Otherdeed Metaverse Embassy vote

Establishing ourselves in as many Metaverse platforms as possible has always been a core tenant of Fat Cats. We can debate endlessly on whether Metaverses are a good investment financially speaking however there is little doubt that socially speaking they are essentially the Web3 public square. Just like we use Twitter to broadcast our message and grow our brand so to us being able to integrate Fat Cats into as many platforms as possible will keep eyes constantly on us.

We lucked out very early on with our partnerships as many of them afforded us the ability to get Embassies as gifts; like in the case of TCG World who donated a gold farm to the DAO, through alliances like in the case with Cosa Nostra who will give us access to their land in Mobland or via bulk pricing discussions with groups like Council of Kings who will be able to give us embassies in prime locations for an affordable rent price. We also as tomorrow's announcement will show; were able to get a massive and stunning Embassy in NFT Worlds from Meets Meta!

This leaves one notable exception, The Otherside. Yuga Labs is the king maker in the NFT Space and if their track record is anything to go by, Otherside will likely be done to a high standard and also will likely attract a large number of NFT holders and communities to it. Critical mass of active users is vital for social Metaverse platforms. In addition to that Yuga Labs have pretty much always tied their perks to their apes and so with so much chatter about Bored Ape staking going on it makes sense for us to consider the fact we already own a BAYC & MAYC.

The price of Otherside deeds has come right down; especially the non floor ones. This is important to us as the land is set up in five segments (rings as shown on the images attached to the post). Dylan was able to secure number #1118 Biogenic Swamp for 5.25 ETH (a bit less than two times the floor ones). #1118 as the image shows is very close to the central hub where the actual Bored Ape Yacht Club resides. Due to the timely nature of buying such a cool one at a good price (most others that close are north of 7 ETH), Dylan fronted the funds and should the DAO vote no to purchase the land he is happy to keep it for himself. Having our embassy in a Bored Ape designed land so close to the center is bound to serve our branding goals. The parcel also has a nice amount of resources relative to its price and location.

It is worth noting that this fund has always favored blue chip NFT brands over games and metaverse platforms. Games because we have a sister DAO focused on that, Crown Capital and Metaverse platforms because we consider them to be potentially high reward but also higher risk as there is a lot of competition among providers for the same modest group of users aka the NFT & Web3 communities.

Some have expressed their desire to wait given market conditions. Some are of the stance that lands this close to the Bored Ape Yacht Club center have usually been in the 15-20 ETH range and given how much ETH is down and the inverse relationship at times between NFTs & ETH that now is the right time to grab it.

In addition location matters in MMORPGs and places like Second Life. Central hubs are where all the foot traffic is and we can expect a lot of exposure for our brand based on our location.

(Please see the notice for the attached images)