Art for $MOCA Swaps in Practice
The Genesis Collection is a subset of the M○C△ Permanent Collection that will allow for one artwork per artist who was a positive contributor to the NFT space prior to December 2020. The Genesis Collection is meant to be inclusive, broad, and representative of early creators of crypto art.
Only collectors will be able to contribute artwork to the M○C△ Genesis Collection.
Works are vetted for admission to the Genesis Collection by a 9-person Artist Council comprised of Sparrow, Matt Kane, Osinachi, ROBNESS, arc4g, Sarah Zucker, Martin Lukas Ostachowski, Fabin Rasheed, and Hackatao. This Council determines whether pieces will be accepted into the Collection through a blind vote.
NonFungible.com is performing third-party valuations on accepted works to be exchanged for $MOCA. Contributed works are evaluated by NonFungible.com and $MOCA is granted to the contributor in accordance with the valuation. Contributors will be able to view valuation of artworks prior to accepting terms of the contribution. $MOCA will then be vested on a linear stream over a three-year period to the contributor.
See the images below for details on overall $MOCA allocation and sample valuations from NonFungible.com.
As an example, Laying the First Brick by Joyworld was valued by NonFungible.com at $64,562. The equivalent value in $MOCA is ~12,368 tokens (as of 7/25/2021). Those tokens will be streamed to the contributor over a three year period.