|1. What is the elevator pitch for the company? |
|DADA is the world's only visual conversation network with a digital art marketplace on the Blockchain.|
|2. Tell us more about the product / service. What problem are you solving? |
|We are the only social network where people speak to each other through drawings, creating collaborative digital art. Before the advent of blockchain, digital art had little value because it could easily be copied and screengrabbed. People consume, share and use visual content on social media without considering that those images belong to an artist and they have value. Artists rarely receive attribution or compensation. We want to change this.
Using blockchain technology, we are channeling the original content our users create in our platform into a decentralized marketplace where artists have Intellectual Property protection and collectors get proof of ownership.
When it comes to art, scarcity has value. With blockchain, we can now assign digital scarcity to drawings through the creation of tokens that represent unique digital assets. So you can make a screenshot of a digital drawing, but it would be like making a photocopy of a dollar bill. The value is in the token.
This decentralized marketplace is run by smart contracts that can verify each transaction and distribute the money without intermediaries, using only code. This empowers artists and the collectors who want to invest in them.
|3. What inspired you to start the company? |
|My name is Beatriz Ramos and I am an artist and entrepreneur. The reason I created DADA was because, as a successful commercial artist in New York, I have worked for some of the biggest companies in the world, yet I don't own any of the intellectual rights to my work over the last 20 years. I have only captured a tiny fraction of the value I created. Now, imagine what happens to artists all over the world. I created DADA to change things. Here's how. |
|4. What market are you targeting & how big is it? Who are the typical customers who would use your product? |
|An untapped multi-billion dollar market for digital art is emerging thanks to the creation of digital scarcity through blockchain.
At this early stage, we are targeting cryptocurrency enthusiasts who are interested in pushing forward the mass adoption of blockchain. It is a niche market of crypto enthusiasts who also want to collect digital art.
|5. How are you different from other companies in this space? What do you think is your competitive advantage? |
|DADA is the only visual conversation platform in the world. It is a new way of creating collaborative art. Nothing like it exists online or offline.
We are also one of the first companies to use the Ethereum blockchain to commercialize the art created in our platform.
|6. What is the business model? How do you plan to generate revenues? |
|Our digital art marketplace is a hybrid between art collecting and trading cards. It has 5 levels of scarcity. Some of its drawings have 1000 prints; some only have 10 prints. A collection of 100 limited-edition drawings with multiple prints can generate $1.3 million.
Creeps & Weirdos is our pilot collection of 100 original limited-edition digital drawings.
We are also issuing a dada token, which will be our community's currency, and will represent the entire collection of drawings made on DADA (about 100,000 drawings to date). We will benefit from its network effects. Each new drawing increases the value of the collection, so the more artists and collectors we have, the more the token will be worth. When the value of the token increases, this benefits the entire DADA community, from artists to collectors, to investors. This token design has not been done before.
We will soon launch a pre-sale of our dada token, and we are offering a discount to early investors. People can already join our whitelist.
|7. Tell us more about the founding team and their background. |
|Beatriz Ramos is the founder and CEO of DADA. She worked at MTV and Disney, and founded her own digital content studio. Our CTO and cofounder Abraham Milano spearheaded the development of our visual conversation platform and is currently coding the smart contracts for our dada token. Judy Mam, our CMO and cofounder, is a Clio Award winner, writer and cultural critic with a background in art and communications.|
|8. Where is the company located? Are you bootstrapped or funded? If funded, who are some of your investors? |
|We are based in New York City. We have mainly bootstrapped, with some investment from friends and family, and from the Matter.vc accelerator from which we are proud graduates this year.|
|9. What are the next steps for the company in the next 12-18 months? And who would you like to connect with? |
|The pre-sale of our token will raise money to develop our mobile app. We expect to launch the app by next Spring and expect to grow from 160K to 3 million users.
We'd like to connect with blockchain investors who are interested in adding value to our community, and we are looking for people who want to buy digital art for its intrinsic value and help us redefine what it means to be an art collector.