MonkeDAO is looking to buy the rights to the famous Solana Monkey Business NFT collection


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THE DAO founded by the owners of the SMB project will purchase all intellectual property rights to the collection from HadesDAO, the current owner of the collection.

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A cult collection from the Solana ecosystem.

MonkeDAO, a Decentralized Autonomous Organization (DAO) wants to acquire the rights to the Solana Monkey Business (SMB) NFT collection. This DAO launched in 2021 claims to be the the first DAO NFT on the Solana network. To belong to him, it is necessary NFT ownership from collection Solana Monkey Business.

SMB launched the “Gen1” from his collection in June 2021, then the “Gen2” in August 2021, the collection of 5,000 pixel monkeys gaining popularity over the months.

Currently, SMB has a floor price of 223 SOL (about $5,427) and has made over 1.8 million SOL (about $43 million) in the total amount of sales. It is one of the largest collections on Solana.

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Buy out 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 that allows MonkeDAO to purchase SMB’s intellectual property for the the sum of $2 million.

According to the proposal, those rights include all legal trademark registrations, SMB website code, ownership of SMB Twitter and Discord channels and more. Details of the proposal:

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.

An enthusiastic community responded to the SMB positively on Twitter to this takeover announcement. For some it is worth it Notice historical.

The DAO model is becoming more convincing

The OCS, this new type of organization is innovative and decentralized on rise. They are very popular in the NFT ecosystem and the SMB example is likely to be emulated.

DAO is also very popular in the field entrepreneurship and investment. OCTs dedicated to investment have grown in recent months and can bring together thousands of investors under one banner.

DAO can invest research, select and invest in various projects. Thanks to the joint efforts of these members, she is able to find the best projects and make the right decisions.

CSOs are also present in the charity sector, as evidenced by the creation of DAO by UNICEF. With its success, this type of new organization could well be shake up the codes in the coming years.

Source: CoinDesk

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