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THE DAO formed by the owners of the SMB project will purchase all intellectual property rights to the collection from HadesDAO, the current owner of the collection.
A cult collection from the Solana ecosystem
MonkDAOa decentralized autonomous organization (DAO) wishes to acquire the rights to the NFT collection Solana Monkey Business (SMB). This DAO launched in 2021 claims to be the first DAO NFT on the Solana network. To belong to it, it is necessary to own an NFT from the collection Solana Monkey Business.
SMB to I launched the “Gen1” from his collection in June 2021, then the “Gen2” in August 2021, the collection of 5,000 pixelated monkeys gaining popularity over the months.
At present, SMB has a floor price of 223 SOL (about $5,427) and has made over 1.8 million SOL (about $43 million) in total sales volume. It is one of biggest collections on Solana.
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A buyout for $2 million
Last February, the DEX Hadeswap bought the collection from its founders. They then transferred ownership to HadesDAO. This Thursday, HadesDAO accepted a proposal allowing MonkeDAO to buy the intellectual property of SMB for the sum of $2 million.
According to the proposal, these rights include all legal trademark registrations, SMB website code, ownership of SMB Twitter and Discord channels and more. The proposal details:
MonkeDAO believes that the SMB Project and all SMB Gen2 NFT holders will benefit from this acquisition and that HadesDAO will benefit more from the cash in its treasury rather than retaining ownership of the SMB Project.
The SMB enthusiast community reacted positively on Twitter to this takeover announcement. For some it is even a announcement historical.
We did it. 🤝 pic.twitter.com/GV4tAZDp8u
— MonkeDAO🍌 (@MonkeDAO) April 13, 2023
The DAO model is increasingly convincing
The DAOs, this new type of innovative and decentralized organization have on the rise. They are particularly popular in the NFT ecosystem and the example of SMB is likely to be emulated.
DAOs are also popular in the field entrepreneurship and investment. DAOs dedicated to investment have multiplied in recent months and make it possible to bring together thousands of investors under a single banner.
An investment DAO can research, select and invest in different projects. Thanks to the combined efforts of these members, she is better able to find the best projects and make the right decisions.
The DAOs are also present in the charitable field, as evidenced by the creation of a DAO by UNICEF. With its growing success, this new type of organization could well shake up the codes in the years to come.
Source : CoinDesk
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