MODA DAO to Protocol Transition

MODA Protocol DAO Proposal

MODA DAO core team propose the implementation, launch and rebrand of MODA DAO to become MODA Protocol - a Web3 music protocol that will be used for the Progressive Decentralization of Digital Music Distribution and Monetization.

Date: [29/11/23]

Executive Summary

MODA DAO core team proposes that the project pivots fully to focus on the development and commercialization of MODA Protocol, a Web3 music launch protocol aimed at the progressive decentralization of digital music distribution and monetization.

This protocol is designed to leverage Web3 technology to foster connections between artists and fans, while offering decentralized storage solutions and promoting community engagement through DAO governance. If successful, the move would present a clearer path to long term sustainability and impact for MODA.

Business Case

MODA Protocol is designed to automate and decentralize the world’s music metadata and file storage. There are more than 200 million songs online today, and with a surge in music production democratization via software, gaming and AI we could be headed towards billions of tracks in the coming years.

Streaming revenue is set to grow 10-fold in the next decade, and with over 250 music streaming apps and digital download stores around the world, an enormous opportunity exists to streamline storage and data delivery services providing cost efficiency, accuracy, more value for creators and healthy profits. Decentralized storage and computation networks are set to become 100% green in 2024, offering storage at half the cost of Amazon S3.

This music storage, data-management and delivery opportunity represents an annual revenue opportunity surpassing $1 Billion USD every year.

Key Features of the MODA Protocol

• $MODA Token: Serves as the native currency within the MODA ecosystem, incentivizing participation and governance.

• NFT Standards: Empowers users to create and sell music as unique digital assets, opening new revenue streams.

• Smart Contracts: Includes cross-chain smart contracts for seamless blockchain integration and enhanced functionality.

• Front-end UI components for ease of use for Web3 Music builders and catalog owners.

• Launch Bonds: A way for protocol funds to be leveraged in a repayable way to launch new music projects.

• Decentralized Storage: Utilizes IPFS for secure and decentralized file storage.

• Revenue Generation: Diverse revenue streams from project launch loans, sales, trades, and distribution fees.

Benefits

• Industry development: As more music companies move into Web3, MODA’s framework provides consistency and interoperability

• Artist Empowerment: Greater control over digital music assets and direct engagement with fans.

• Decentralization: Eliminates intermediaries, ensuring fairness and transparency.

• Innovation: Leverages the latest Web3 technology for efficient music distribution and monetization.

• Impact: New 100% green storage and computation layers will massively decrease the music industry’s environmental footprint

• Community Governance: $MODA token holders participate in decision-making, ensuring democratic governance.

Implementation Plan

• Leverage all existing MODA DAO work, and Incorporate the MODA Protocol into the framework.

• Developer engagement: Find our first build partners

• Community Engagement: Educate and involve our community in the usage and governance of the MODA ecosystem.

• Partnerships: Collaborate with music industry entities for broader adoption and integration.

• Fundraise: Bring in new treasury via the sale of OTC tokens, the creation of a global entity and/or other treasury management initiatives.

• New Listings: Expose MODA to new markets via strategy directory and exchange listings

• Relaunch: Consider whether a full rebrand and token relaunch is required, for example the introduction of a sell-tax.

Financial Implications

• DAO treasury will be fully utilized for the development and growth of MODA Protocol

• Additional investment required for integration and marketing

• Long-term revenue generation through diverse channels as outlined in the protocol.

Voting Options

Yes: Approve the implementation of the MODA Protocol.

No: Reject the proposal.

Additional Considerations

• Detailed analysis available in the lightpaper; https://www.moda.audio/light-paper.pdf

• Previous MODA DAO Music3 Industry paper; https://gateway.pinata.cloud/ipfs/QmX9tuaHepxwaTwTU5TnWDksWNSSm2JWNncc2avLABTavc

• Community discussion forum open for questions and feedback on Discord; https://discord.com/channels/808463591102873601/876785523287556137

Voting Deadline [29/11/23] to [06/12/23]