SolPunksDAO Secures Historic Royalty Deal On Solanart & MagicEden

SolPunksDAO — the SolPunks hodlers’ collective on Twitter — is projected to become the most successful community-driven DAO on Solana by 2022 following the SolPunks royalty deal it recently closed on Solanart and MagicEden. With SolPunks frequently ranked in Solanart’s top 5–8 collections, the SolPunksDAO’s wallet is expected to swell hugely by Q1 2022 and SolPunks hodlers are expected to vote on the allocation of the royalties.

After several months of a passive anti-SolPunks hostility stalemating the negotiation, the breakthrough finally came on Boxing day with a tweet and a pinned announcement on Discord that saw the entire SolPunks community feeling more bullish than ever.

According to the terms of the deal, 3% of invidual SolPunks sales on Solanart and MagicEden will be paid into the SolPunksDAO’ s trust wallet while the remaining 2%, of the total 5% royalty, will go to Solanart, a sharing formula famous SolPunks hodler NFTmoon categorically described as a ‘win-win”.

Declining to comment on how the royalties will be allocated, popular DAO ape Walker Hebborn.sol hinted that they are a special fund for the progressive development of SolPunks across the solana ecosytem: “ This is such an amazing news for us as a newly formed DAO. It finally gives us access to some funds to help push the brand forward in the direction the community wants. It is also an incredibly bullish news for SolPunks. We as a community have been working so hard to keep us visible and relevant in such fast paced spaced and it is finally paying off”.

Meanwhile, a former SolPunks investor Holger Danske recently commented that Solanart was unentitled to a 2% sharing formula citing the poor public relations image and the possible undermining of SolPunks potentials by some grudge-bearing developers.

Are SolPunks More Bullish Than Ever?

On the heels of the announcement , SolPunksDAO membership on Twitter increased by 30% , while SolPunks NFT made it to Solanart’s top 5 collections by sales volumes with massive punk sales. Now, this, according to the famed SolPunks alien Tractor, is SolPunks chapter II!

A fast growing DAO and a jump in sales volume can be a vital sign of a bullish 2022 for the SolPunks chapter II, but the lesson that the brave new world of the blockchain technology has taught its shrewd investors is that it is not Aladin’s magic lamp capable of granting the most mundane of all wishes.

Notwithstanding, the bullish feeling can be likened to the FOMO that hit the SolPunks community in the early days and it is believed to be the only way to ensure that the confidence in SolPunks’ vision is further boltered and not shredded. Hence, a dedicated hodler doing the Twitter shilling on a daily basis and a sales-bot update are believed to be critical to the progress of the community.

“The Royalties Will Not Be Backdated Sadly..”

The mind-boggling question of whether SolPunks royalties can be backdated has recently been answered in the negative by leading SolPunks ape Walker Hebborn.sol.

“The royalties will not be backdated sadly”, Walker recently told POSTR.

However, the question has continued to shine spotlight on the fact that the 3% of the total sum of 415,600 SOL ($78 million USD)in SolPunks sales volume would have fetched the SolPunksDAO roughly $2.5 million in backdated royalties at the time the deal was closed.

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About the author

Avatar of Olayimika Oyebanji

Olayimika Oyebanji

Olayimika Oyebanji is a seasoned blockchain journalist and a DAO consultant. He is an honorary member of Ukraine DAO and a core contributor to Moon DAO. In August, he joined America's first affordable housing DAO as a core contributor and has brokered its strategic partnership with DAOHQ.

He has a wide ranging experience in the crypto space and he holds a record for being the first African lawyer to draft a web 3 constitution. He has published several articles on Hackernoon where he's currently an intern and a contributing writer.

He is actively involved in many web 3 crypto communities,namely: Solpunks (Solana), Insydin, Modernists, ArabPunkz, Brickken, Fractally, Real Pyramid Scheme, Storyverse, Asknights, Stoner DAO, Domain DAO, Space Plus NFT, Corpernic Space, Direct Aid Ukraine, Cordial World, Physix, etc.

His hobbies are reading, traveling and writing.


Key achievements:
1. Nominee of The Internet 2.0 Outstanding Leadership Award(Las Vegas)
2. Nominee of Hackernoon's contributor of the year (DAO)
3. Nominee of Hackernoon's contributor of the year ( The Future of finance)
,4. Nominee of Hackernoon's contributor of the year ( Funding)

His main contribution to SolPunks NFT is chronicling its history from its origin and as it unfolds. In December of 2021, the SolPunks council gifted me SolPunks#9198(Bandana & 3D glasses)for publishing the first known series of articles about SolPunks on YRUZ and Substack. I live in Ibadan, Nigeria, and my hobbies are reading, traveling and meditating.

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