It’s been a busy past 12 months for MODA! At our core, we are a blockchain-based organization dedicated to building a better future for music. The year gone by attests to our dedication to that goal.
From launching groundbreaking audio fingerprinting technology to hosting virtual concerts in our own digital nightclub, we’ve reached some impressive milestones and achievements.
Audio Fingerprinted NFTs
Reaching a significant tech breakthrough in the music industry, we unveiled and launched our audio fingerprinting technology, the cornerstone of our Music3 framework.
Audio fingerprinting grants artists an ironclad verification process, a defense against infringers, and the right to take control of and attribute their creative work. This technology is paramount in safeguarding artistry and giving creators ownership over their IP. From a fan’s perspective, it gives people who love music the opportunity to own a core part of their favorite artist’s musical DNA.
This technology is a new gold standard for digital music, with Creator Genesis, Collector Genesis, Promo Edition and Open Edition copies all sitting within one artist-owned contract.
Since launching Audio Fingerprinting, we have released mints from:
- mau5trap
- NOIZU
- Brux
- Swaré
- Jack Megraw
- Kiraly Payne
- Tom Riddle
- Airports
- Aeon Void
- Blockj4ne
- Lethal Skillz
NFT NYC — Own Your Music
We unveiled the MODA Genesis NFT technology at our June 21st, 2022, Live Launch party in front of 5,000 people. With this new protocol, artists can create, fingerprint, and mint their entire digital music catalog as NFTs from the moment they first interact with the owned web. We have now entered an era where collectibility and usability-focused tech is enabling a seamless, artist-centric way to distribute and consume music. This is crucial for the music industry to embrace and thrive in the new digital age.
NFT NYC was a milestone for MODA. It was the first time that we exhibited our products’ true strength and technological achievements at a significant tech launch, and it was a great success.
V3RSE
An exciting development for MODA was launching our V3RSE digital nightclub. This cutting-edge, multi-level super-club inside decentraland has hosted headline virtual concerts from leading producers, DJs and communities, including mau5trap. It’s open 24/7 and available for private parties and song launches, giving artists and fans a unique and immersive experience.
We were proud to participate in the Metaverse Music Festival 2022, programming three nights of music across every genre imaginable. It was an excellent opportunity for us to showcase the potential of our Music3 framework and demonstrate the power of blockchain-based music.
$MODA
In addition to launching our audio fingerprinting technology, we also found our successful token, $MODA. This token is at the heart of our Music3 framework, enabling artists to create and sell their own NFTs and participate in our artist grants program.
The $MODA token serves as a digital key that is at the heart of the Music3 framework. It is designed to enable artists to create and sell their own digital collectible music, share in the MODA governance process, and participate in the artist grants program.
In addition to its use in the music industry, the $MODA token has the potential to be used in a variety of other creative industries as well. In 2023, we plan to build on $MODA to create new ways for artists to monetize their work and connect with their audience, that could potentially revolutionize the way that artists are compensated for their creations.
Tokenomics Update
We are excited to announce that we have completed the development and auditing of our staking and team vesting contracts and are currently in the testing phase. Our staking system is a process through which holders of $MODA tokens can earn rewards by holding and “staking” their tokens in a wallet or on a specific platform. This helps to secure the network and reward $MODA holders for their contributions and membership in the community.
However, we understand that staking carries certain risks and want to ensure that we approach it cautiously. As a result, we have decided to wait for more favorable market conditions before launching our staking protocol, which we currently anticipate will be in 2023.
MODA Grants
The artist grants project of the MODA DAO has been a major success. Since its launch, we have distributed over $25,000 USD to artists worldwide, providing them with financial support to fund their projects and spread the word about blockchain-based music.
Our artist grants program is designed to support and empower artists as they pursue their careers in the world of web3 music. By providing financial assistance, we hope to help artists overcome some of the barriers and challenges that they may face as they work to establish themselves in the industry.
We are proud to have been able to support so many talented and dedicated artists through this program. These grants have helped to fund a wide range of projects, from the creation of new music to the promotion of existing work. Through this support, we hope to contribute to the growth and development of the web3 music community.
We are committed to continuing this program and to supporting the next generation of web3 stars. If you are an artist interested in applying for a grant, please visit our website for more information. We look forward to supporting your journey as you work to make your mark in the world of web3 music.
DAO Build
We are always looking for ways to engage and involve our community in the decision-making process of the MODA DAO. We believe that the strength of our community lies in its diversity and the participation of its members.
- To this end, we have built a number of ways for the community to get involved in the DAO. One of these is our Crew3 community bounty page, which allows community members to propose and work on tasks that benefit the MODA DAO. These tasks can range from creating new content to helping with community outreach and engagement.
- Another way for community members to get involved is through snapshot voting proposals. These proposals allow community members to vote on important decisions that affect the direction of the MODA DAO. By participating in snapshot voting, community members can have a say in the direction of the organization and help shape its future.
- We hold V3RSE events, which are virtual events that bring together members of the MODA community to discuss important issues and ideas. These events are a great way for community members to connect with each other and stay up-to-date on the latest developments within the MODA DAO.
- In addition to virtual events, we also hold IRL (in real life) meetups for members of the MODA community to connect in person. These meetups are a great opportunity for community members to network and build relationships with each other; most recently, we participated in and sponsored NFT Fest Melbourne, offering an official after party experience for $MODA holders.
- Finally, we have created community Twitter spaces, which are dedicated online spaces where members of the MODA community can discuss important issues and ideas. These spaces provide a platform for community members to connect with each other and stay up-to-date on the latest developments within the MODA DAO.
- Overall, we are committed to building a vibrant and engaged community around the MODA DAO. We encourage all members of the community to get involved and help shape the future of the organization.
As 2023 begins, we’ll be looking to lean into snapshot more (in order to hear more from the community and give them more choice), begin Linkedin Audio talks with Web3 specialists and enrich our Crew3 bounty page that rewards our community members for their participation. With the help of our incredible community managers, we’ve been able to build a receptive and engaged community that is ripe for continued cultivation.
Governance
2022 has been a major year for governance at MODA, and we are proud to have conducted multiple types of proposals with a 100% approval rate. These proposals have included artist grants and token buybacks, and have helped to further our mission of supporting and empowering artists within the web3 music community.
As we look to the year ahead in 2023, we are excited to widen our governance surface to include new initiatives such as our “song a day” project, V3RSE events and operations, an Amplified Artist Grants Program, and minor tokenomic updates. These initiatives are designed to help us continue to grow and evolve as an organization, and to better serve the needs of our community.
One of our main goals at MODA is to eventually become a fully decentralized entity, and 2023 will be an important year as we continue to experiment with new governance structures and seek feedback from our community. We believe that by working together, we can create a more inclusive and equitable music industry that is powered by blockchain technology.
We look forward to continuing to engage with our community and to working together to shape the future of the MODA DAO. Stay tuned for updates on our progress in the coming year.
