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FlamingoDAO NFT Portfolio Valuation Touches $1B

Written by James Smith

FlamingoDAO’s non-fungible token (NFT) portfolio is now price an estimated $1 billion, DAO’s members and experiences from Forbes confirmed. - 2022-02-11T122628.093.jpg

FlamingoDAO now has a set of 215 CryptoPunks, 22 Bored Apes, 246 Chromie Squiggles, 371 Cryptoblots, 5 Autoglyphs and a number of other different bespoke NFTs, generally known as 1/1s (“considered one of ones”).

These NFTs will be cross-checked utilizing blockchain information that traces again to FlamingoDAO pockets addresses.

FlamingoDAO – one of the vital unique decentralised autonomous organisations – at its inception in October 2020, collected 60 ETH from every member (roughly $23,000 on the time). Nonetheless, new members are actually shopping for at 3,000 ETH or about $8 million.

In accordance with its website, FlamingoDAO stated that it goals to “give its members the flexibility to develop and deploy NFT-focused funding methods.”

A decentralised autonomous organisation (DAO) is an organisation represented by guidelines encoded as a clear laptop program, managed by the organisation members and never influenced by exterior entities.

FlamingoDAO has already collected a sum of seven,920 ETHs from its members and used it to purchase a few of the rarest and most respected NFTs.

Attributable to its astronomical rise in worth, entries for brand new members has develop into extra demanding.

FlamingoDAO stated that at first, membership for the DAO was supplied on a first-come, first-serve foundation. Nonetheless, now, potential members should get invited in by an present member or acquire entry by means of involvement with considered one of Flamingo’s sister DAOs, which incorporates The LAO, the DeFi-focused NeptuneDAO, music-focused NoiseDAO or metaverse-focused NeonDAO.

The DAO describes its members as a mixture of merchants, builders, artists and builders. Additionally, as Flamingo’s success has despatched its buy-in value skyrocketing, membership has more and more attracted the eye of funding funds.

Nonetheless, membership for FlamingoDAO at anyone time is capped at 100 members.

In one of many largest latest DAO’s, a bunch named the ConstitutionDAO failed to win a bid for the printed copy of the U.S. Structure at a Sotheby’s public public sale, Blockchain.News reported on November 19, 2021.

The bid was won by Ken Griffin, the founder and CEO of hedge fund firm Citadel LLC, on November 18, 2021.

Previous to the Sotheby’s public public sale, the ConstitutionDAO group had raised greater than $40 million in Ethereum in per week by means of the discord social platform.

Exactly, the organisation had raised a complete of $47 million price of Ether from greater than 17,000 Ethereum wallets. The organisation claimed they “broke information for essentially the most cash crowdfunded in lower than 72 hours.”

Picture supply: Shutterstock

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James Smith

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