21:57
and we did that through the use of the Zho Respect token The Zho Respect token
22:02
is an illquid soulbound token So illlquid means you can't buy it and you can't sell it and soulbound means you
22:09
can't trade it Um and because of that we um give out our ZHO token um for people
22:17
participating in onchain events um different things that we do and that we're working on
22:23
Um and ultimately we also have a weekly meeting that people can come and
22:29
participate in um and share what they've been working on in the last week and um
22:35
work in a group of six to reach consensus on who's done the most to further this Zo's vision anything you're
22:42
kind of doing in the music art tech space um that you're furthering kind of
22:47
the goals of what we're kind of trying to achieve that is you know bringing back data IP and the profit margin back
22:54
to independent artists Um and anyone doing that can kind of get rewarded um
23:00
even if they're doing it for themselves their own art So our goal is to give our token to the individuals that are
23:08
participating the most in what we're doing And uh the goal is that that token is a governance token in everything
23:15
we're doing as a DAO and different decisions we make So one of the big decisions that we've been doing recently
23:20
is just adding new projects to the DAO So we have a few different projects that we can touch on after Um but the idea of
23:29
the DAO is that anyone in the DAO with any Zho respect can propose an idea and
23:34
then other Zhao members who uh want to manifest that idea into reality um can
23:40
vote on that with their Zo respect and uh potentially comment on that with their social capital that they can share
23:47
as well Right now we don't have a treasury for a number of reasons Um
23:54
but eventually it would be amazing to have financial and social capital involved But our goal isn't to do the
24:00
financial capital cuz that's been done before in the Dow space A lot of other people are doing that In fact everyone else is doing that We're trying to do
24:06
something different um and really create that social capital um around this community and really that spreads the
24:14
Zho IP And that's the ultimate goal is to empower all of the creators in the
24:19
Zho to create their own version of what we're doing So we really want to create open-source decentralized technology um
24:26
that other um individuals in our community can use and emulate All right Amazing And so you mentioned
24:35
earlier about labels or artists you know there's like a 70 80%
24:41
um that it gets cut What is the situation with existing offerings and
24:47
how does the zal differ for that so is it like a lower percentage is that not a
24:52
percent great great question Um so I would say that labels take a majority of
24:59
the percentage We'll just say that Anywhere 50 or more Um the idea in the
25:05
music industry before was you make a song it's good enough to go viral you
25:11
get signed um to a big record label That record label the way it works is gives
25:18
you money up front that you're supposed to pay back later that I think a lot of people don't recognize um to make your
25:25
music And the idea is that with that money you use that as investment capital
25:30
to grow your brand and grow it into something that's worthwhile for them to continue investing in you Um and that
25:39
works in a different amount of ways but they will take a majority of the
25:44
percentage And then there's also a lot of folks that get their initial deal spend it on um expensive things that
25:51
aren't good for their career like cars or or whatever um and then be in a
25:57
position where they are in debt to this label and they kind of don't have control over anything in their career
26:04
and life at that point So that can be a big challenge Um so the ultimate goal really is IP Um and then the next thing
26:10
is the profit margin So we have a ton of different offerings Our goal is to
26:16
empower individuals whether they want to u be the entrepreneur and learn all of
26:21
the pieces that it takes to bring the profit margin to them um in a myriad of
26:26
different ways um or uh someone who just wants to make music wants to give
26:33
someone else the responsibility of everything else distribution this that and the third and we can either do some
26:38
of those or facilitate other individuals in our network that are doing those capacities in the onchain music
26:46
space and that would be at you know a lower percentage I mean 10 or less uh is where
26:54
my mind goes um for some of those things um which is a lion share less than than
27:00
50 um and the goal ultimately is if you want to make that 10% zero and learn
27:06
them all yourselves we would love to empower you with that knowledge and teach you how to be able to do that
27:13
Uh and then we also are working on a couple decentralized applications that
27:19
take a percentage on transaction fees for tokens So the goal ultimately with
27:24
those as well is um we're using them for music battles So for every transaction
27:30
that's made by a consumer um a portion of that's coming back to us and a portion of that's also going to the
27:36
artist So our goal is to make a percentage off of what the consumer is
27:41
buying and selling and take a bit of the profit off of that for us as well as the artist
27:47
Okay Nice So a great alternative then that Yeah I guess like you said involves
27:54
just having more ownership over IP and being able to retain more of their
28:01
earnings for their creative product or their work Um and so who who can join
28:09
the Zho is it mainly for musicians is it other artists as well yeah No Um the Zo
28:15
is super open to anyone Um we have done different events with visual artists as
28:22
well um that have joined the Zho as well as um developers entrepreneurs kind of
28:29
any we have a lot of community members that don't make art as well and just participate in being a part of the
28:36
community One of our community members runs the Zho calendar So she has runs Zho community calendar She reaches out
28:42
to anyone that's doing anything in the space the that has a space that has a the YouTube that has a metaverse um
28:50
that's doing an event um and tried to add it to our calendar um so she kind of
28:55
has taken charge of that um but she's not an artist herself so it's awesome to have um a crazy amount of different um
29:02
folks from a lot of different perspectives Yeah that's awesome And in terms of
29:10
getting involved as an artist how does that work do you apply or do you get
29:15
voted in or tell us about that so the ultimate goal is to have that individual join our fractal meetings which are
29:22
Mondays at 600 p.m Eastern Um however we know that time doesn't work for everyone
29:28
around the world A and then also some people are just not available on Monday So with that option we would reach out
29:35
to them to come to a ZAW event get more involved read about what we're doing um
29:41
and participate in collaborating with someone that's in the ZHA to get more involved and find a way to potentially
29:47
earn Zho tokens outside of the Fractal meetings because we do have those opportunities as well
29:54
Okay And then you mentioned the the Zo respect token which is not a typical
30:00
token What made you go that route ah I love it Um I have also been blessed with
30:08
a lot of amazing communities in the web 3 space I got um put in a community by a
30:14
friend of mine from PDX DAO which is our in-person DAO out in Oregon Um and he
30:21
introduced me to this group called Optimism Fractal Um and Optimism Fractal
30:28
um was in its about sixth week of doing their respect game when I joined and I
30:33
kept on joining week after week getting more involved earning more optimism respect same concept as respect Um and
30:40
through that I realized that um from that community a I really enjoyed the
30:47
way it was set up compared to a lot of other crypto communities around me B it was from another community called Eden
30:53
Fractal that also met every week And then C they were both from Fractally So
31:00
we actually took a piece of um tech idea
31:06
um kind of you could say forked an idea um and took what they've been working on
31:12
and what they've kind of perfected over the last three four years because they've been kind of working on this
31:17
idea of how can we um give value and respect to folks on the digital side Um
31:24
and I realized when I jo jump jumped in immediately that this was amazing for what we were doing and started chatting
31:30
with the optimism fractal um host and just uh started getting more thoughts
31:36
and more involved and that's kind of where I came up with the whole idea We've taken it a little bit of a
31:42
different route than they've done They just do the fractal meetings and that's it We are using that as our form of
31:49
initially decentralizing our governance and getting more individuals power to
31:55
make a difference in the south