NFTDAO: Industry Standards 1 (dues)

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This proposal seeks funds to pay yearly dues for IWA members (https://interwork.org/membership/members/)

of $5,000 as a participating member shaping the future of interoperability of NFTs.

Why?

Like web browsers need HTML standards or wireless access points need WiFi standards to avoid forcing the use of vendor specific software or hardware that impacts user experience, so decentralised applications need NFT standards to allow them to be accessed in a consistent manner from any blockchain or even support cross chain transfers.

Two Industry Standards Organisations have recently formed to address NFT standards from different perspectives.

InterWork Alliance (https://interwork.org/)

The InterWork Alliance (IWA) are developing a Token Taxonomy Framework to establish standards for all tokens (not just NFTs) from the perspective of businesses in different industries. As this is built out to support different industry recognised use cases, token templates that define consistent structures and metadata for tokens instantiated from the templates can be accessed and used.

IWA members (https://interwork.org/membership/members/) include leading technology and blockchain organisations and form specialised working groups to identify and develop the required token standards. IWA members will also be able to complete a certification program to allow users of their applications or frameworks to have confidence that they are compliant.
As the IWA are establishing business standards for tokens, they do not stipulate any particular technical implementation approach.

InterNFT (https://internft.org/)

InterNFT are a group formed to define technical standards to make NFTs interoperable across blockchains and to enable ownership, control and rights management of NFT metadata and linked resources regardless of their location.
From a metadata perspective this work has begun by engaging former members of the W3C Credentials Community Group that worked on the DID standard for Decentralised Identifiers. The new InterNFT standard being developed is building on DIDs to define NFTs as (quite rightly) a specific form of DID. The new standard will be DID compliant, but will also provide metadata specific to the requirements of NFTs. This approach will not only make all NFTs uniquely addressable across all blockchains, but will support NFT interactions cross chain.

This approach aligns well with the groundwork IOG has put in to support DIDs on Cardano with Atala PRISM, so we are confident that the NFT DAO framework would be able to incorporate this new standard quite easily.

NFT DAO Memberships

As NFT DAO are aiming to provide a comprehensive NFT framework that can be utilised by any project planning to implement NFTs on Cardano, it is important that we not only incorporate these developing standards into our framework, but also represent the needs of all Cardano projects building on NFT DAO as part of the standards.

This proposal is part one of our funding request for becoming members of these standards organisations. We would like to become a paid member of the IWA at a current annual fee of $5,000. This membership will make NFT DAO eligible to participate in the NFT working group and also have our NFT framework certified.

In future funding rounds, we would also like to become a sponsored member of InterNFT to ensure Cardano's requirements are considered as their standard continues to be developed.

Community Involvement

We are always looking for new members to join NFT DAO. A recording of our first NFT DAO Standards meeting is available at https://youtu.be/ISItR7A7wSo where we talk more about the ideas covered in this proposal. If anyone would like to join our future Standards meetings then please join our Discord server at https://discord.gg/YsKwGQEs97 for more information.

DEFINED SUCCESS REPORTING

3-month: The dues will be paid and participation begun.

6-month: Active and Fully engaged and contributing.

12-month: Ready for yearly dues to be paid again ;-)

TEAM

Phil Lewis, Has IT experience in a broad range of roles (such as technical, architectural and management) and a well balanced perspective, allowing development of solutions that incorporates the best technical fit as well as achieving the non-technical objectives for the business.

Michael Yagi, a senior software engineer with experience facilitating integration between different technologies across many different facets in a smooth, seamless fashion. He has a background in leading the development for projects that need to ship projects with many unknowns in a timely manner. His interest lie in building the bridge between the ocean and the pond (Cardano and "traditional" software engineering) as well as leveraging his game development background for NFT's in the game industry.

Stephen Whitenstall (QA-DAO),Stephen has 30 years' experience in organizing academic, community and business projects. Most recently he has been building the Governance HOLON GitHub in collaboration with NFT-DAO. He is also submitting a proposal for his own QA-DAO and is a co-proposer for A Council of Catalyst DAO's and NFTDAO: Industry Standards 1. Stephen is supporting NFT-DAO QA.