BPIP#5: Proposal for the sale of Blackpool DAO assets

Proposal to Sell BlackPool DAO Treasury Assets for Liquidation

Abstract This proposal aims to enable the sale of NFT gaming assets and token allocations currently held in BlackPool DAO treasury. The purpose of this sale is to reduce risk exposure in a challenging NFT market by converting low value and non managed assets back to more liquid currency. By approving this proposal, the DAO community will enable the treasury to allocate resources in a manner that better aligns with the project's strategic objectives and risk tolerance.

Motivation The treasury currently holds numerous NFT gaming assets and token allocations across over a dozen projects, which at one time seem to have high potential. However, in the current market conditions and in alignment with the DAO's strategic objectives, it seems that the most prudent course of action is to liquidate these positions. Holding a majority of treasury assets exposes the DAO to risk from price fluctuations and limits liquidity. Selling a portion of these holdings allows for diversification of holdings and secures a stable currency for operating expenses to achieve the DAO’s strategic goals. By implementing this sale/diversification, the DAO can achieve a more stable financial position, balancing the need for future growth with responsible risk management.

Execution and Transparency

BlackPool DAO commits to executing all necessary actions to enable and manage the planned sales with the primary objective of maximizing value for DAO holders. All transactions related to this initiative will be conducted with the best intentions to secure optimal returns for the DAO community.

To ensure accountability and full transparency, every transaction, besides of being public on-chain, will be meticulously documented. A final comprehensive report will be made available to DAO members upon the conclusion of the activity. This report will include a detailed breakdown of all executed transactions, the strategic rationale behind each, and a summary of the results achieved. This approach reaffirms BlackPool DAO's dedication to maintaining the highest standards of transparency and alignment with the interests of DAO holders.

Proposal Details:

Asset(s) to be Sold:

1. Sorare

   • OTC, illiquid;
   • Action: Discuss M&A options and sale strategies

2. BigTime

   • Marketable, OTC;
   • Action: Market sell and identify OTC buyers

3. Guild of Guardians

   • Illiquid, OTC;
   • Action: Transfer to multisig, explore market/OTC sale

4. Influence

   • Illiquid, OTC;
   • Action: Identify OTC buyer, evaluate current offer

5. MetaFight

   • Illiquid, OTC;
   • Action: Market sell and explore OTC

6. Realms

   • Marketable, OTC;
   • Action: Market sell and explore OTC

7. Immortal Chess Game

   • No liquidity; Not actionable
   • Action: Schedule meeting with Immortal team

8. Chibi Clash Token

   • Vesting; Transferability TBD
   • Action: Check transfer options, consult team

9. Footium Equity

   • Marketable, OTC;
   • Action: Investigate OTC potential

10. Unbound Token

    • No liquidity; Not actionable
    • Action: Follow up with project team

11. Cross the Ages Token

    • Vesting;
    • Action: Confirm contract/vesting details

12. Everai

    • Illiquid, OTC;
    • Action: Market sell and explore OTC

13. Axie

    • Illiquid, OTC;
    • Action: Attempt market sell, check access, consider write-off

14. Cometh

    • Illiquid, OTC;
    • Action: Market sell and explore OTC

15. Footium

    • Marketable, OTC;
    • Action: Market sell, assets already listed

16. Sandbox

    • Marketable, OTC;
    • Action: Market sell, explore OTC

17. Airdrop Farming - ETH

    • Liquid;
    • Action: Update, return funds to treasury

18. USDC - Sol

    • Liquid;
    • Action: Return to DAO treasury in ETH/USDC

19. NFT Art

    • Marketable, OTC;
    • Action: Confirm sale or transfer to DAO wallet

20. Stables

    • Liquid, OTC;
    • Action: Explore market/OTC opportunities

21. CTA Packs

    • Marketable;
    • Action: Consolidate and market sell

22. TinyBones, ChibiClash, Aavagotchi

    • Illiquid, possible write-off; :
    • Action: Confirm wallet details, explore sell/write-off

23. Misc. Assets (Immortal, FanLive, etc.)

    • Illiquid, possible write-off; :
    • Action: Confirm wallet details, explore sell/write-off

24. Magic Vesting

    • Vesting;
    • Action: Claim and enable contract transfer

25. USDC (BigTime)

    • Liquid;
    • Action: Complete KYB, transfer access

Amount or Percentage to Sell: 100% where liquidity allows Target Sale Price (if applicable): Will vary project by project, market sale or otc etc. Expected Timeline: 1-2 months

Allocation of Proceeds:

Funds generated from the asset sale will be securely held in the DAO treasury, ensuring secure and transparent custody to support future BlackPool DAO activities. These funds will not be reallocated to any new strategies or initiatives without first presenting and approving a dedicated governance proposal.

This approach ensures that resources are conserved responsibly for future strategic actions that will align with the DAO's goals, ensuring complete transparency and community input through governance.

Voting Options:

For: Approve the sale of BlackPool DAO treasury assets as detailed in this proposal. Against: Reject the proposal, and no sale of treasury assets will occur. Abstain: Abstain from voting

Implementation Plan:

Upon approval, BlackPool DAO will initiate the sale as specified. Progress and outcomes will be shared with the community, and an update will be provided at the end of the sale period.