Overstimulated
My name is Daniel Allan and I’m seeking a 20 ETH advance in exchange for 50% of the artist share of my next EP ‘Overstimulated’.
Who Am I?
I’ve been making music since I was 14. When I turned 22, I dropped everything and moved to Los Angeles to pursue a life in music. Music has been my passion since my Dad first gave me a Beatles CD and my Mom forced me into classical music, so living in LA and making music every day has been a dream come true.
I grew up in Louisville, Kentucky. When I was in middle school I noticed rappers needed ways to record and that I could be that guy. Having no experience, I set up shop in my bedroom closet, where I proceeded to record everyone that had any semblance of a demo. By my sophomore year in high school, I eagerly suggested to be their producer too.
After my sophomore year I ended up at Lollapalooza - by total accident. I managed to spend all of my savings on a last minute ticket. I was instantly hooked and over the course of the next four years would go to as many shows as I could and proceeded to produce a heinous amount of EDM. I became addicted to the process and came to appreciate artistry.
I’ve always had the craziest appreciation for artists that seamlessly blend their audiovisual worlds. My biggest inspirations are Odesza, Flume, and Kanye West because their live shows play into the experience just as much as the music. I’ve always aspired to do the same for people who come across my music.
My Crypto Journey
I’ve worked with various record labels to get on the map with A&R’s and artists that I've now become lifelong friends with.
As I dove deeper into the label world to pursue full-time artistry, I realized how difficult it was to give up so much of my master ownership for fairly little in return. This made me take a step back to take on artist-adjacent projects - like mixing, mastering, production, and engineering. While they help pay the bills, they are not creatively fulfilling.
In April, my friend Coopahtroopa introduced me to NFTs. It changed my life; for the first time, I owned all of the music that I was putting out and people were assigning an actual value to my art. I began minting on Catalog and quickly got the attention of some incredible collectors like Brett Shear.
With my excitement growing -and in an attempt to learn more- I began sitting in on calls and joining Discord servers that had anything to do with the space. I’m a proud member of Friends and Benefits and Songcamp, where I try to sit in on as many calls as I can.
A few months ago I played a small showcase to multiple A&Rs. With the industry slowing down and my ever growing interest in web3, I began to wonder if there was an alternative to the traditional label route. I wanted to explore a solution at the intersection of crypto and music.
This is where Overstimulated comes into play.
Overstimulated
Overstimulated is a project that comments on my personal journey and its overwhelming nature. When life gets hectic, my primary coping mechanism is to lock myself in a room and work it out with music. Sometimes I don’t really know how to communicate, so I suppose this project is my way of sharing that experience with the world.
It’s a community-owned project, meaning I’m tokenizing the master rights to the artist share of the project.
The project (available in my Discord below) is a 6 track journey through my head.
- Stuck
- Feel Like That (with Idarose)
- Say What You Want (with Deegan)
- Really Cool (with Deegan)
- Poison (with DLG.)
- Too Close (with bloody white)
This body of work is my most prized possession, and I’m hoping that with your help we can see it come to life.
Motivation
The decision to release Overstimulated as a community-owned DAO was simple.
- Retain creative control.
- Remove the creative bottleneck.
- Find a new avenue for building community.
- Experiment with a new way to fund a release.
- Raise working capital without selling ownership to a major label.
- Explore what a crypto-native EP looks like.
This would be (to my knowledge) the first music crypto-funded crowdfund, which would offer great exposure to the space and encourage other artists to pursue independence.
As I look to make an impact in web3, I want to explore a novel funding mechanism to truly engage fans and experiment with community governance.
How it Works
This crowdfund is looking to raise 20 ETH in exchange for 50% of the artist share of Overstimulated’s master royalties.
Overstimulated will be 100% owned through a governance token - $OVERSTIM.
The contract address for $OVERSTIM is: 0x18f623e397EF28F1A5a094840f7F6f5587828b94
For ETH contributed, backers will receive $OVERSTIM.
The crowdfund will feature a soft cap of 20 ETH, and a hard cap of 50 ETH. It will run for 7 days, or until the hard cap has been reached.
All $OVERSTIM holders will receive access to private Overstimulated Discord channels with different sections baked out for payouts, accounting and governance.
Each quarter, the Overstimulated team will be responsible for converting royalty payments from DSPs like Spotify and Apple Music and converting them to USDC.
We will take a snapshot of $OVERSTIM balances once per quarter, and use a splits contract to assign pro-rata ownership of all tokenholders based on their share of the supply.
This means that fans, the team and myself as an artist will all receive payouts through the same mechanism. Splits contracts are claimable by the owner, meaning token-holders will need to pay gas fees to collect USDC that is allocated to them.
The Overstimulated team will provide transparent reporting on all income generated from the project, and share a detailed report on fiat on-ramping and on-chain transaction history for deposits.
Overstimulated NFTs
To participate in the crowdfund, interested parties can collect one (or multiple) of the below defined NFTs.
All ETH contributed to the purchase of the NFTs will return $OVERSTIM tokens at a rate of 100 $OVERSTIM per 0.1 ETH.
Lifetime Access (3 total)
The top bidder will receive lifetime AA +1 to any Daniel Allan headline show.
The top three bidders will be added as signers on the Overstimulated multsig.
Platinum - 1 ETH (10 total)
VIP +1 to any Daniel Allan headline show of your choice.
Gold - 0.25 ETH (25 total)
Signed Vinyl + VIP access to one Daniel Allan headline of your choice.
Silver - 0.1 ETH (100 total)
Early access to a private listening party and governance rights in the Overstimulated project.
Contribute Directly
Purchase $OVERSTIM directly without any of the above benefits.
All tiers are cumulative, meaning Lifetime Access receives all benefits from Platinum and beyond.
Team
The following team will be tasked with bringing Overstimulated to life. From there, it’s on us as a community to help it thrive.
Existing team members include:
- Daniel Allan - Me
- Coopahtroopa - Project Manager - Friends with Benefits, Audius, Variant
- Lisa (Girl Of The Year) - Creative Director - Iris Temple, EMPIRE, Victor Internet
- Metsa - NFT Designer
- Francois Boulo - Artwork - Universal
- Cece Palmquist - Artist Relations / Marketing
Token Distribution
Soft Cap: 20 ETH
Hard Cap: 50 ETH
Conversion Rate: 0.001 OVERSTIM/ETH
50% of the $OVERSTIM supply will be retained by the Overstimulated Team. The remaining 50% will be distributed to the community through this crowdfund.
All funds will be custodied in a Gnosis Safe Multsig - found here.
In the future, $OVERSTIM token holders reserve the right to issue additional tokens.
Use of Funds
Detailed below are estimated use of funds. These amounts and exact figures are likely to change, but any and all expenses will be documented and shared with $OVERSTIM holders via Discord.
- Photo Shoot - $1000
- Cover Art - $1900
- Visualizers - $1200
- Creative Editing - $1000
- Marketing - $10000 - $25000
- Long Form Video + BTS and Micro Content - $4000
- Live Show Visuals - $1500
- Mastering - $300
Additional expenses may include but are not limited to curation, contributor compensation and living expenses.
I plan to retain ~$40-50k worth of funds to cover my day to day life as a living salary.
Timeline
- September 27th - Crowdfund starts
- Oct 4th - Crowdfund Ends, $OVERSTIM distributed
- Oct 22nd - Single 1
- Nov 12th - Single 2
- Dec 3rd - Single 3
- Jan 7th - EP Overstimulated
Closing Thoughts
This experiment showcases the power of web3 in an incredibly visceral way.
I’d like to thank all those who have contributed to this plan and to those who will be a part of the community in the months to come. When it comes to working in crypto, I’ve often found that diving in head first is the best way to learn.
I’m thankful for your time, effort and support and welcome you to the Overstimulated journey!