While the entity is Australian-based, MODA has a clear global approach. MODA does not have a traditional shareholder structure and is not eligible for charity donation or tax concessions.
This is ideal for the formation of a DAO, as advised by Australian law firms. This structure allows MODA to interface with a 'real world' entity, meaning our collective is a legitimate part of the music industry!
The corporate structure is free of shareholders resulting in MODA having no other profit mandate outside of its mission and core tokenomics. It also means the entity can be dissolved freely when the time comes that DAOs can operate with regulatory clarity all around the world. We envision this happening within 3 years and have designed a roadmap around it.
Most recently, the Australian government has announced it will take a closer look at the role of the DAO structure within finance and innovation.