FAQ

FAQ

1.   Why was https://performingartsdao.com created?

The performing arts programs are most impacted by government funding and are usually the first programs to go in some communities.

2. What performing art programs qualify?

What constitutes a performing arts program that needs help?

Any performing arts program or company struggling due to the coronavirus pandemic, staff shortages, or other circumstances beyond its control can be nominated for assistance.

Are performing arts programs vetted?

Yes, we will verify the performing arts program’s name and location (city/state) and confirm they are not a chain company with more than 5 locations.

3. Who decides which programs are awarded the donation?

Performing arts programs with at least ten nominations will receive donations. 50% of the charitable donation from each NFT purchase goes to the nominated performing arts program. The other 50% will be placed in the Performing Arts Fund, and DAO members will vote to determine where these funds will go.

4. What is a DAO?

A DAO (Decentralized Autonomous Organization) is a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed-upon decisions, and at any point, proposals, voting, and even the code itself can be publicly audited.

5. How does DAO voting work?

When the PAF reaches $20,000, the community (NFT owners) will vote on which two performing arts programs will each receive $10,000. Programs will also receive $1,500 out of the fund for every ten nominations. Once voting begins, community members will have 7 calendar days to place their vote.

6. How do performing arts programs get paid?

After the voting has ended, ViciN​​FT will award the winning program the funds based on the Performing Arts DAO agreement.

7. Can a performing arts program win more than once?

No. We want to ensure that each program has a fair shot at support. However, a program can continue to receive nominations, entitling them to 50% of the charitable proceeds from the nomination/NFT purchase.

8. Where can I buy?

9. What wallets are supported?

MetaMask and Magic wallets are supported. If you don’t have a digital wallet, follow simple instructions on setting up a Magic Wallet after your purchase.

10. Can it be traded/gifted?

Yes, you can gift upon checkout when entering the wallet information. 

11. What do you get with your purchase?

For each Performing Arts NFT you purchase, you can nominate a program in need of some extra support(US-based only) and place a vote in the DAO. Your NFT is dynamic and will regularly update to display the total amounts raised for both the Performing Arts Fund and the program you nominated.

Performing Arts Fund
80% of net proceeds go into a Performing Arts Fund controlled by the DAO. When the PAF reaches $20,000, the DAO will vote on which two programs will each receive $10,000. 

  1. Nominate a Performing Arts Program
    Purchase an NFT and nominate a performing arts program/company you’d like to support. For every ten nominations, a program will receive $1,500 from the Performing Arts Fund.
  2. Join the DAO
    Each NFT you own is a DAO vote, and the Performing Arts Community will decide which shop will receive assistance. Visit the FAQ to learn more.
  3. Dynamic NFT
    The NFT image will update to show the Performing Arts Fund progress, such as total funds raised, how the program or company you nominated is progressing and when DAO voting will occur. 

12. Can I change my performing arts program choice after purchasing?

Once you have submitted your performing arts program nomination, we are unable to change the nomination.

13. Can I nominate more than one Performing Arts Program?

You can nominate one performing arts program with each order.  To nominate a different program, you can place a separate order.

14. Will we know what the performing arts program does with the money?

Yes, we ask that the performing arts programs post what they do with the funds on Social media.

15. When/How are winners announced?

Winners will be announced on the webpage and published on the blockchain. When the PAF reaches $20,000, the community (NFT owners) will vote on which two performing arts programs will each receive $10,000. Performing arts programs will also receive $1,500 out of the fund for every ten nominations. Once voting begins, community members will have 7 calendar days to place their vote.

16. Where can I see a list of the nominated performing arts programs?

View nominated restaurants at https://performingartsdao.com/community

19. Do I have to vote for the performing arts program I nominated?

No. Once voting is open, you can vote for any nominated performing arts program.

Need assistance? Email us at support@vicinft.com, and we will get back within 24 business hours.