable of realizing the IQ token’s vision of bridging the real world and the Metaverse. The BrainDAO funds can be used to acquire on-chain art related assets like NFTs, Metaverse assets like digital land, video game tokens, and anything else on-chain.

BrainDAO can also be used to acquire and share cultural artifacts. For example, BrainDAO could acquire paintings by old masters like Monet, historical documents like the United States Constitution, artifacts like the Jeulmun vessels from Prehistoric Korea, or even a Tyrannosaurus Rex skeleton from before the times of humans. BrainDAO could then exhibit these artifacts in the Metaverse using blockchain and virtual reality technology.

BrainDAO can also be used to incentivize builders to create new digital assets. For example, IQ holders could vote to dedicate IQ tokens towards commissioning artists to create new NFTs, or developers to create new on-chain video games, or editors to create new Everipedia encyclopedia pages.

Ultimately BrainDAO can be used to fund the acquisition or creation of any asset. The decision of what to fund will be made by IQ holders. Every IQ holder will be able to vote on what assets should be acquired.

How it Works

To establish and fund BrainDAO this proposal involves minting 750 million IQ to be used over the next two years to build out BrainDAO. The LP tokens gained from the sales of IQ bonds on Ethereum and Arbtrum through Olympus Pro will also be held in BrainDAO. BrainDAO will also have long term trading fee revenue from holding these LP tokens. These funds will be used to grow BrainDAO by deploying these funds towards acquiring additional assets. With these funds BrainDAO can begin its mission to bridge the real-world and the Metaverse.

Vote Options

YES, fund BrainDAO with 750 million IQ to be used in the next two years to begin the mission of bridging the real-world and the Metaverse.

DO NOTHING