Purchase more LAND for DAO

Background

An opportunity has presented itself for the DAO to purchase 400 - 700 parcels of LAND from Vegas City adjacent to the 403 parcels that the DAO owns today. The maximum spend would be $1.5M.

Vegas City is offering a special price which they would not offer another party and will not be on the table forever as demand for LAND continues to ramp up. Final price and LAND quantity are under negotiation, but we expect to get a good deal for all parties based on our ongoing partnership with Vegas City on projects like the Atari Casino and the Flamingos Casino.

Proposal

Purchase this LAND using:

• $750K $DG from the Ecosystem Fund
• $200K from the Team
• $150K from the DAI-yield Treasury
• $400K from the Gameplay Treasury

We would pull funds in this order, so, if the final price were $1.4M, only $300K would be used from the GamePlay Treasury, for example.

Rationale

By buying in bulk, the DAO is getting a good deal on LAND given the average LAND price/parcel at the time of writing is ~$7K. The deal is particularly beneficial for the DAO given $950K is coming from Team / EF Funds. While this deal will deplete a significant portion of the Gameplay Treasury and all of the DAI-yield Treasury, we can grow these back to today’s levels fairly quickly, and this is a deal that’s presenting itself to the DAO today and may not exist in the future.