{"id":633318,"date":"2023-04-21T19:57:47","date_gmt":"2023-04-22T00:57:47","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/21\/solana-monkey-business-nft-holders-purchase-project-rights\/"},"modified":"2023-04-21T19:57:47","modified_gmt":"2023-04-22T00:57:47","slug":"solana-monkey-business-nft-holders-purchase-project-rights","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/21\/solana-monkey-business-nft-holders-purchase-project-rights\/","title":{"rendered":"Solana Monkey Business NFT Holders Purchase Project Rights"},"content":{"rendered":"<div id=\"page\">\n<div id=\"content_box\">\n<header>\n<div>\n<p><img loading=\"lazy\" alt src=\"https:\/\/secure.gravatar.com\/avatar\/88a6334e954018f0dfcc0c926ce81eae?s=32&#038;d=mm&#038;r=g\"  height=\"32\" width=\"32\" decoding=\"async\"><\/p>\n<p><span><span>By <a href=\"https:\/\/fullycrypto.com\/author\/phi_ma\" title=\"Posts by Philip Maina\" rel=\"author\">Philip Maina<\/a><\/span><\/span><\/p>\n<p><span><\/p>\n<p>13 hours ago<span>Fri Apr 21 2023 11:29:11<\/span><\/p>\n<p><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/header>\n<p><img loading=\"lazy\" width=\"1300\" height=\"890\" src=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2023\/04\/Solana-Monkey-Business-NFT-Holders-Purchase-Project-Rights.png\" alt=\"Solana-Monkey-Business-NFT-Holders-Purchase-Project-Rights\" decoding=\"async\" title data-layzr=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2023\/04\/Solana-Monkey-Business-NFT-Holders-Purchase-Project-Rights.png\">\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<div>\n<p><span><span>Reading Time: <\/span> <span>2<\/span> <span>minutes<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span>The holders of Solana Monkey Business NFTs have acquired the project\u2019s IP rights<\/span><\/li>\n<li aria-level=\"1\"><span>Holders of SMB NFTs will manage the collection through a DAO called MonkeDAO<\/span><\/li>\n<li aria-level=\"1\"><span>SMB was previously owned by NFT exchange Hadeswap which had acquired it in February<\/span><\/li>\n<\/ul>\n<p><span>The holders of Solana Monkey Business (SMB) <\/span><a href=\"https:\/\/fullycrypto.com\/nfts-a-beginners-guide-to-non-fungible-tokens\"><span>NFTs <\/span><\/a><span>have acquired the project\u2019s intellectual property rights from <\/span><a href=\"https:\/\/fullycrypto.com\/hadeswap-acquires-rights-to-solana-monkey-business-nft-project\"><span>NFT exchange Hadeswap which acquired it in February<\/span><\/a><span>. SMB NFT holders will manage the collection through a decentralized autonomous organization (<\/span><a href=\"https:\/\/fullycrypto.com\/what-is-a-dao-a-beginners-guide\"><span>DAO<\/span><\/a><span>) called MonkeDAO. MonkeDAO acquired everything related to the NFT project for $2 million with 97% of the HadesDAO members approving the purchase although it\u2019s unclear how much Hadeswap had paid for the project.<\/span><\/p>\n<h2><span>The End of a Long Struggle<\/span><\/h2>\n<p><span>According to MonkeDAO\u2019s pseudonymous co-founder Nom, the acquisition presents a chance for the project\u2019s NFT holders to showcase their leadership qualities. The DAO touted the feat as the end of a long struggle to take ownership of the project. In February, for example, MonkeDAO attempted but failed to snatch the acquisition deal from Hadeswap.<\/span><\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">8\/ I didn\u2019t want to get a ton of parties involved as they all want different terms &#038; things get messy and slow. The <a href=\"https:\/\/twitter.com\/GalacticGeckoSG?ref_src=twsrc%5Etfw\">@GalacticGeckoSG<\/a> were generously offering to chip in, for that I am super appreciative. ????<\/p>\n<p>I offered <a href=\"https:\/\/twitter.com\/MonkeDAO?ref_src=twsrc%5Etfw\">@MonkeDAO<\/a> $1M bridge loan, 0% interest. Paid back post mint. <a href=\"https:\/\/t.co\/Ml6T5Giu9l\">pic.twitter.com\/Ml6T5Giu9l<\/a><\/p>\n<p>\u2014 S\u25ceL Big Brain (@SOLBigBrain) <a href=\"https:\/\/twitter.com\/SOLBigBrain\/status\/1645830561972252672?ref_src=twsrc%5Etfw\">April 11, 2023<\/a><\/p>\n<\/blockquote>\n<p><span>MonkeDAO initially promoted the project voluntarily before disagreements between its creators arose causing the DAO to ask for a share of royalties. After some negotiations, they reached a funding deal.<\/span><\/p>\n<p><span>However, there seemed to be tension between Hadeswap and MonkeDAO after the February acquisition causing Hadeswap to consider relinquishing the project\u2019s ownership to MonkeDAO. According to an NFT whale known on Twitter as SOL Big Brain, Hadeswap\u2019s founder pseudonymously known as HGE feared that a disagreement would take \u201cmonths\u201d to resolve.<\/span><\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">4\/ A 30 minute conversation later and some venting from both sides as well as trying to come to a common ground and REALLY understand the wants from both sides.<\/p>\n<p>The main point made was..<a href=\"https:\/\/twitter.com\/HGESOL?ref_src=twsrc%5Etfw\">@HGESOL<\/a> did not want whatever to happen to drag on for months upon months with <a href=\"https:\/\/twitter.com\/MonkeDAO?ref_src=twsrc%5Etfw\">@MonkeDAO<\/a><\/p>\n<p>\u2014 S\u25ceL Big Brain (@SOLBigBrain) <a href=\"https:\/\/twitter.com\/SOLBigBrain\/status\/1645830531970375680?ref_src=twsrc%5Etfw\">April 11, 2023<\/a><\/p>\n<\/blockquote>\n<h2><span>SMB is in Good Hands<\/span><\/h2>\n<p><span>The whale revealed that he provided $1 million to aid in the acquisition. According to Nom, the NFT project is in good hands since MonkeDAO is made up of developers, builders and other important players across the Solana <\/span><a href=\"https:\/\/fullycrypto.com\/blockchain-news\"><span>blockchain<\/span><\/a><span>.<\/span><\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">8\/ I didn\u2019t want to get a ton of parties involved as they all want different terms &#038; things get messy and slow. The <a href=\"https:\/\/twitter.com\/GalacticGeckoSG?ref_src=twsrc%5Etfw\">@GalacticGeckoSG<\/a> were generously offering to chip in, for that I am super appreciative. ????<\/p>\n<p>I offered <a href=\"https:\/\/twitter.com\/MonkeDAO?ref_src=twsrc%5Etfw\">@MonkeDAO<\/a> $1M bridge loan, 0% interest. Paid back post mint. <a href=\"https:\/\/t.co\/Ml6T5Giu9l\">pic.twitter.com\/Ml6T5Giu9l<\/a><\/p>\n<p>\u2014 S\u25ceL Big Brain (@SOLBigBrain) <a href=\"https:\/\/twitter.com\/SOLBigBrain\/status\/1645830561972252672?ref_src=twsrc%5Etfw\">April 11, 2023<\/a><\/p>\n<\/blockquote>\n<p><span>Nom added that they\u2019re dedicated to expanding the project and improving the experience for SMB NFT holders. With MonkeDAO finally on the steering wheel, it\u2019s yet to be seen what they\u2019ll do differently.<\/span><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/fullycrypto.com\/solana-monkey-business-nft-holders-purchase-project-rights?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=solana-monkey-business-nft-holders-purchase-project-rights\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Philip Maina<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Philip Maina13 hours agoFri Apr 21 2023 11:29:11 Reading Time: 2 minutes The holders of Solana Monkey Business NFTs have acquired the project\u2019s IP rights Holders of SMB NFTs will manage the collection through a DAO called MonkeDAO SMB was previously owned by NFT exchange Hadeswap which had acquired it in February The holders<\/p>\n","protected":false},"author":1,"featured_media":633319,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1905,47657],"tags":[],"class_list":{"0":"post-633318","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-monkey","8":"category-solana"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/633318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=633318"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/633318\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/633319"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=633318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=633318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=633318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}