The Solana blockchain’s MonkeDAO has announced plans to purchase the rights to the well-known Solana Monkey Business NFT collection.
Solana Monkey Business NFT Rights Will be Purchased by MonkeDAO for $2 Million
Ariel Givner, a MonkeDAO legal, announced the news in a tweet on her personal Twitter account.
Launched in June 2021 and followed by the release of its “Gen2” version in August of that same year, the collection of 5,000 pixelated monkeys quickly gained appeal in the NFT market. On Thursday, a request was approved by HadesDAO, who bought SMB from its original creators in February and promised to uphold the project’s heritage.
This would permit the platform to acquire the SMB intellectual property (IP) for $2 million USDC. All of the SMB brand’s legal registrations, ownership of its Twitter and Discord channels, and the code, accounts, and keys for its website are all included in the agreement.
About MonkeDAO
A video about the platform was recently released. You can watch the video by clicking this link: https://www.youtube.com/watch?v=EdFINIpgZnM
On the other hand, all SMB Gen2 NFT holders would profit from the acquisition, according to the platform, which stated that “HadesDAO will benefit more from money in its treasury rather than maintaining ownership of the SMB project.” On Twitter, the announcement has received enthusiastic feedback, with several users dubbing it a “historic” decision.
Importance of Purchasing
A notable development in the Solana NFT arena is the platform’s acquisition of the SMB collecting rights, which highlights the growing significance of DAOs in the ecosystem. It also highlights the increased interest in NFT collections, which are valued and sought after by both investors and collectors.
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