Collectooors and JPG NFT Index Twitter Spaces with Chase Chapman and Crews
Primer: The Collectooors is an NFT collection created by Index Coop to govern their newly launched JPEG NFT index. Chase Chapman and Crews from Index Coop share what these two products are about and their thoughts on using NFTs to govern in this Twitter spaces.
Collectooors
Is an NFT collection created by Index Coop to go alongside their NFT index that just launched
It’s a 1 of 100 collection
The designer is Caf, the creative director of Index Coop
Going to delegate the meta-governance power of the NFT index to this NFT collection
All 100 holders will get to help curate the future of the NFT index and to decide on what to do with the yield and airdrops that the NFT index receives
Who Is Normally Involved In Governing An Index?
Everything started with the DeFi Pulse Index (DPI)
It’s a market cap-weighted index of DeFi governance tokens
DPI was launched in September 2020
The meta-governance power of those governance tokens flow to Index Coop and the INDEX token
Have a meta-governance council that consists of individuals from Index Coop’s governance team as well as member in the DeFi ecosystem
INDEX token holders get to vote on the governance proposals of the underlying protocols
JPG Index
An index that gives you exposure to the whole blue chip NFT market
Largest holding is XMON
Second largest holding is in PUNK, the CryptoPunks token from NFTX
Each of the underlying holdings is fully backed by actual NFTs sitting in a vault
The assets in the JPG index give the index governance power over those blue chip NFTs
The price of the JPG index is based on the performance and price of the underlying NFTs
Why Are They Launching An NFT Collection?
It was Crew’s idea to have an NFT collection to promote the JPG index
Have an in-house talent, Caf, their creative designer
Thinking of doing a JPG governance council that is similar to their meta-governance council
Will be doing a liquidity mining campaign. LPs for the JPG index will be entered into a raffle where 1 collectooor is given out each day for the next 30 days
Will have 20-25 Collectooors left to sit in the treasury. Community is going to decide how to distribute the remaining Collectooor NFTs
Adding New Blue Chip NFTs
Use case is to nominate future additions to the index
Mutant Apes recently crossed the liquidity threshold
Expecting the index to accrue airdrops and yields. Could take the airdrop money and give it out as grants to new and coming artists
DAOs Owning Collectooors NFTs
Have given Collectooors out to a few different communities:
Seed Club
PaperclipDAO
Fire Eyes
Gave the communities the freedom to decide how they would like to participate
Will The NFTs As Meta-Governance Power Model Grow In Popularity?
Thinks that it will be the case
It is an alternative to token-based voting
People are searching for new governance models to direct value
Can Collections Be Removed From The Index?
Yes, they can be removed
An NFT collection has to be a certain market cap before they can be on the JPG index
Collections will be removed if they no longer have enough liquidity to be included in the index
Will Each Community Have Their Own Index Or An Equivalent Of Collectooors For Meta-Governance?
A lot of communities are consolidating and curating a tight community
Applying the NFT tools and directing it the way they have done is one way to do it
Creating indexes is difficult, especially for those that require regular rebalancing
As liquidity for assets deepen, it is easier to index them
Will The Increase In Popularity Of ERC-1155s Make The Creation Of Indexes Easier?
Yes, editions of NFTs could be set aside for market-making/providing liquidity
This is better than the current model of minting the entire collection and letting the market develop on OpenSea
Looking For A Community Manager To Spearhead The Collectooors Community
Looking for someone with experience in the NFT community to take over and facilitate
People who are interested can DM Crews
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