This is a summary of all the discussions in the 24X24 Discord during May 2024. It was written by ChatGPT and has not been edited, so may contain slight inaccuracies.

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The Discord group discussion centers on the idea of establishing a non-profit foundation to manage and safeguard the Cryptopunks intellectual property (IP). Key topics include potential activities for the foundation, such as donating Cryptopunks to museums, organizing official exhibitions, producing prints, and hosting meetups and events. The group acknowledges that funding these initiatives will require donations, especially if licensing is not an option. Concerns are raised about the challenges and potential pitfalls of managing grants, with some members expressing caution about the complexities involved.

A significant part of the conversation revolves around the necessity of a clear and compelling mission for the foundation. The group agrees that to attract donations and support, the foundation must demonstrate the value it creates, whether in preserving digital art, supporting artists, or contributing to cultural stewardship. There's an emphasis on the importance of setting expectations and developing community norms to foster good behavior and align actions with the foundation's goals.

The discussion also delves into the legal and strategic aspects of managing the Cryptopunks IP. Members debate the implications of licensing, enforcing IP rights, and the potential risks of becoming a target for criticism. There's a consensus that any action taken must be carefully considered to avoid negative backlash. The idea of encouraging derivative projects to contribute a percentage of their proceeds to the foundation is suggested as a way to support its activities without direct licensing.

The group considers the relationship between the foundation and Yuga Labs, the current IP holders. There's an understanding that the foundation's success depends on aligning its goals with those of Yuga Labs. The discussion highlights the need to craft a narrative that presents the foundation as a beneficial partner, capable of enhancing the long-term value of the Cryptopunks IP. This includes presenting the foundation as a solution to the challenges Yuga Labs faces in managing diverse community expectations and commercial interests.

Governance and structure of the foundation are also key points of discussion. Members suggest a two-step process for establishing the board: an initial interim board to set up the foundation and a permanent board elected later, possibly involving community nominations. There's agreement on the importance of having a board that is mission-focused rather than a popularity contest. The group discusses the potential roles and makeup of the board, including the balance between community representatives and professional non-profit managers.

The conversation includes references to past interactions with Yuga Labs and other stakeholders, noting the need for ongoing communication and strategic planning. Members express optimism about the foundation's potential but recognize the challenges ahead. They emphasize the importance of presenting a well-thought-out plan to Yuga Labs and other stakeholders to gain their support.

Overall, the group's discussion reflects a thorough exploration of the practical, legal, and strategic considerations involved in establishing a non-profit foundation to steward the Cryptopunks IP. There's a clear focus on creating a sustainable and impactful organization that aligns with the community's values and the broader goals of preserving and promoting digital art.