Sell Some Additional Decentraland LAND; Buy $BAG

Background

This follows the 2023 Proposal to 'Sell up to 246 Parcels of LAND;' we successfully sold those highlighted parcels of Decentraland LAND. We still hold > 750 LANDs that are worth ~0.1 ETH each (see: OpenSea). Other than Tominoya and ICE CITY, we are not making productive use of this LAND. See Map below.

Proposal

Give the team discretion to sell Treasury LAND that land is not being used productively; defer to the team on the tranches of LAND to prioritize and timing to spread out sales. Then, sale proceeds will be periodically converted to $BAG.

Rationale

Given Decentraland’s declining player numbers, we do not expect the demand for LAND to increase. We do not know the future price of LAND, but we do know the LAND in the DAO is primarily dormant capital.

As in the unanimously passed Proposal to 'Sell Neo Tokyo Citizen; Buy $BAG,' we’ll buy $BAG with these proceeds because, with bag.win weekly profits near all time highs, it’s an opportunity to remove some from circulation near all time lows.

Map