Earlier quoted context omitted.
Sounds like a great way to launder money
Spending €2.6M on something worth €26,000? Sounds like a crappy return to me.
Unless you already owned it and are now selling it via auction.
€2.6M spent for a book at auction, believed they would own the IP
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Re: €2.6M spent for a book at auction, believed they would own the IP
#42Insane...
I first thought this was some elitist meme, but their following is taking it seriously.
Re: €2.6M spent for a book at auction, believed they would own the IP
#43Re: €2.6M spent for a book at auction, believed they would own the IP
#44Earlier quoted context omitted.
sorry I hate to be that guy but its not non-challan, its nonchalant. I was confused for a minute their by what non-challan meant ... i was thinking tthat maybe it is related to https://en.wiktionary.org/wiki/challan
I got stuck on that sentence too. I think it is the lack of quotes around the “we will make an original series out of it and sell it to a streaming service”-bit following it that stopped me from seeing 'non-challan' as a mistyped 'nonchalant'.
Non-challan: vegans who refuse to eat challah bread because it's got egg in it?
Re: €2.6M spent for a book at auction, believed they would own the IP
#45My favorite part of this story is that they DAO has actually raised ~$8m, spent $3m on the book (10x the expected auction price), then the "core team" has started paying themselves ~$30k a month[0]. Also, how is this "decentralised" when one person owns over 50% of the voting token? [0] https://snapshot.org/#/dunedao.eth/proposal/0x2038fc240d0e85...
For the sake of accuracy, it appears to me that it is $30k per month total for the core team not each. There is a total maximum operating budget of $50k per month including a maximum of $30k for the core team. When the core team has 4. That is about $8k per month each.
Re: €2.6M spent for a book at auction, believed they would own the IP
#46I made the mistake of diving a bit deeper into the group who bought it and found a proposal where they are talking about literally burning the book they just bought after digitizing it for … reasons I guess [0] At this point I just hope its some sort of practical joke or whatever because this just seems a bit much. [0] https://forum.spicedao.xyz/t/nft-of-the-book-w-proof-of-jpeg...
What happens if you upload copyright protected data in cleartext on a blockchain without having the distribution rights?
Re: €2.6M spent for a book at auction, believed they would own the IP
#47My favorite part of this story is that they DAO has actually raised ~$8m, spent $3m on the book (10x the expected auction price), then the "core team" has started paying themselves ~$30k a month[0]. Also, how is this "decentralised" when one person owns over 50% of the voting token? [0] https://snapshot.org/#/dunedao.eth/proposal/0x2038fc240d0e85...
> the "core team" has started paying themselves ~$30k a month each
But don't forget this team has the Q1 deliverable of presenting "a film treatment and budget by Roble Ridge Productions for the original animated limited series inspired by the book for a community vote on Snapshot" - which one can only assume will be a lot of work... :)
Re: €2.6M spent for a book at auction, believed they would own the IP
#48It feels a bit weird to me to heavily mock and ridicule someone who thought they were doing something for public good.
didn't they initially intend to burn the book to make their NFT (or whatever kind of token) more valuable?
If that's true, then they deserve to be ridiculed and more.
Re: €2.6M spent for a book at auction, believed they would own the IP
#49I think I'm beginning to understand the prices of art NFTs: the majory of people simply don't understand that NFTs aren't representing much anything of value. It's even harder to believe that the box is empty when its price was so high.
I came here to comment something in the likes of this, just to add it helps to understand not only the price of art NFTs but the dynamics of it. These "investments" are all backed up by some fantasy that works in their "realm" - like buying an avatar that will be used in "the metaverse", being the metaverse a collective fantasy and illusion. Just like these fellows are so emotionally invested in this fantasy that the…
To be fair, much of the art market is also smoke and mirrors. Witness Piero Manzoni's work:
https://www.chron.com/life/article/Barry-Tate-s-taste-in-art...
Re: €2.6M spent for a book at auction, believed they would own the IP
#50My favorite part of this story is that they DAO has actually raised ~$8m, spent $3m on the book (10x the expected auction price), then the "core team" has started paying themselves ~$30k a month[0]. Also, how is this "decentralised" when one person owns over 50% of the voting token? [0] https://snapshot.org/#/dunedao.eth/proposal/0x2038fc240d0e85...
It's unbelievably funny and scary at the same time. This is the profile of their "Marketing Lead":
https://twitter.com/YOJIMBO_KING/media
Qualifications listed for their team include "Bitcoin Class of 2013", not sure if a joke or not? The impression is that this is a bunch of 13 year olds who suddenly got a windfall...