Payment for GKR app + tech stack

Please open the Miro to follow along with figures: https://miro.com/app/board/uXjVOSOW7PU=/ (zoom out if you cant see, figure in bottom right)

DAO Proposal- Good Karma Records App Developer Payment This proposal sets forth a vote to pay backend developers to create the Good Karma Records app a total amount of 6K in the following disbursements: 1.5K (25%) upfront and 4.5K (75%) upon completion. The app features will launch across a series of dates through May 6th upon which the backend should have complete utility for artists and users to engage in our ecosystem (Figure 1). The main features of the app can be broken down into three categories, support for Good Karma, support for the artists, and the on-chain “notary,” which will be presented in the following discussion.

The App The app will host all functions of the Good Karma Records ecosystem (Figure 2). Through the Good Karma Membership Token (NFT), users will be able to access governance tokens, utility tokens, dynamic show tickets, PFP NFT, participate in signing artists, obtain artist’s song NFT’s, buy and hold artist tokens, and participate in future products. These functions will all occur on L2 excluding dynamic show tickets and future products at this time. The Good Karma Membership Token will be available for purchase at a cost of .005 Oeth (optimistic eth). This membership token will track all of a user’s activities within the Good Karma app including snapshots voted on, successful snapshots brought to the DAO, the events they attend, the tokens they hold, artist NFTs, PFPs, POAPs, and many other fields. The key functions of the app can further be broken down into three categories as mentioned previously, support for Good Karma, support for the artists, and the on-chain “notary.”

Supporting Good Karma Records The app will separate Good Karma governance (100k supply) and utility tokens (20 million supply) (Figure 3). Governance tokens will be capped at 50 MAX per membership token. Governance tokens are transferable between holders and can be gifted, dispersed, and handled at the holder’s behest. These tokens will be linked directly to and show on the membership NFT. Holders will be limited to voting with 50 tokens at any given time but can earn additional tokens through engagement with the community. The DAO will vote on additional disbursements of governance tokens to members who show deep interest and community engagement with Good Karma Records. Users can demonstrate this interest/involvement by attending shows and providing services to the Good Karma community. In short, users can support Good Karma Records governance through “time and effort.” Furthermore, the app will enable the Good Karma team to host DAO voting and send push notifications to users for votes instead of needing to utilize multiple web2 platforms to communicate with the community. This effectively streamlines all of the DAO activities into one simple platform/space. The utility token is separated out from governance to support the internal e-commerce functionality of the app. The utility token can be used to purchase specialty merchandise and tickets to events through the app. Users will get tiered access and benefits for owning a certain amount of the utility token—tier breakdown is to be voted upon later. Users can also stake their utility tokens quarterly to get revenue shares from Good Karma Records. There is no maximum amount of utility tokens a wallet can hold but the total supply will be capped at 20 MILLION. Additionally, Good Karma Records will be able to sell back acquired tokens at the market value to increase revenue streams.

Supporting Good Karma Artists Users of the app will be able to support Good Karma Records artists through two pathways: song NFTs and the $ARTIST token (Figure 4). Purchasing the artist's song NFT provides the user with an uncompressed listening (.wav) track and STEMs from the track. The NFT itself will record how many times the track has been listened to. The artist song NFT is similar to what you can purchase on sound.xyz, but with additional benefits. Holders will be added to a group chat where the artist can directly talk with collectors of the song. This novel functionality boosts artist-fan relationships and incentivizes users to buy the NFTs to directly connect with the artist they support. Users can also purchase additional $ARTIST tokens to support the artist directly financially. The $ARTIST token can be staked quarterly for a percentage of artist revenue. A tiered benefit breakdown will apply to the $ARTIST token whereby holders of certain amounts will be eligible for direct chats from the artist, early access to unfinished or unreleased music, gated access to the fan chat, and more to come. $ARTIST tokens will be time stamped to show how long a user has been supporting the artist—this can lead to additional benefits down the line.

On-chain “Notary” The greatest novel function of the Good Karma Records app will be the on-chain “notary” capabilities (Figure 5). This function like the others presented above can be broken down into two categories: artist “contract” and Music Rights NFTs. The artist contract will act as the legal binding document when signing the artist to Good Karma Records. The contract will be an NTT (non-transferrable token) that is e-signed by the artist's wallet, the Good Karma wallet, the DAO wallet, and DAO member wallets that voted “yes” on signing. Once signed the smart contract will automatically create the $ARTIST token, empty Music Rights NFTs (to be filled later with songs from the artist), and start $ARTIST token open market sales. Once these commands are executed, the contract itself will be transferred and stored on a wallet that cannot be accessed for immutable protection of the agreement. The additional Music Right NFTs created as a part of the on-chain notary differs from the artist song NFT in several ways. The on-chain “notary” Music Right NFT will have the additional features of copyrights/utility rights (acts as BMI/ASCAP), song information such as artist name, writing credit, song length, BPM, key of song, cue tag for DJs, lyrics, .wav file, 2 or 3 MP3 files for streaming, stems (if the artist permits), and an empty spot for a music video. If stems are permitted, they will link back to this native NFT for royalties from usages.

Additional Features The app will host a bevy of other functions for the community and for external entities. There will be PFP NFTs available for purchase with proceeds that directly support Good Karma Records. These NFTs will be the image attached to your membership—If you hold multiple PFP NFTS it will GIF your membership image to show all of them. Holding a Good Karma Records PFP will strengthen your membership “score.” Proceeds of these sales will be used for more fundraising and fun activities for the community. Special ticketing features will allow attendees of events to scan their Good Karma Membership NFT at the door for proof of appearance which will be logged onto the NFTs data and provide an immediate POAP to the member. This will also alert the artist to who is in attendance, so that the artist can communicate to the attendee directly about meetups or after events hosted by the artist, further boosting the artist-fan relationship. For external entities the Good Karma Membership Token will be open so that any NFT project can load into the app as a ticket to an event and provide the same special ticketing functionality as mentioned above. This is proposed to be a prominent revenue stream for the app (and in turn Good Karma) because it allows other entities to utilize the features of the app to support their own music events.

Conclusion In summary, this proposal is set forth to vote upon payment for developers to create the Good Karma Records app that will generate novel on-chain contracts for signed artists and produce revenue streams for the artists and the Good Karma Records DAO. Good Karma Records will directly receive revenue from governance tokens and utility tokens each with a respective MAX cap. The app will streamline DAO and community voting processes as well as merchandise and ticket sales. Artists will receive monetary support from NFT sales and $ARTIST tokens. The app will provide additional features to the artist and fans for direct communications. The on-chain “notary” will provide a completely new way to handle artist contracts and expand music NFT capabilities to host copyrights and metadata beyond what is available on the market at this time. Some of these features will be open to external entities who wish to use the platform for their own music based commerce. In the end what we are hoping to build is a new protocol that people in the space can use to link their web2 and web3 communities and provide ease of use for concert goers and concert providers.

Miro board: https://miro.com/app/board/uXjVOSOW7PU=/