Title of the Proposal : Invest in Mr.Misang’s “Time” NFT and acquisition of “Ghosts” NFT
Category : Community Support & Decision
Kudos : Ghosts #5456, t0nyhan
Strategic investment in “Time” NFT for DAO’s collection
By investing our Treasury funds in the purchase of the “Time” NFT, our DAO can actively participate in the “Burning Soul” events, with the opportunity to decide whether or not to claim a specific art piece. This asset could also be utilized for future events, including but not limited to, airdrops, contests, and other proposed activities.
Acquisition of “Ghosts” NFTs to enhance voting power
Our DAO is currently experiencing challenges in reaching the necessary quorum. Purchasing additional “Ghosts” could strengthen our voting power while simultaneously elevating our collection’s floor price. This proposal is put forth with the conviction that such an investment would be advantageous.
- Condition : Method of purchase
- We suggest adopting an “offer” mechanism based on a formula (e.g., 3-month average floor price * 1.1) to execute the purchase. This approach, while possibly time-consuming, is a valuable strategy to prevent potential transaction abuses.
- Please note that this proposition might conflict with Opensea rules. Therefore, we intend to conduct a thorough examination to ensure that feasibility of this approach. If this method be inapplicable, I am prepared to use my personal monthly salary for the purchase. For this, I will increase my monthly salary accordingly and will establish a new wallet specifically for this transaction.
- Utilization of Treasury Ghosts to Boost Voting Power
3.1 Comparison with a Paid-in Capital Increase
There have been numerous suggestions from our holders to leverage the Ghosts currently held in our Treasury. However, this strategy mirrors a paid-in capital increaess. The total market supply of sellable Ghosts is the total number of Ghosts minus those secured in the Treasury. Hence, transferring our Treasury Ghosts to other wallets would increase the number of sellable Ghosts, potentially depreciating our floor price.
3.2 DAO’s Commitment to Mr.Misang’s Collection
As a DAO, we firmly believe that Mr.Misang’s work holds greater value than its current market price. This conviction is evidenced by the fact that most holders are not even listing their NFTs and are, in fact, more inclined to augment their collections. Therefore, reducing the volume of Ghosts held in our Treasury may contradict the DAO’s core purpose. We believe in upholding the inherent value of our holdings, and as such ,we propose to maintain our existing treasury reserves to preserve the value of our community assets.