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Iman Europe and The Agenda chat mental health, music, Web3 and The Homies DAO

Musician and The Homies DAO founder Iman Europe sat down with The Agenda podcast to discuss how her Web3-based project promotes wellness among music workers.

Talk to any musician who has “made it,” and they’ll say that achieving fame is both a gift and a curse. While success in entertainment can obviously bring many positives, it also carries the pressure to stay relevant, the worry of constantly needing to stay connected to fans, and the loss of freedom and privacy that comes with being a regular Joe — all of which can be utterly exhausting. Add a jam-packed events schedule that robs artists of the time to detox and socialize, and fame begins to look like just as much a burden as it may be a blessing.

On the flip side, those aspiring to break through and finally go mainstream deal with the pressure of an uphill climb and the potential outcome that after all the struggle, there might not be a light at the end of the tunnel.

For this reason, mental health, wellness and feeling like one is plugged into a community are things all creators need to allocate time to, and The Homies DAO is focused on just that.

On Episode 17 of The Agenda podcast, hosts Ray Salmond and Jonathan DeYoung speak with singer and The Homies DAO founder Iman Europe about how the collective is using Web3 to bring artists together to focus on wellbeing.

A safe space for artists to breathe, relax and socialize

During the conversation, Europe detailed how lonely being a musician can feel and how difficult it can be to maintain social connections, given that sometimes it seems like family members are constantly hitting you up for money and perks, and strangers you connect with might have the ulterior motive of getting special benefits thanks to their new-found friend’s fame.

“I know a lot of artists felt very burnt out last year and felt like they couldn’t find their footing oftentimes because everything was moving so fast in Web3,” she said. “And so I saw the need for wellness in the space, and I also was needing it. I was juggling being an artist and the head of artist relations of Sound.xyz, and it was a lot. They were two full-time jobs, and I wasn’t making enough time for myself and my wellness, and I saw the effects of that.”

This inspired Europe to found The Homies DAO. “When I got to the end of the year, I knew I wanted to focus this year on wellness more and on being able to give that back to myself and also creating space for artists to do the same.”

When asked about the type of wellness and community activities Homies DAO members could participate in, Europe mentioned that the decentralized autonomous organization (DAO) provides a safe space and community where creators participating in the music industry can socialize, unwind, meditate, work out and engage in activity that offers a sense of community.

“We’re hosting our first event at the end of this month, the Homies Hangout, where we’ll have different forms of wellness. So it’ll be physical wellness — we’ll start with exercise, riding the bikes and spinning. This will be hosted at Burn Cycling. So we’ll start off with that, and then we’ll take a break and then come back for a sound bath, which is spiritual wellness. And then we’ll do some affirmations, and we’ll have someone come in and lead a group therapy session where we can all kind of talk together and talk about mental wellness and different resources to bettering that.”

As for the DAO’s future plans, “We plan to do a few things like monthly meetups like that, but also monthly meetups online where we’re able to just check in with each other and just have a space for that,” said Europe, adding:

“We later plan to do like educational content and just creating different content to bring more people on-chain. We want to create and mint projects through our DAO with the artists, maybe based around wellness. And our hopes are later to expand to offline retreats for artists, artist residencies.”

The Homies aims to put the focus on people instead of the pursuit of profit

Like a handful of the other crypto and Web3-focused DAOs in the space, The Homies DAO also has a nonfungible token (NFT) collection, with holders entitled to DAO membership and various other perks. Generally, projects with tokens or NFTs also have to contend with price speculators and NFT investors who don’t contribute anything to the project.

On the matter, Europe said, “I didn’t want to make this speculative. I wanted to make this more so of a community. They are limited. I think we’ll only have 500 members total right now.”

Related: YouTube releases ‘principles’ for working with music industry on AI tech

When asked why she’s not currently concerned with floor prices, increasing the collective’s size, or even partnering with blue-chip projects, Europe replied:

“We’ll only have 500 because we really want to know each other, and we’re really trying to build a community, not just like a project. I think that’s the difference between a DAO and a project, is you want as many people to be on it as possible. But I think when we think of wellness, it is an intimate thing. And sometimes when you make it more about like clout and, I don’t know, speculation, it loses its truth, and it loses its power to really do what we want to do in this wellness.”

To hear more from Iman Europe’s conversation with The Agenda — including details on some major future plans for The Homies DAO — listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows!

Magazine: Tokenizing music royalties as NFTs could help the next Taylor Swift

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Ethereum layer 2s hold $13.5B stablecoin supply

Former FTX US President lashes out at ‘insecure’ SBF in 49-part Twitter thread rant

Harrison said Bankman-Fried threatened to fire him on the spot and would destroy his professional reputation if he continued to confront the former FTX CEO.

Former FTX US President Brett Harrison has lashed out at Sam Bankman-Fried for manipulating and threatening colleagues who proposed solutions to reorganize FTX US' management structure. 

Harrison shared his experiences with Bankman-Fried and FTX US on Dec. 14, explaining how he was hired “casually over text” in Mar. 2021 after working together at New York-based trading firm Jane Street for a few years.

But six months into Harrison's tenure at FTX US, “cracks began to form” between the two, he said.

Despite recalling Bankman-Fried to be a “sensitive and intellectually curious person” at first, Harrison said he saw “total insecurity and intransigence” in Bankman-Fried when confronted with conflict, particularly when Harrison suggested FTX US establish separate branches for its executive, developer and legal teams.

Harrison added that he “wasn’t sure what accounted for the dramatic change” in Bankman-Fried’s erratic behavior, though he suspected mental health issues may have been a "contributing factor." 

Part of that irrational behavior Harrison describes included a series of gaslighting and manipulation tactics Bankman-Fried used against Harrison and other colleagues in their bid to clean up FTX US' corporate mess.

Harrison also recalled his last attempt to fix FTX US’ organization issues with Bankman-Fried, claiming that he threatened to “destroy my professional reputation” if a formally apology wasn’t received:

Harrison said that event “solidified” his decision to leave.

Related: FTX ex-staffer: Extravagant expenditures and cult-like worshipping of SBF

As for the fraud charges now laid against Bankman-Fried and other FTX colleagues, Harrison said he was blinded by the firm’s alleged commingling and misuse of billions of dollars of customer funds:

“I never could have guessed that underlying these kinds of issues — which I’d seen at other more mature firms in my career and believed not to be fatal to business success — was multi-billion-dollar fraud.”

“If any one of us had suspected let alone learned the truth, we would have reported them immediately,” he added.

Bankman-Fried was granted bail after posting a $250 million bond guarantee and pleading not guilty to all eight criminal charges laid against him on Jan. 3.

Harrison stepped down as FTX US President on Sept. 27 — about five weeks before FTX catastrophically collapsed — where he stated that he moved into an advisory role.

Ethereum layer 2s hold $13.5B stablecoin supply

Key witness called to testify at Terra parliamentary inquiry is a no-show

Kim Seo-joon’s company Hashed had $3.6 billion wiped since Luna Classic’s April high — with the mental effects of the Terra collapse hospitalizing Seo-joon since July.

The CEO of venture capital firm Hashed and early Terra investor Kim Seo-joon has cited “extreme stress” following the Terra crash as the reason for his no-show at South Korea’s National Assembly’s Political Affairs Committee.

Seo-joon was one of six people selected to take part in the South Korean parliament’s latest inquiry to better understand the events that led to the infamous $40 billion wipe out of Terra’s cryptocurrencies, according to an Oct. 24 article from the Korea Economic Daily.

According to a letter from Seo-joon, he suffered severe mental harm from the following the sudden collapse of LUNC and the de-pegging of its associated algorithmic stablecoin TerraUSD Classic (USTC), writing:

“Since the Luna-Terra crash occurred, I have been suffering from anxiety disorder and panic disorder due to extreme mental stress.”

In addition to the letter submitted to the National Assembly, Seo-joon attached an expert opinion and medical certificate which stated that he’d been hospitalized and received psychiatrist treatment since Jul. 29.

Medication and counseling treatment were also said to have worsened Seo-joon’s anxiety, who is “in absolute need of emotional stability at this time,” according to the expert opinion.

A few months after the infamous Luna Classic (LUNC) collapse, Seo-joon disclosed that Hashed had suffered a $3.6 billion loss from its peak value in late April, having owned 30 million LUNC tokens, according to an August interview with Bloomberg.

Earlier this month, the chairman of the South Korean exchange Bithumb, Lee Jung-hoon, also failed to attend the parliamentary hearing on Oct. 6, citing a panic disorder as the reason for his no-show.

Related: South Korean authorities raid 15 entities linked to Terra collapse

Other witnesses called in various stages of the inquiry include Bithumb major shareholder Kang Jong-hyun, CEO of Dunamu which runs South Korea’s largest crypto exchange UpBit Lee Seok-woo, Chai Holdco director Shin Hyun-sung and Terraform Labs co-founder Daniel Shin.

Terra CEO and co-founder Do Kwon was not listed to be inquired by Korea’s Political Affairs Committee — as law enforcement units throughout the globe continue to try tracking his whereabouts.

Ethereum layer 2s hold $13.5B stablecoin supply

Mental health support prime for decentralization, say academics

A shortage of mental health services in the future could be solved with a Web3-powered mental health support network, suggests academics.

Decentralized mental health services could be the answer to the looming shortage of mental health professionals, according to professors from John Hopkins University based in Baltimore.

Speaking to Cointelegraph, Dr. Johannes Thrul from the John Hopkins School of Mental Health postulated that the mental health support sector could take a page from Decentralized Autonomous Organizations (DAOs) by offering support services in a decentralized system.

Dr. Thrul authored a July 22 academic paper looking into “Web3 and digital mental health," envisioning a decentralized peer support system that relies on “individuals with lived experience” to provide help “based on their expertise in managing their own conditions." 

Dr Thrul said the system would work by using a “crypto token tied to the community” which would be rewarded to those that “make positive contributions to the community,” such as helping someone overcome a mental health issue in a peer support enviroment.

He said the system would not be bound to “border restrictions” noting how quickly governments adapted to remote delivery of health services during the COVID-19 pandemic, though he admitted it could not replace the mainstream medical system alone. Instead, it could be used to supplement seeing a traditional psychologist.

Another professor who contributed to the academic paper, Dr. Luke Kalb said a decentralized peer support system will provide more flexibility and freedom to how we approach mental health issues, stating:

“[The] community can come up with their own creative ways to tackle problems […] this peer support system opens up to so many opportunities for creativity.”

The professors noted that such a system may become essential in the future given the likelihood of a shortage of traditional mental health services in the future with “61% of practicing psychiatrists in the U.S. are nearing retirement.”

Related: Mental health and crypto: How does volatility effect well-being?

The paper also cited research by The Department of Health and Human Services which projects “a protracted national workforce shortage in all mental health professionals by 2025.”

Although the professors have just begun the early stages of research, they are hoping to start building the necessary professional relationships to see this happen. Dr. Thrul said, “it’s tough finding the right technical partnership with the same shared vision […] however we want to put this out there and as a call to read, rally, and reach out.”

Ethereum layer 2s hold $13.5B stablecoin supply

Survey Shows 87% of Americans Are Stressed About Inflation and Rising Costs of Everyday Goods

Survey Shows 87% of Americans Are Stressed About Inflation and Rising Costs of Everyday GoodsAs the consumer price index (CPI), a measure of prices for goods and services, hit another all-time high in April reaching 8.3%, Americans are stressed out more than ever about inflation and money. A recent survey published by the American Psychological Association shows that 87% of U.S. residents say inflation on everyday items has driven […]

Ethereum layer 2s hold $13.5B stablecoin supply

Survey Shows 87% of Americans Are Stressed About Inflation and Rising Costs of Everyday Goods

Survey Shows 87% of Americans Are Stressed About Inflation and Rising Costs of Everyday GoodsAs the consumer price index (CPI), a measure of prices for goods and services, hit another all-time high in April reaching 8.3%, Americans are stressed out more than ever about inflation and money. A recent survey published by the American Psychological Association shows that 87% of U.S. residents say inflation on everyday items has driven […]

Ethereum layer 2s hold $13.5B stablecoin supply