WTF is MIRL DAO?!
We strive to be big on community-driven ideas and we believe that transparency is key to the future of fashion. Here is how MIRL DAO can shape the future of creatives and fashion ⬇️
Leading up to $MIRL token launch which will play a huge role in our entire ecosystem, we will be focusing on one of our main pillars, MIRL DAO.
Before we dive into MIRL DAO, let’s first run through the purpose and features of a Decentralised Autonomous Organization.
Brief introduction of Decentralised Autonomous Organizations (DAO)
Decentralized Autonomous Organization (DAO), is an organization designed to be automated and decentralized. The use of DAOs can influence the future of work, music, culture, finance and now, fashion.
DAOs can operate much like a members-only club, where users have to buy a specific NFT to gain access to the organization. MIRL aims to be the next-generation project that not only brings the fashion industry into the Metaverse, but also creatives, designer NFTs, real-world wearables and talented new artists.
The unique structure of a DAO offers the promise of being a community focus label instead of just a profit-driven business model, as well as offering a more socially-conscious structure. Using a community-focused DAO, we can help individuals everywhere prosper rather than focusing only on the desires of a few large shareholders. This could have potential ramifications not only for businesses but also for the manner we choose to address the important issues within our society.
MIRL’s take on DAO
Powered by $MIRL token, MIRL DAO focuses on the benefits brought on by internal transparency and decentralized cooperation. These aspects are critical to ensure and maintain a degree of independence and neutrality, through the mutual interests of all stakeholders. A DAO helps to prevent manipulation and allows for actions to be taken in real-time, as compared to the at the slow pace of traditional business.
All MIRL token holders will be able to pass proposals, vote and contribute to the DAO
Contrasting with exploitations from Web 2.0 entities, MIRL DAOs make creators part-owners of their groups; benefiting more from their work while also enabling them to partake in the decision-making of our ecosystem.
As previously discussed, the issue of systematic opacity has recently been a major topic of discussion amongst the fashion community. Without implementing changes to current business operations and governance models, the industry will not benefit from the exponential growth of blockchain technology and Web3. The purpose of MIRL DAO is to:
(1) Enable full transparency across its participants and stakeholders, allowing information to flow freely within the space;
(2) Give the community and creators a voice in the operations within the MIRL Ecosystem, from production to incentivising emerging artists/designers in the space.
Benefits of MIRL DAO — join us today: https://mirl.club/join
- Members of the DAO will be recipients of proceeds from the Genesis NFT secondary sales, MIRL Labs (e-store) as well as MIRL collection partnerships.
- The DAO will also be the recipient of all other business initiatives by MIRL down the road, similar to the concept of a Kickstarter campaign.
DAO members may be issued the ticket sales from Metaverse Fashion Week; the building of MIRL’s very own metaverse for community members to shop, interact and the launch of subsequent NFT collections.
Revenue is an important aspect for all companies to survive and maintain the company. We’ve seen a lot of projects/DAOs over the years in the crypto market, but majority of them either don’t have a proper business model or are not generating income at all.
For MIRL, our revenue streams come from both the crypto market and traditional retail. All royalty proceeds from the NFT Genesis Collection — plus 50% of the profits generated by the MIRL Labs e-store — will be put into $MIRL DAO. This will enable the launch of subsequent new collections by other fashion designers, as well as provide scholarship grants for aspiring new designers. Based on the income sharing agreement, physical collection sales will also benefit MIRL DAO as well.
We are an operating business with an actual use case in the real world besides the metaverse which allows us to sustain regardless of the crypto market condition. MIRL is a project that everyone can understand, not just crypto-native individuals.
Q1 What has the MIRL team been doing, and what else do we have upcoming?
Our team is currently working hard on building relationships with not just our community members but with our web2, web3 and creatives. We hold a bi-weekly session of AMA to chat with creatives and artists. This allows us to hear what you guys are looking out for within the creative metaverse space.
Partnership exploration with web2 / web3: Ongoing
MIRL Labs (e-store): Launched in May
MIRL’s Bunker: 14th May @ Common Grounds
Metajam Asia in Singapore: May — July
NYC NFT: 21–23 June
SDW: 17–25 Sept
Q2 How can a creative benefit from the MIRL ecosystem?
We are big fans of collaboration.
“Bonds among artists are important aspects of art movements, as was seen in the 70s and 80s in America and around the world.”
We believe that every individual has a unique set of skills and talent, and whenever different artists come in together to work, they are essentially creating a new form of art and masterpiece. Imagine this: Fashion x Music, Science x Art, Illustrator x Architect…there is going to be an infinite combination of collaborations. So with our database of 300 creators (and still growing), we are happy to have creatives’ social networking sessions for you guys to interact and meet up and potentially create the next big thing!
Have a read of how famous artists have collaborated in the past: https://www.artfervour.com/post/timeless-collaborations-a-look-at-memorable-duos-of-the-art-world
Q3 How can we help new artists in the metaverse?
There are 2 aspects to this question…
A. If you are already an NFT artist — We can skip all the technicalities in terms of how to list your artwork in the space.
We spoke to an artist, Jessie Cohen, based in London, where she has already launched 999 NFT artworks and currently is exploring the fashion and textiles aspects, tapping into the web2 space.
Do check her out: @chromakane
How we can actually support is not just the digital aspect, with our connection with web2/3 brands, if there is the right opportunity we will send it your way. Or if there are any proposals we have yet to think about, share them with us and we will connect you with the right point of contact. If you are looking to launch your own merchandise but have no connection to supply chain and production houses, we can assist you with it. Within our team, we have retail and production experts who can better assist you.
B. If you are new to NFT — Fret not! Our founder, Joanna, was once like you, totally clueless.
We will be able to help you guys from branding to marketing and down to the nitty-gritty side such as technical support like building up smart contracts, website design etc… Do refer to the infographic below for details:
Q4 What are some of the creatives that are already in your Ecosystem?
Here are some that were mentioned during the AMA :
Benedict Yu — is a multi-disciplinary art practitioner and researcher who explores Eastern philosophy, psychology, and human behaviour through the lens of contemporary arts, conversational interaction, technology, and artificial intelligence. He is a Taiwanese artist who is currently based in Singapore.
Tobyato — a Singapore visual art artist and illustrator. My artworks are often bold, striking and inspired by traditional Chinese motifs and playful influences. As a lover of street culture, he has been commissioned by the likes of G-SHOCK, Shake Shack, Levi’s, and Asics among others, steadily building a body of work that exemplifies artist brand collaborations.
Myrne — An artist of varied influences ranging from Erol Alkan to Rustie, his musical versatility shines through his collaborations, remixes, and writing credits. His frenetic interweaving of emotion and energy has garnered an international audience of both fans and artists alike, ranging from Miami to Mongolia; in 2018, MYRNE was the first Singaporean act to play at acclaimed dance festivals Ultra Miami and Tomorrowland.
Q5 The DAO is not just for 2D and 3D artists, it is more than that…
Yes, even if you are a photographer or fashion model, there is a place for you. We welcome all artists of various fields. MIRL is excited to explore concepts with you.
Photographers are already taking the NFT world by storm! If Ghozali Everyday can take a selfie of himself and mint it, I’m sure a talented photographer in our AMA space tonight will be able to as well.
Even though we haven’t heard or seen any projects that focus on modelling, you guys could essentially be the first. Who knows we could even use oculus and do body mapping, and modelling in real life and replicate your walking style of you within Decentraland and Sandbox. Imagine you are able to catwalk like Gigi Hadid on a runway. You probably will be the OG of fashion models in the metaverse!
Q6 MIRL is heading over to NYC in June, will artists within the MIRL be featured in NYC?
Is not too late!!! We are open to suggestions! If MIRL has the ability to, we will love to bring you or your artwork whenever we have an event in Singapore or around the world. Do send us your proposal to email@example.com and we can chat with you!
Q7 NFTs are more than a profile picture…
NFT doesn’t exist just like a profile picture, it is more than that! NFTs function as a digital certificate — a passport to unlock many utilities.
NFTs create opportunities for new business models that didn’t exist before. Artists can attach stipulations to an NFT that ensures they get some of the proceeds every time it gets resold, meaning they benefit if their work increases in value.
Q8 How can an opportunity of collaborating with web2 brands come in place through MIRL?
Whenever there are events or projects that web2 brands want to host…we will do up an open call form that we will disseminate to our artists and this gives you an opportunity to take upon the project. And the process of how it works is as below:
Q9 How are we getting funds to sustain the ecosystem?
There are a few ways we are getting funds and will be getting funds
- Through MIRL Genesis Sales on 10 March 2022
- Seed/Private Round from VCs
- Sales from NFT on marketplaces
- On-chain agreement within the MIRL ecosystem in which 50% of the profits will be put back into the MIRL treasury
We are very transparent in the way we want to and will be operating the MIRL ecosystem. And these funds are essentially how you as a community will get to govern the DAO and how we can offer up scholarships every season to support the selected artists. We are giving up to USD 50,000 for our scholarship grant.
Special Shoutout to new artists on our DAO:
Creatives in the house
Graphic Designer, Digital Artist, Former Fine Art Teacher
Graphic Designer & Illustrator
Be Part of MIRL’s family
Come onboard MIRL Club and be part of our ever-growing community! Get your very own MIRL genesis NFT today!
Get $MIRL on MEXC, Register: https://promote.mexc.com/a/MIRLListing
Join us at our social communities below.
MIRL is a FashionFi project to empower creatives around the world in both the metaverse and the physical world. Our ecosystem product includes the DAO and incubator that connects creatives and designers all over the world with a global community. MIRL brings the fashion industry into the Metaverse with community-driven products, unique wear-to-earn NFTs, and talented new creators; all while providing solutions to help manage the systematic issues within the current fashion industry model. While fashion has yet to establish a place in the current Metaverse, MIRL and the FashionFi industry have the potential to grow through building peaceful, mutually beneficial relationships to foster a better, more accessible Metaverse. Since its inception, over 350 aspiring designers have joined the DAO. MIRL is founded by designers and strategists who have worked with H&M, SHEIN, Yahoo, Google and Nike. MIRL is also in partnership with top players such as Bybit, Mintable, AVStar Capital, Solanium, MEXC, DAO Kondr, OXO Capital, Dexlabs, Vistalabs, Magnet Ventures and more.
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