The Infinite Machine Movie NFT Holders Will Sit at The Producers’ Table Via a DAO
Infinite Machine DAO to be credited as an Executive Producer.
By: The Defiant TeamByte
The Infinite Machine Collection, the NFT project funding the movie based on Camila Russo’s best-selling book on Ethereum, announced its plans for NFT holders to form a decentralized organization which will have a seat at the film’s producers’ table.
Proceeds from The Infinite Machine NFT mints are distributed so that 10% of funds go to a community treasury, meant to seed the future decentralized autonomous organization (DAO). 22.5% of proceeds go to the 36 intervening artists, and the rest goes towards the movie production budget, up to $16M. After the movie budget is covered, 50% goes to fund the DAO.
The Infinite Machine DAO will be managed by its three founders – Russo, Francisco Gordillo, and Alejandro Miranda– and a number of delegates to be chosen by the community. Delegates will become credited Associate Producers of the movie, and the DAO itself will become an Executive Producer, with direct influence in the making of the film. The DAO governance structure and delegation process will be announced after the third and final mint.
“The Infinite Machine DAO will be a community of individuals whose lives have been shaped and changed by Ethereum and are passionate about giving back to the network,” Russo said.
“The group will champion the message of self-sovereignty and decentralization, opening eyes across the world to this alternative society where individuals can own their assets and information, and have greater control over their own destiny.”
The announcement comes ahead of the second of three NFT sales, scheduled for this Sunday, Jan. 16, at 22:00 UTC TIME, when 3,000of the 10,499 NFTs in the collection will be sold at a flat price to be announced on Saturday. More information can be found on the minting site.
Whitelisted addresses, which will be mostly sourced from the project’s open Discord server, will have a chance to mint before the general public.
The project sold all the 2,100 NFTs it offered in its first sale, held on Dec. 20, in 28 hours. It raised 168 ETH, with the NFTs priced at 0.08 ETH per token. Contributing artists, who come from emerging countries including Cuba, Argentina, Venezuela, Kenya, India, Bolivia and Chile, received 1.05 ETH apiece from this first sale alone.
Once the entire collection is minted, the NFTs’ rarity traits will be revealed, giving holders a chance to receive movie-related perks, including the opportunity to appear as an extra in the movie, a VIP pass to the premiere, an invitation to visit the shooting live, and more.
The Infinite Machine movie will be the first initiative supported by the DAO, after which other projects that amplify the message of Ethereum and decentralization across the globe will follow. The ultimate objective of the DAO is to become a major player in the support of Ethereum centric audiovisual and educational projects.