How to manage NFTs from your DAO

DAO treasuries can hold different types of onchain assets, including NFTs. You may want to use a DAO to collect and manage NFTs as a group!

Here’s how to deposit and withdraw NFTs from your DAO on the Aragon App. 

How to deposit an NFT into your DAO treasury

Like wallets, DAOs have contract addresses. So, sending an NFT to your DAO on the Aragon App is just like sending an NFT to any other wallet. 

Here’s how to find your DAO’s contract address so you can send your NFT to it: 

1: From the DAO Dashboard, click “Deposit Funds.”

You’ll see the button to deposit funds on the right hand side. 

2: Copy the contract address

The contract address is at the bottom. Click the clipboard to copy it. 

3: Open the wallet that holds the NFT and create a transaction to send the NFT from your wallet to the DAO contract

Now, from your wallet, simply send the NFT like you would send it to any other wallet!

This step will vary based on which wallet you use. 

4: Check the block explorer to see that the NFT has arrived!

You can check the block explorer for the chain your DAO is deployed on to make sure the NFT has arrived into your DAO! You can open the block explorer by clicking Deposit Funds again and clicking the arrow next to the clipboard. 

You’ll see the NFT listed under the NFT transactions tab. 

How to withdraw an NFT from your DAO treasury

1: From the DAO Dashboard, click New Proposal

Withdrawing an NFT requires you to create and pass a proposal in your DAO. 

2: Add a title, description, and body

Add the information your DAO members will want to know when deciding how they want to vote. 

3: Choose voting options

Choose the start and end time for the vote. 

4: Click add action and choose smart contract composer

You will need to create an onchain action to withdraw the NFT.

5: From a separate tab, open the block explorer and find the NFT your DAO wants to withdraw

Go to your DAO’s page on a block explorer. Find the NFT transactions and open the NFT your DAO wants to withdraw.

Copy the NFT contract address.

6: Paste the NFT contract address in the App and wait for it to verify

Paste in this address and wait for it to verify. When verification is complete, you can click “Create Action.” 

7: Scroll down to find the TransferFrom action and fill out the fields

Put this information in the fields: 

From: your DAO contract address

To: the new wallet you want to send the NFT to

Token ID: go back to the NFT page on the block explorer to find this number

Add the action and complete the proposal! 

8: Create the proposal and wait for DAO members to vote

The proposal will need to pass for the action to become executable.

9: If the proposal passes, execute the action to finish the withdrawal of the NFT

Click the “Execute Now” button to execute the onchain action, which will transfer the NFT from the DAO treasury to the wallet you specified. If you want, you can check to make sure the action completed on a block explorer. 

Get started on the Aragon App today 

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