{"id":6124,"date":"2023-04-18T12:58:00","date_gmt":"2023-04-18T12:58:00","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/04\/18\/monkedao-pays-2-million-for-solana-monkey-business-ip\/"},"modified":"2023-04-18T12:58:00","modified_gmt":"2023-04-18T12:58:00","slug":"monkedao-pays-2-million-for-solana-monkey-business-ip","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/04\/18\/monkedao-pays-2-million-for-solana-monkey-business-ip\/","title":{"rendered":"MonkeDAO Pays $2 Million for Solana Monkey Business IP"},"content":{"rendered":"<p><\/p>\n<div>\n<p>After holding a community vote to approve the purchase, MonkeDAO, a decentralized autonomous organization that manages the Solana Monkey Business (SMB) NFT collection, has bought the project\u2019s intellectual property (IP) for $2 million.<\/p>\n<figure id=\"attachment_19066\" aria-describedby=\"caption-attachment-19066\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-19066 size-full\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2021\/12\/Solana-Monkeys.jpeg\" alt=\"MonkeDAO Pays $2 Million for Solana Monkey Business IP\" width=\"1200\" height=\"800\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2021\/12\/Solana-Monkeys.jpeg 1200w, https:\/\/nftevening.com\/wp-content\/uploads\/2021\/12\/Solana-Monkeys-300x200.jpeg 300w, https:\/\/nftevening.com\/wp-content\/uploads\/2021\/12\/Solana-Monkeys-1024x683.jpeg 1024w, https:\/\/nftevening.com\/wp-content\/uploads\/2021\/12\/Solana-Monkeys-768x512.jpeg 768w, https:\/\/nftevening.com\/wp-content\/uploads\/2021\/12\/Solana-Monkeys-150x100.jpeg 150w, https:\/\/nftevening.com\/wp-content\/uploads\/2021\/12\/Solana-Monkeys-450x300.jpeg 450w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><\/noscript><figcaption id=\"caption-attachment-19066\" class=\"wp-caption-text\">MonkeDAO Pays $2 Million for Solana Monkey Business IP. Credits: SMB<\/figcaption><\/figure>\n<h2><span id=\"MonkeDAO_Acquires_Solana_Monkey_Bussiness_IP_from_Hadeswap\"><strong>MonkeDAO Acquires Solana Monkey Bussiness IP from Hadeswap<\/strong><\/span><\/h2>\n<p>This news was <a href=\"https:\/\/twitter.com\/MonkeDAO\/status\/1646629180551864324\" target=\"_blank\" rel=\"noopener\">announced via a tweet<\/a> on April 14. Sources suggest that MonkeDAO had previous intentions to acquire the Solana Monkey Business project. Still, the founders opted to sell it to Hadeswap, a decentralized trading protocol on Solana, approximately two months prior. Nevertheless, Hadeswap has now elected to transfer the project\u2019s intellectual property to MonkeDAO.<\/p>\n<p>The transfer of SMB\u2019s intellectual property also entails the transfer of all associated rights, assets, accounts, and keys to MonkeDAO. These will come in exchange for 2 million USDC. MonkeDAO will also receive any legal registrations associated with the brand, SMB website code, and social media accounts, including Twitter and Discord. MonkeDAO is of the belief that the acquisition will be advantageous to SMB NFT holders and to the SMB project in general, particularly those holding the SMB Gen2 NFTs.<\/p>\n<h2><span id=\"The_Solana_Monkey_Business_Project_and_its_Popularity\"><strong>The Solana Monkey Business Project and its Popularity<\/strong><\/span><\/h2>\n<p>The Solana Monkey Business (SMB) project rolled out its initial \u201cGen1\u201d collection in June 2021, followed by \u201cGen2\u201d just two months later. The collection comprises of 5,000 pixelated monkeys that have <a href=\"https:\/\/nftevening.com\/solana-monkey-business-nft-sells-for-a-historical-2-million\/\" target=\"_blank\" rel=\"noopener\">gained immense popularity<\/a> amongst collectors. As of the current writing, the collection has amassed over 1.8 million SOL, equivalent to $43 million in trading volume. The floor price for the collection stands at 223 SOL or $5,427.<\/p>\n<p>Upon hearing the news, several experts in the industry expressed their opinions. Some stating that MonkeDAO\u2019s purchase of SMB\u2019s IP will result in a surge in NFT market activity. Furthermore, this acquisition will contribute to the project\u2019s decentralization, as MonkeDAO is a decentralized autonomous organization that will allow the community to manage its operations.<\/p>\n<h2><span id=\"Potential_Impact_of_the_Acquisition_on_the_NFT_Space\"><strong>Potential Impact of the Acquisition on the NFT Space<\/strong><\/span><\/h2>\n<p>HadeDAO, the decentralized autonomous organization that governs the Solana Monkey Business project, passed a proposal indicating that its decision to sell the project\u2019s IP to MonkeDAO primarily focused on maximizing its treasury. As so, the founders of the SMB project will preserve their legacy by selling the IP to MonkeDAO, ensuring that the project remains true to its origins.<\/p>\n<p>According to certain analysts, the purchase of SMB\u2019s IP by MonkeDAO is likely to intensify competition among NFT projects. This could motivate other projects to improve their own intellectual property to maintain a competitive edge. As so, this may help drive innovation and creativity in the NFT industry.<\/p>\n<h2><span id=\"Implications_for_the_Future_of_NFTs\"><strong>Implications for the Future of NFTs<\/strong><\/span><\/h2>\n<p>MonkeDAO\u2019s acquisition of the Solana Monkey Business project\u2019s IP is a significant development in the NFT space. The acquisition may help SMB NFT holders. It may do so by making the project more decentralized. The IP transfer will enable MonkeDAO to govern the project fully. The increased competition that may result from this acquisition could lead to increased creativity and innovation in the NFT space.<\/p>\n<div class=\"bottom-text__subscribe\">\n<div id=\"mlb2-5802138\" class=\"ml-form-embedContainer ml-subscribe-form ml-subscribe-form-5802138\">\n<div class=\"ml-form-align-center\">\n<div class=\"ml-form-embedWrapper embedForm\">\n<div class=\"ml-form-embedBody ml-form-embedBodyHorizontal row-form\">\n<div class=\"ml-form-embedContent\" style=\"\">\n<h4><span id=\"Join_Our_New_To_The_Moon_daily_Newsletter\">Join Our New &#8220;To The Moon&#8221; daily Newsletter<\/span><\/h4>\n<p>Get our free, 5 minutes daily newsletter. 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MonkeDAO Pays $2 Million for Solana Monkey Business IP. Credits: SMB MonkeDAO Acquires Solana Monkey Bussiness IP from Hadeswap This news was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftevening.com\/wp-content\/uploads\/2021\/12\/Solana-Monkeys.jpeg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/6124"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=6124"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/6124\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/6125"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=6124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=6124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=6124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}