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FlamingoDAO NFT Portfolio Valuation Touches $1B

FlamingoDAO’s non-fungible token (NFT) portfolio is now price an estimated $1 billion, DAO’s members and experiences from Forbes confirmed.

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FlamingoDAO now has a set of 215 CryptoPunks, 22 Bored Apes, 246 Chromie Squiggles, 371 Cryptoblots, 5 Autoglyphs and a number of other different bespoke NFTs, referred to as 1/1s (“one of ones”).

These NFTs may be cross-checked utilizing blockchain knowledge that traces again to FlamingoDAO pockets addresses.

FlamingoDAO – some of the unique decentralised autonomous organisations – at its inception in October 2020, collected 60 ETH from every member (roughly $23,000 on the time). However, new members at the moment are shopping for at 3,000 ETH or about $8 million.

According to its web site, FlamingoDAO stated that it goals to “give its members the ability to develop and deploy NFT-focused investment strategies.”

A decentralised autonomous organisation (DAO) is an organisation represented by guidelines encoded as a clear laptop program, managed by the organisation members and never influenced by exterior entities.

FlamingoDAO has already collected a sum of seven,920 ETHs from its members and used it to purchase among the rarest and most precious NFTs.

Due to its astronomical rise in worth, entries for brand spanking new members has grow to be extra demanding.

FlamingoDAO stated that at first, membership for the DAO was offered on a first-come, first-serve foundation. Still, now, potential members need to get invited in by an current member or acquire entry via involvement with considered one of Flamingo’s sister DAOs, which incorporates The LAO, the DeFi-focused NeptuneDAO, music-focused NoiseDAO or metaverse-focused NeonDAO.

The DAO describes its members as a mixture of merchants, builders, artists and builders. Also, as Flamingo’s success has despatched its buy-in price skyrocketing, membership has more and more attracted the eye of funding funds.

However, membership for FlamingoDAO at anybody time is capped at 100 members.

In one of many largest latest DAO’s, a gaggle named the ConstitutionDAO failed to win a bid for the printed copy of the U.S. Constitution at a Sotheby’s public public sale, Blockchain.News reported on November 19, 2021.

The bid was gained by Ken Griffin, the founder and CEO of hedge fund firm Citadel LLC, on November 18, 2021.

Prior to the Sotheby’s public public sale, the ConstitutionDAO group had raised greater than $40 million in Ethereum in per week via the discord social platform.

Precisely, the organisation had raised a complete of $47 million price of Ether from greater than 17,000 Ethereum wallets. The organisation claimed they “broke records for the most money crowdfunded in less than 72 hours.”

Image supply: Shutterstock

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