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Solana Monkey Business IP purchased by the DAO of NFT holders

Solana Monkey Business, one of the most valuable NFT collections, has been acquired by decentralized autonomous organization (DAO), MonkeDAO, after disputes with the project’s creators and most recent owner. The acquisition was made possible after a HadesDAO governance proposal passed with over 97% of token-based votes. MonkeDAO, which is made up of independent shareholders in the project, called the event their “independence day”. SOL Big Brain, a pseudonymous NFT whale, tweeted that he provided $1m to MonkeDAO for the Hadeswap purchase process. After the acquisition, MonkeDAO requested a share of secondary market royalties to fund DAO-approved efforts to improve the project’s worth. Solana Monkey Business launched in June 2021 with a limited Gen1 selection before the 5,000 pixel profile images were removed, and Gen2 has traded $164 million, according to CryptoSlam data. Meanwhile, Magic Eden data shows secondary market values starting at just over 200 SOL, or $4,375.

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