Spice DAO, a group of crypto investors, paid millions of dollars to acquire a rare version of the science fiction classic Dune, according to The Next Web.
Unbeknownst to them, they merely acquired a copy of the book, not the rights, as several media sites pointed out.
A decentralised autonomous organisation (DAO) is a new way to hold unique assets. A DAO’s goal is to prevent the asset from being sold to a private collector by using crowdsourcing to gather funds and make decisions about the asset. In November, we reported on a DAO’s $47 million bid for a rare copy of the US Constitution, which it lost.
At first appearance, the purchase of Alejandro Jodorowsky’s Dune adaption appears honourable. Only around 20 copies of this adaptation exist today, and even if they don’t assist develop an animated series, their preservation is a service.
But, as IFLScience points out, the DAO intends to transform each page into an NFT before burning the book. Burning the book makes little sense, unless you do it for publicity or to boost the value of the NFTs produced before to the burning.
By bidding 100 times the book’s basic price at an auction house and making themselves an internet laughing stock, they reached a wider audience than any publicity could have. If the movie comes out, people will be curious to see what their version delivers, thus maybe burning a copy of Jorodowsky’s version is a good way to close that chapter.
Wondering what NFTs are? Here’s a guide on – What are NFTs
Want to get one yourself? Here’s more info on – Where to buy NFTs
Wondering how NFTs work? Here’s your guide.
How to invest in NFTs – Earn money from NFTs by investing, maybe?
How to buy NFTs – Buy an NFT yourself.
Also, check out the guide on – How to make money with NFTs
You could make an NFT yourself – Here’s how to make NFTs
And finally, read on how to sell NFTs. Useful stuff! 😉
