STUDIODAO U.N.A. - Dissolution

This proposal is posted to Snapshot for the community to vote on the dissolution of StudioDAO U.N.A.

To fund the operational dissolution effort, the remaining funds in StudioDAO U.N.A. assets (approx $7688.00) will be transferred to StudioBacklot to administrate this activity.

Here is a summary of StudioDAO's efforts.

StudioDAO U.N.A. achievements: Achieved regulatory navigation and compliance: In a landscape snarled with regulatory uncertainty, we proactively took steps to ensure compliance. Consulting with top entertainment and securities lawyers, we created Studiodao U.N.A.’s nonprofit legal structure to support filmmakers positively, while adhering to the legal standards required by the SEC.

Designed and launched the Studiodao MVP: https://www.studiodao.xyz/ We worked with designers, programmers and the Juicebox team to deliver the StudidoDAO MVP– an innovative integration of Juicebox and NFT sales with proposals, enabling members to actively participate in the decision-making process of Studiodao.

Collaborated with Filmmakers: We recruited exceptional independent filmmaking teams to StudioDAO U.N.A. and attempted to negotiate deals to support their visionary projects– Rosa Tran & Derek Smith’s Unlikely Love Stories, Conor Kerrigan’s Alien To Me, Donick Cary & Mike Rosenstein’s Untitled Good Trip Studios, and Susie Conley & Fernando Urdapilleta’s MoonDAO: Ticket To Space documentary.

Although they did not move beyond development, our negotiations brought us closer to our goal and shed valuable insights about entertainment industry needs and challenges.

Piloted Greenlight Film Festival MVP: The Greenlight Film Festival MVP:https://studiodao.eventive.org/welcome Built on Eventive as a place to screen films and sell tickets to support our community Greenlight Grants without entering the web3 UX. To do this, we trained on the Eventive platform, designed, branded, set up ticket sales accounts, and tested the pilot.

Programmed the Greenlight Film Festival to support StudioDAO filmmakers We secured rights to show two films by Fernando Urdapilleta, the director of Moondao: Ticket To Space, as a way to build support for crowdfunding that film through StudioDAO. We processed the films, added subtitles,created promotional materials, etc.

Rationale for dissolution: StudioDAO’s vision was to innovate film crowdfunding through cryptocurrency, NFT sales, and a unique nonprofit structure to enable legally compliant and community-friendly support for low-budget films.

We did amazing work envisioning a path for StudioDAO U.N.A., and you, along with this amazing community, supported the team with creative energy, ideas, and funding.

Despite our passionate efforts and numerous achievements, we faced many difficult challenges.

Challenges included filmmakers’ reputational concerns due to the negative public perception of crypto and NFTs, exacerbated by FTX and other scandals. Also fears of the regulatory uncertainties of fundraising with NFTs; the complexity and regulatory uncertainties of this type of project have been highlighted by recent SEC findings against Stoner Cats, demonstrating the value and difficulty of finding a legal vehicle for crypto crowdfunding. https://www.sec.gov/news/press-release/2023-178 https://www.theverge.com/2023/9/13/23872048/stoner-cats-nft-sec-mila-kunis-ashton-kutcher

On top of that, the work of StudioDAO U.N.A. was impacted by the bear market for Crypto and NFTs and by major work stoppages in Hollywood during the WGA Writers and SAG Actors strikes.

While this chapter may close, the dream of revolutionizing film crowdfunding remains alive. We believe the future holds many opportunities for innovative models. Your support and participation have been invaluable, and we are immensely grateful for the journey we shared.