What does fractionalizing the Fledge mean?
The Fledge has approximately 9700 square feet of usable space and about 12,000 square feet footprint. Let’s just round it to 10,000 square feet for the sake of our example. Now, lets divide the “blueprint” of the building into 10,000 squares each 1 foot by 1 foot. Then lets assign an NFT to each of the squares. This is fractionalizing the Fledge.
How does fractionalizing the Fledge work?
Each NFT will be listed with a price, the present thought is that each NFT will start with the same value, but we are also playing with the idea that some areas are move valuable than others, e.g. the Sanctuary v. the paint closet.
We will have a sale of each NFT from a platform we build, though you will be able to list your NFT on any compatible network. The NFTs will be on the Polygon chain, so they can be moved to OpenSea and other NFT networks supporting Polygon.
The NFT owners will join a special DAO with proposal creation and voting rights concerning the property and this project. Proposals might include fix the roof, add a solar array, buy another piece of property, spend advertising dollars advertising the project, hire a lawyer, pay a developer, etc.
The repairs, maintenance, improvements and expansions will add value to the building and help drive the price up.
How does Value of the NFTs increase and decrease?
Increases when:
- Improvements are made to the building
- NFTs have unlockables, e.g. free attendance to events
- There is a demand for the NFTs and the trading of them is “active”
Decreases when:
- The building is damaged or something breaks or needs to be replaced
- Property taxes increase
- Utilities increase
- The neighborhood gets more blighted – note we will combat gentrification with building equity and prosperity with our neighbors
Questions to answer:
- What are the legal boundaries?
- Is this a scheme that does not really add value?
- What are the risks involved for all stakeholders?
- How can people get hurt?
- Who should participate and who should not?
- Does this improve our situation?
- Does this work toward the common good?
This project is run by the Fledge DAO in conjunction with the Fledge Foundation.
What is it?
- Community investment trust (sort of)
- Fledge Bounties Maintenance
Who can participate?
- In the initial round this will be limited to 25 people
Why is it important?
What have we done so far?
- Built the Fledge DAO
- Created a road map
- Build DAO tooling to help us manage
What is the budget?
| Revenue | Year 1 | Year 2 | Year 3 |
| NFTs | $150,000 | $200,000 | $300,000 |
| Rent | $10,000 | $22,000 | $72,000 |
| Grants | |||
| Total Revenue | $160,000 | $222,000 | $362,000 |
| Costs | |||
| Home Purchases | $100,000 | $100,000 | $300,000 |
| Maintenance | $10,000 | $20,000 | $50,000 |
| Taxes | $5,000 | $10,000 | $25,000 |
| Legal | $10,000 | $5,000 | $5,000 |
| Marketing | $2,000 | $2,000 | $2,000 |
| Developers | $10,000 | $10,000 | $10,000 |
| Total Cost | $137,000 | $147,000 | $392,000 |
| Profit / Loss | $23,000 | $75,000 | ($30,000) |
| Cash Flow | $23.000 | $98,000 | $68,000 |
| Net Value of Assets | $123,000 | $298,000 | $568,000 |
| NFTs Sold | 1000 | 2000 | 3000 |
| NFT Value | $123 | $149 | $189 |
| Number of Houses | 1 | 2 | 5 |
| Number of People Housed | 3 | 8 | 20 |
| Community Equity Value | 3 | 7 | 17 |
Community Equity Value means the number of NFTs given to renters that represent equity in the system.
How is it funded?
- Sales of NFTs
How can I sponsor?
- Buy an NFT
- Make a donation to the DAO through Giveth
- Make a donation to the DAO