The Canadian Art DAO is designed around a concept: to support Canadian artists.
Here's how we envision it coming together:
Members of the DAO will stake 0.1 ETH (~$400) to the DAO to create a pool of funds which will be used to purchase Canadian artwork.
These members will be able to submit proposals to purchase art. These proposals will be voted on by the members, and if the proposal succeeds the art will be purchased.
Once a given piece of art is purchased, an NFT will be created which will underlie the artwork and be held in trust by the DAO.
Members of the DAO will then be able to display the artwork.
This nuance, whereby the owners of the artwork are displaying it, gives Canadian members of the DAO a taxable deduction.
The DAO will encode the amount of tax deduction for each member in a smart contract, simplifying the process of getting the taxable benefit.
At the outset, the artwork will be digital, but in the future we will expand the DAO to physical art pieces, too.
The Canadian Art DAO is built on top of the TributeDAO primitives which give the members the powers to:
Vote on proposals to purchase Canadian Artwork
Carry a balance of staked eth to apply toward purchases
Hold a collection of NFTs which underlie the artwork purchased by the DAO
Future development will include the ability to:
Create separate governance and proposal voting tokens
Fractionalize the NFTs, dividing up ownership among the members
Vote to identify the executor of purchases on behalf of the DAO