NFT DAO Governance and Community 5

Question 1

What is a 'DAO grant program' in the NFT art world?

Accepted Answer

A treasury-funded initiative to financially support artists or projects chosen by community vote

Answer

DAO grant programs let communities vote to allocate treasury funds to artists, curators, or developers whose work aligns with the DAO's mission.

Question 2

Which smart contract standard is most commonly used to implement NFT DAO membership tokens?

Accepted Answer

ERC-721 (for unique membership NFTs) or ERC-20 (for fungible governance tokens)

Answer

Most NFT DAOs use ERC-721 for unique membership passes and ERC-20 for fungible governance tokens, though ERC-1155 is also used for hybrid needs.

Question 3

What is 'retroactive public goods funding' in NFT DAO governance?

Accepted Answer

Rewarding contributors after the fact for work that already benefited the community

Answer

Retroactive funding models reward contributors whose past work proved valuable, rather than funding speculative work upfront — popularized by Optimism's RetroPGF.

Question 4

How does 'reputation-based governance' differ from token-based governance in NFT DAOs?

Accepted Answer

Voting power is earned through contributions and community trust rather than token purchases

Answer

Reputation-based governance assigns voting weight based on member contributions, participation, or peer endorsements rather than purchased tokens.

Question 5

What is a common reason NFT art DAOs implement a 'proposal deposit' requirement?

Accepted Answer

To filter out spam proposals by requiring submitters to stake tokens that are lost if the proposal fails badly

Answer

Proposal deposits deter frivolous or malicious submissions by requiring submitters to risk a token stake, which may be slashed if the proposal is overwhelmingly rejected.

NFT - Art Practice Test

NFT - Art Practice Test

NFT DAO Governance and Community 5