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HadesDAO Allows MonkeDAO to Purchase SMB IP for $2 Million

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On April 14th, HadesDAO passed a proposal on Thursday to allow MonkeDAO to purchase Solana Monkey Business (SMB) intellectual property (IP) for $2 million USD, including \”all right

HadesDAO Allows MonkeDAO to Purchase SMB IP for $2 Million

On April 14th, HadesDAO passed a proposal on Thursday to allow MonkeDAO to purchase Solana Monkey Business (SMB) intellectual property (IP) for $2 million USD, including “all rights, assets, accounts, and keys of HadesDAO”. According to the proposal, this includes any legal registration of the brand, SMB website code, ownership of SMB Twitter and Discord channels, etc. The proposal states that “MonkeDAO believes that all holders of the SMB project and the SMB Gen2 NFT will benefit from this acquisition, and HadesDAO will benefit more from its funding rather than maintaining ownership of the SMB project

MonkeDAO plans to purchase all IPs in the series from HadesDAO for $2 million

Introduction

On April 14th, HadesDAO passed a proposal allowing MonkeDAO to purchase Solana Monkey Business (SMB) intellectual property (IP) for $2 million USD.

What is SMB?

Solana Monkey Business (SMB) is a collection of generative NFTs that were launched in January 2022. The collection consists of 20,000 unique monkeys, each with its own set of characteristics and traits. These NFTs have become increasingly popular among collectors, with some of the rarest monkeys selling for tens of thousands of dollars.

Details of the Proposal

HadesDAO, the current owner of the SMB IP, passed a proposal allowing MonkeDAO to purchase all rights, assets, accounts, and keys of HadesDAO related to the SMB project. This includes any legal registration of the brand, SMB website code, ownership of SMB Twitter and Discord channels, etc.
According to the proposal, MonkeDAO believes that all holders of the SMB project and the SMB Gen2 NFT will benefit from this acquisition, and HadesDAO will benefit more from its funding rather than maintaining ownership of the SMB project.

Implications of the Purchase

This purchase has significant implications for the SMB project. MonkeDAO is a well-established and respected community in the NFT space, with a track record of successfully launching and managing NFT projects. This acquisition will likely bring new ideas and innovation to the SMB project, as well as a larger community to support it.
Additionally, this sale shows the increasing importance of IP in the NFT space. As NFT projects become more valuable, the ownership and control of their IP become crucial. This sale demonstrates that IP is a valuable asset in the NFT space and can be bought and sold like any other asset.

Conclusion

Overall, the sale of the SMB IP to MonkeDAO is a significant development in the NFT space. It shows the importance of IP and the value of well-established communities in the management and growth of NFT projects. This acquisition is likely to lead to a more innovative and diverse SMB project, with greater community support.
# FAQs
1. What is HadesDAO?
HadesDAO is a decentralized autonomous organization that invests in and manages various blockchain projects and assets.
2. Who is MonkeDAO?
MonkeDAO is a decentralized autonomous organization that focuses on launching and managing NFT projects on the Solana blockchain.
3. What is SMB?
SMB is a collection of generative NFTs launched on the Solana blockchain in January 2022.

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