Spice Club was one of many crypto DAOs, but it was unusually ambitious. The group’s treasury currently indicates its net worth is around $1 million. Alternatively, they can “burn” their $SPICE and withdraw 0.3 ETH, or around $450, per million tokens. In the Spice Club Discord, project lead Kortelin noted that the team was being careful in anticipation of possible crypto regulation. Any remaining $SPICE holders could get a share of its treasury after these projects go live, although the legal language is somewhat cagey. The group previously partnered with comics publisher Frank Miller Presents on an NFT series, which it’s still planning to help release. The group’s current plan includes selling the Dune bible in the fourth quarter of 2023, coinciding with the release of the film Dune: Part Two. But that plan is complicated by the dismal state of the cryptocurrency market and legal questions around DAOs and tokens like $SPICE as well as doubts about whether the book could be auctioned for anything remotely approaching its purchase price of roughly $3 million. The group hopes to make money from the sale of the book and a non-fungible token (NFT) collaboration with comics artist Frank Miller. Members who hold $SPICE might earn returns from the Spice Club’s remaining initiatives.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |