The prestige of ETHglobal events is known far and wide. We are excited to help boost admissions by announcing that nfDAO’s first grant round will go exclusively to projects from NFThack.

Apply to NFThack now right here 📝

What Does it All Mean?

nfDAO is committed to seeing quality projects get the funding and support they need to ensure the future of the NFT ecosystem, so we have allocated $15,000 between 3 categories that will allow nfDAO to boost some lucky teams 🔥

Categories Eligible for Funding: 

• Platforms enabling artists to expand into the NFT space

• Innovative experiences in digital native art

• nfDAO’s choice 

NFT Hackers! Let’s #BUILD

NFTs have gone from a niche corner of the cryptoverse to mainstream faster than anything else in this industry. Let your ingenuity, creativity and development talent guide you to build an awesome hack to further the NFT movement.

We are excited to see what hackers will create in NFT Hack and super stoked to support them in their adventures.

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You can read more about nfDAO here.

One of the biggest problems DAOs currently face is high gas fees, which create issues with on-chain voting, Community decision making, and anything which needs user engagement. This leads to loss of interest, new members being priced out of participation,  and communities ceasing to function. 

It is extremely important to support revolutionary ideas such as DAOs, and to provide resources that allow them to thrive in this world; this is where the power of Layer 2 (L2) comes to fruition. By enabling on-chain governance and decision-making at a fraction of the cost, L2 makes DAOs accessible to everyone! This is what inspired us to summon the DAO on Polygon’s Layer 2 solution (Previously Matic Network).

Here’s how you can join this artistic revolution:

1. Pledge DAI to the nfDAO community and join the gang! Pledging will take place on Polygon’s Matic Network (detailed guide below). 100 DAI for individual members and 5000 DAI for organizations.

2.  Join our Discord server, introduce yourself “here” and fill this form.

How to Pledge using Polygon’s L2 Network (Previously Matic Network)

Step 1: Connect to Metamask and add Matic Network as a custom RPC

It is extremely simple to switch networks using the button near the top right of the Metamask application.

• Click on the network Selection buttons on the top of the app.

• Select ‘Custom RPC’

  

• Enter in the Matic Mainnet Details as follows:

Network Name: Matic Mainnet

New RPC URL: polygon-rpc.com

Chain ID: 137

Symbol: MATIC

Block Explorer URL: https://polygonscan.com/

You need to ensure that you do not miss out on any of the above fields. Once you have added the URL and all details you can click on the SAVE button. You will be directly connected to Matic Mainnet. You can close the dialog box now.

Step 2. Transferring your assets from ETH Mainchain to Matic Mainnet

Since you need DAI to pledge, you can transfer your assets from the Ethereum mainchain to the Matic mainnet using two different bridges: the POS bridge and the Plasma bridge. 

With the POS bridge, you can quickly move your assets from Ethereum mainchain to Matic mainnet in less than 10 minutes.

Head to wallet.matic.network and deposit DAI from Ethereum to Matic.

Note that you will need to pay ETH gas fees to move DAI from Ethereum to the Matic network. You need some ETH in your wallet to pay for that. Gas fees fluctuate and you may want to wait until gas fees are lower. There are tools you can use to monitor gas fees, such as https://etherscan.io/gastracker or Ethereum gas price extension (in the Chrome store, also works on Brave browser). This is a one-time network fee for transferring assets. Once you are on the Matic network, transaction fees are much less.

Step 3. Get MATIC token

MATIC token is the native token of matic network. This is similar to Ether in Ethereum. Therefore to submit your membership proposal, MATIC tokens are required to pay gas fees. If you don't have Matic tokens in your wallet head over to Ramp.network and get them on Matic mainet directly. Gas fees on Matic are much less - that’s the magic of layer 2! So 2-3 MATIC would be more than enough.

You’re all set and ready to join the coolest NFT community in town! To join the nfDAO you need to pledge 100 DAI (If you are an individual member) and $5000 DAI (if you are an organizational member).

Step 4. Go to the DAO Haus page where nfDAO DAO lives. Make sure you’re connected to Matic Network.

Step 5: On our DaoHaus page, go to proposals and then and then + New Proposal.This will present options about the type of proposal you’d like to make, select Membership proposal 

Step 6: Please pledge 100 DAI for 100 shares as an individual member and pledge $5k DAI as an organizational member for 500 shares in the DAO. You can also pledge more than the required amount if you’d like to. This is totally up to you. But every individual member must pledge with at least 100 DAI. (We  won’t be able to onboard you properly if you pledge less.) If the membership proposal passes, your DAI pledge will be used as a “tribute” and go towards the nfDAOGuild Bank. 

Note: Once your proposal gets submitted, it gets added to the list of Unsponsored Proposals. Once done, Share your live pledge link on Discord when it’s ready to be sponsored!
As soon as a member sponsors your membership proposal, the proposal will go into a Voting Period (2 days), for other members to vote on the proposal. Existing members will vote for your proposal and if yes votes exceed no votes, your proposal will be accepted. If you have any queries join Support Channel on nfDAO discord.

Cheers!

What are you waiting for? Get your DAI onto Polygon and join the NFT revolution! 🎉

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This year has been an incredible ride for NFTs, and things are just getting started. We’re super stoked to announce the launch of nfDAO, a dedicated DAO to support and grow NFT projects globally.

Why did nfDAO start?

• With the explosion of global gaming, crypto markets, and DeFi protocols appealing to more people around the world in 2020, it is exceptionally good timing for the NFT (Non-Fungible Token) space and we will witness an NFT Summer in 2021, similar to 2020’s DeFi Summer.

• Overall, the NFT environment continues to grow and 2020 has shown that the industry is becoming far more robust. People are beginning to realize that NFTs can represent nearly anything in the virtual world, as well as being tied to real world assets.

• To continue this growth and support thousands of creators and builders, it is imperative that we all come together to support this budding ecosystem.

• nfDAO was founded to fund potential game-changing NFT projects and provide them with the necessary resources to thrive.

What is nfDAO?

It’s a community DAO whose primary mission is to support and fund NFT projects, that we believe will unlock a new era of mass adoption from NFTs.

How does nfDAO work?

We operate by supporting and helping NFT projects grow, from their earlier stages of operation.

  Project Categories we will fund: 

• Apps / Development

• Music / Events

• Visual Art/Assets

• Gaming

• XR ~ Metaverse(s)

• Defi + NFT 

Why join nfDAO?

As an Organization:

• You are supporting the budding NFT ecosystem and you are able to altruistically fund early stage projects with your DAO shares. 

• As an organization, you get access to the latest projects, ideas, as well as participating in crowdsourced funding of the best projects in the NFT Space. 

As an Individual:

• Connect with like-minded individuals and builders in the NFT space. 

• Take on a role in the DAO (Scout, Mentor, Advise, Develop) and get compensated while leveling up your skills.  

•  Work with a highly aligned group of DAO members to scout, fund, and support groundbreaking NFT projects at a very early stage.

How do I become a member?

Membership applications will be open soon for Organizations and single members soon. Jump in our Discord to follow along with us and submit your application to join the DAO.

Summary and Conclusion + Call to Action

nfDAO has the potential to become a major contributor to the growth and development of the NFT and Ethereum ecosystem as a whole. When passionate and knowledgeable community members support the Blockchain ecosystem, we can achieve greater adoption and value for the whole industry.

Are you interested in joining the NFT Revolution? Join here

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