Land DAO Base Currency: ORE

INTRODUCTION

ORE is an ERC20 token that is airdropped to holders of our art NFTs before each new art NFT public sale. Certain art NFTs will receive more ORE than others (e.g. Cartel holders will receive more ORE than holders of our other NFTs). Additionally, ORE may be issued as an incentive for participation in Land DAO governance votes as well as other activities.

USAGE

For our first few launches, ORE can only be used to redeem priority minting and discounted minting for our public sales, however, its use cases will expand over time.

PROPOSAL

Approve the existence and distribution of ORE which will serve as the base currency of Land DAO's ecosystem.

RATIONALE

ORE will be a strong incentive for collectors of our NFTs and allows us to produce NFTs which are productive assets that produce yield on a regular basis. ORE allows us to reward collectors who buy and hold our NFTs, and also serves as an instrument for encouraging and retaining collector engagement as well as potentially attracting traders and DeFi'ers who would otherwise not participate in the NFT space.

TIMELINE

ORE will be created and distributed to Cartel NFT collectors ~1 week before our 2nd NFT launch (early October). Prior to ORE distribution, a contract will be deployed that allows collectors to spend their ORE on free and priority minting passes (spent ORE is burned). Collectors who choose to hold on to their ORE and have 1,000+ can join a private channel on our Discord server.