The Guernsey Private Capital & Trust team at Walkers is
pleased to have advised the CreativesDAO on the establishment of
their own legal framework. This momentous occasion not only
empowers all persons involved in creative pursuits but also
facilitates the rapid growth of the NEAR ecosystem. The
CreativesDAO is the first among all Grassroots DAOs built on the
NEAR ecosystem to achieve this feat.
Partner Rupert Morris led the Walkers team, supported by associate
Marcél Treurnicht, in creating a Guernsey non-charitable
purpose trust to act as a grantmaking structure for the
CreativesDAO. The CreativesDAO Trust is intended to serve as a
decentralised grantmaking structure and will be used to allocate
funds to support creative works, mentorship opportunities,
education and training programmes. The funds will also be allocated
towards development of products and services built on NEAR that
will provide additional support to Creatives and the NEAR
ecosystem. Additionally, resources will be allocated to those
persons involved in creatives pursuits that align with the goals
and values of both the CreativesDAO and the NEAR ecosystem.
This is another excellent example of how Guernsey purpose trusts
can be used to bridge the gap between the digital and traditional
economies, and Walkers' Guernsey team is the market leaders in
their use. The Walkers team worked closely with NEAR
Foundation's general counsel Christopher Donovan, head of legal
Bianca Guimaraes-Chadwick, the council members of the CreativesDAO
(who are also appointed as the original trustees) Sahil Massey,
William X, Paul Crans and Karen Sollano as well as Shweta Sangtani
who acts as the first enforcer of The CreativesDAO Trust.
Rupert said: "We are delighted to once again partner with the
NEAR Foundation to assist the CreativesDAO with establishing their
very own Guernsey purpose trust in furtherance of the mission and
goals of the Creatives' Community members".
PRESS RELEASE
19 May 2023
Walkers Advises On Legal framework for CreativesDAO
The Guernsey Private Capital & Trust team at Walkers is pleased to have advised the CreativesDAO on the establishment of their own legal framework.