Our community raises money through the sale of Grounds and votes. The money raised is held in our community treasury, and we collectively decide how to spend it to further our mission.
Artists create Grounds, and the community votes on their favorite art piece. Grounds artwork is original work and stored directly onchain (not IPFS). Every day, the community chooses the next Ground to send to auction.
Ground auction proceeds are split between the treasury and the artist behind each Ground. Artists who have their art auctioned receive their split of proceeds in the form of Magic Internet Beans and ETH. The proportion of votes and ETH artists receive is configurable by Grounds DAO.
Magic Internet Beans are a nontransferable token that tracks your contributions to Grounds. Votes can be purchased at any time, by anyone. The price of votes is determined by a continuous
VRGDA. On average, 1000 votes are sold every day.
All Ground holders are members of Grounds DAO. One Ground is equal to 1,000 votes. The treasury is controlled exclusively by Ground and Magic Internet Beans holders via governance.