Hicetnunc Set to Become a DAO – NFT

Hicetnunc Quickly Became One of the Largest Platforms for 1/1 NFTs Shortly After Its Release in March of 2021

By using Tezos, they were able to offer no fees and a fast, efficient blockchain. Attractive to traditional artists looking to move into NFTs, Hicetnunc took off.

But, on November 11th, founder Rafael Lima announced that the site is transitioning to a DAO. This seems to be an abrupt decision that has left the site to its users.

DAO, short for Decentralized Autonomous Organization, is the hottest term in Web3. This is a new form of group decision-making. DAOs are fully democratized, transparent, and fully public decision-making processes. Members all carry the same vote, and decisions are automatic. The outcomes of the vote are prebaked into the smart contract, ensuring it is done after the vote is taken.

Therefore, this is now the best way to work with strangers online. Trust between parties is no longer necessary to make decisions.

What Does This Mean for Hicetnunc?

Lima walked away in what artist and developer Matt DesLauriers describes as a “kind of rage-quit reaction to other platforms co-opting and colonizing his ideas”.

Leaving the site as just tokenized media files and assets, the community was able to bring the site back to life.

Now residing on Hicetnunc.art, a mirror of the original site, you can find most of the community minting the same art.

But Whos in Charge if the Person in Charge Walked Away?

TezosTools is the current caretaker of the site until they form a DAO. Platform fees are currently 1%, the lowest available on the smart contract.

hicetnunc swap contract fee has been reduced to 1%
0% was attempted but caused a failwith, it may move down to 0.1% or 0.01% if those are found to workhttps://t.co/dcwBJUH3qR

— � (@_ufffd) November 13, 2021

Multiple mirror sites are available, with Hecetnunc.art being the most popular.

Hoping to continue as an open-source, community-driven platform, the community is hoping to set up a DAO in order to manage the original Hicetnunc.xyz

That process is currently underway, and the transition is something everyone in the NFT community will be watching closely. After seeing the way OpenSea handles their business, for example, maybe a DAO is the better alternative to managing these platforms.

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