PleasrDAO ✨- the nexus of community ownership, DeFi & art.
The story of the most innovative collector DAO in the industry and the value-creation powerhouse that this community has become.
An army of top leaders & builders in both DeFi & NFTs, cementing their position as one of the most powerful communities collecting pieces that represent major cornerstones of NFT & internet culture. PleasrDAO is a power symbol at the nexus of community ownership, DeFi & culturally significant art. I’m articulating their story, the growth so far, the leadership & how they bridge into the physical world.
The story ✨
The beginning of PleasrDAO was in the early 2021, which started for the iconic NFT piece called “x*y=k” by pplpleasr, an OG DeFi artist who rose to fame among the crypto community for her iconic artworks for Aave, Sushiswap, Uniswap, Yearn & more.
It symbolises a revolution. It is the automated market equation first used by Uniswap. It was a code that replaced archaic financial institutions by creating a liquidity pool model in the DEX project; it was revolutionary at the time. This was the genesis NFT created to celebrate the Uniswap V3’s as an ad “x*y=k” along with the possibilities of what could be built on top of DeFi. The art is remarkably well-thought, the proceeds were to be donated to charities as part of #StandWithAsians movement & was listed on Foundation for auction - this begins the story of PleasrDAO with this single tweet.
pplpleasr @pplpleasr1My genesis piece on @withFND, the @Uniswap animation will drop Friday 9am (Asia time) This Friday, March 26 is the #StandWithAsians movement - Uniswap and I will be donating all proceeds to charities supporting AAPI and other minority representation. https://t.co/OMvO8IlzCE https://t.co/6REHwawYzY
As quoted in one of the blogs by the DAO, “it was an action-packed Friday night. Many peeps were out at bars and restaurants or half asleep late in Asia, watching as notable individuals from the crypto world continued to join the Telegram group, one after another. We recruited many of the top bidders to join forces. There was no plan in place other than: we need this piece. Although the path beyond was uncertain, it was clear something special was brewing.” The DAOs mission (unchanged) was to collect, curate & commission art with a cause.
The auction ends at 310 ETH (a whopping $525,000 at the time), Foundation’s most expensive sale for a female artist up to that date. The members of the DAO deploy a token & distributed $PEEPS pro-rata as a representation of their share of the ownership to those who contributed. PleasrDAO then collectively owned “x*y=k” by forming a shared ethos in an organised community of like-minded individuals.
How the DAO profits ✨
PleasrDAO now experiments with novel concepts in digital & community art ownership. The DAO has evolved & elevated its mission to collect digital art that represents and funds important ideas, movements & causes that have been memorialised on-chain as NFTs. They’ve set a precedent for bidding on unique pieces, many of which have powerful messages that transcend crypto.
The Doge NFT
Unless you were off the entire internet all through last year, you definitely have seen & most probably know how “doge” that just started off as an internet meme became a cultural phenomenon and an enduring piece of art. It was easily the most loved meme of the decade on the internet.
In June 2021, Atsuko Sato, the owner of the famous Shiba Inu (who goes by the name “Kabosu”) minted the original photo as a rare 1 out of 1 original piece that pays tribute to the whole “Doge phenomenon”, the art was sold by a record-breaking price of 1696 ETH (a whopping $5.5 Million) to PleasrDAO.
The team has a track record of creating robust communities and significant return on investment from the art they have collected. The team is rapidly expanding and plans to fractionalise many other pieces of digital art and build communities around them. If they keep replicating this ROI on some or most of their NFT pieces in their collection, the treasury could quickly balloon in value. Here’s the details on their return on investment with just the Doge NFT:
Bought the Doge NFT in June 2021 for $4M
Fractionalised on 1st September, 2021; Sold just 20% of the total supply to the community at a whopping $44M USD
Current holders: 8,045 (not including holders on CEXs)
You can checkout more NFTs from their collection here.
Once upon a time in Shaolin - A historic piece of physical music as NFT
Single copy of Wu-Tang Clan’s unreleased album, “Once upon a time in Shaolin” is a historic piece of physical music on earth. The two-CD, 31 track album was conceptualised & then produced by Cilvaringz alongside RZA in secret over the course of six years starting in 2007 and includes every member of the Wu-Tang Clan, sans Ol’ Dirty Bastard who died in 2004. Once completed, they pressed a single copy to be encased in a leather covered box with an interior nickel/silver-plated “box-within-a-box-within-a-box” made by British-Moroccan artist Yahya. Ownership of this monument is accompanied by strict legal repercussions against any improper digitization and/or distribution of the work.
Long story short, a prominent internet fraud anonymously buys the album anonymously at auction in 2015 for $2 million - making it the most expensive work of music ever sold. This was then recovered by court when his assets were forfeited & it sat in a temperature controlled vault of the department of justice.
Let’s quickly talk about what makes this so valuable in the context of web3, making it truly historic if turned into an NFT. Wu-Tang clan is the OG DAO: a collective formed to reach beyond limits of any single individual to fulfil a higher purpose of creating an album that record labels and distributors could not monetize. A protest against middleman overlords was prescient of the problems with the web 2.0 streaming era, an industry that profits by standing between artist & fan, syphoning off profits and leaving creatives hanging out to dry. This became the symbolism of a fight to stand up against the establishment i.e middlemen.
This album was a physical 1:1 original NFT before NFT technology, nearly a decade later with the technology and the ability to mint it as a 1:1 original NFT, now gets the ability to be fractionalized and distributed for the world to listen to, whilst preserving the value eternally. PleasrDAO added this OG NFT to its collection for $4 million, with plans of rightfully re-distributing it by fractionalizing ownership.
You can check more NFT pieces from PleasrDAO’s collection of NFTs here because it only keeps getting interesting.
A glimpse into the PleasrDAO leadership ✨
You can keep hitting the follow button on twitter as you go to keep connected with the best people at PleasrDAO!
Jamis Johnson - Chief Pleasing Officer
Former neural networks engineer and Ethereum crowdsale participant. Formed PleasrDAO the night of the Uniswap v3 x*y=k auction.
Juan Dulanto - Head of Operations
Former VC at 500 Startups and founder/COO of a Series A VC backed startup.
Matt Condon - Head of Development
one of the many matts is a conceptual artist, NFT OG, and applied crypto technologist. He's maintained OpenZeppelin and helped draft and audit ERC721 and ERC1155. He also has a chip in his hand that dispenses NFTs.
Matt Matkov - Head of Legal
Former General Counsel and VP of Licensing and Operations for Kobe Bryant.
Steve Hopenhayn - Head of Finance
Finance veteran with over 18 yrs of experience in VC funded startups where he raised over $40M. He first started using excel when it was called Lotus123 on a 80386DX 33MHz w/4MB RAM (circa 1990).
Tridog - Head of $DOG Pod
Built/sold 2 startups. VC-ed $30M & built 10 accelerators from SF to Riyadh. Wearing Doodles 2579. Meme member: InkDAO, JokesDAO, TweetDAO
Keyon Christ - Head at The DAO of Wu
Lead Visionary at the DAO of Wu and @ghostwavedao the first quantum computer based neural synthesizer for sound. Prodigy producer for Kanye, Rihanna. Creator of the first AI generated hip-hop NFT.
Spencer Harrison - Head of Design
Visual and Aural Composer. Musician turned Product Designer turned Web3 experiential architect. Coordinating the Wu-Tang Album rollout and leading brand vision for PleasrDAO. Here to deepen the way people understand and interact with art and cultural objects today and in 2103.
Matt Bunday - Sr. Engineer (development team)
Cofounder and lead engineer at UkraineDAO, OG ETH validator operator, 2x startup CTO, Xoogler.
Benjamin Zweig - UI/UX
Ex-Instagram/Messenger. Twitch's youngest-ever design hire, now old enough to have learned a thing or two. Eternal tinkerer, committed generalist, tortured perfectionist, designing the net we wish we had.
Zona - $DOG Community Lead
Crypto dogenerate since 2016, meme appreciator for a lot longer. Past life was in investment advisory for Private Equity/Hedge Funds and UHNW individuals.
A16z, Dragonfly Capital, Mechanism Capital, Mapleleaf Capital, Variant, Andy8052 (fractional), Tarun Chitra, Stani (Aave), Darren and Daryl Lau, Mariano Conti, Robert Leshner, Su Zhu, and many more.
PleasrDAO also just raised $6M from BitDAO, with a 100% votes in favour of the proposal to invest from the BitDAO members. PleasrDAO was expecting to close a $69 million fundraise from external investors in February.
The future of collector DAOs ✨
NFTs encompass rich digital art, collectibles, in-game assets and other tangible assets which are the new forms of digital property poised to play an increasing role in helping to create, monetise and incentivise online digital content. In short, they could be net high return digital assets if collected well. DAOs are the embodiment of self-governing multi-user teams globally, from the smallest sizes to the largest that can collaboratively work towards a shared vision. The amalgamation of these two very prominent web3 phenomenon gives birth to the class of collector DAOs.
We’re going to see DAOs collecting rare pieces in categories like comics, music, art, metaverse, movies etc. that can be fractionalised or combined into token sets, used as collateral for lending and stablecoin protocols or displayed in a digital art gallery depending on the direction that the members of the DAO mutually decides. The members decide what is valuable to own and what is to be done with the valuable collectible. As collaboration, governance & flexibility issues with DAOs are fixed, we’re going to see the birth of many more people-groups turn into value-creating powerhouses like PleasrDAO working towards different goals.
Closing thoughts ✨
Art & collector DAOs are a part of the bigger revolution that is the disruption in the digital collectibles space. Rare pieces of history as NFTs which could be symbolic, culturally rich or likewise will be collected by individuals, like they always have been with physical collectibles. But PleasrDAO has put us at the forefront of what multi-user collaboration can do. A DAO might be able to bid higher than many at individual capacity, any day. The team is rapidly expanding and plans to fractionalise many other pieces of digital art and build communities around them, thus providing exposure to a premier project in the Art/NFT category. We expect to see a lot of the best upcoming art as an asset class which will be discovered, owned and preserved by people communities like DAOs in the near decentralised future, by leaders who will seek inspiration from a collective like PleasrDAO. I personally would’ve wished to read the details of the proposals being raised within the DAO on snapshot but most of them just say ‘deets on TG/discord’ so that’s a bummer.
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