Purchase OCMs for the OCM DAO

Proposer: nutter8224 (Discord) Previous Prop that passed: Proposed the Prop House proposal that passed: https://prop.house/onchainmonkey/round-5/1684

The DAO will purchase some NFTs from the various OCM NFT collections to hold in its treasury: Genesis and Karma.

The DAO holding its own OCM NFTs will permit multiple use cases, including, but not limited to:

• being part of the community directly via NFT membership
• sharing in the benefits of membership
• using NFTs for collaborations
• providing NFTs for IP purposes if needed for community projects, e.g., as team mascots
• paying service providers
• using as prizes or awards

This proposal requests 200 ETH from the treasury to buy OCM Genesis and Karma from secondary marketplaces which pay royalty fees, and not OTC. The purchases will be spread over a period of time, and the purchases will not be announced in advance, in order to avoid influencing the price of the collections or trading behavior of market participants. Purchases may be made by collection wETH offers in addition to direct buys. This may result in a mix of fed Genesis, unfed Genesis, Karmas 1 and 2.

The intent is to build up the DAO’s treasury of its own NFTs for its own use over the long term. OCMs owned by the DAO are eligible for any benefits and Missions just as any other OCMs are, and eligible to claim any rewards associated with completing Missions.

The OCM community can submit proposals to the DAO to propose uses for the DAO’s OCM NFTs.

Out of scope for this proposal: purchasing NFTs from non-OCM collections.

As described earlier, there will be minimal resources required besides the requested funds to purchase the NFTs.

There will be 3 community members chosen from current or past OCM Small Grants Committee members to be on the Purchasing Committee. The OCM DAO will fund the Purchasing Committee wallet 10 ETH at a time. The Purchasing Committee will decide when to buy OCM. When the 10 ETH drops to below 2 ETH, another 10 ETH will be funded, until 200 ETH is used.

The Purchasing Committee will only be buying the least expensive Genesis and Karma on the market. The Purchasing Committee will decide on a simple rule to follow for the schedule of purchases, taking feedback from the community, and with the approval of the OCM Small Grants Committee.

The Purchasing Committee are prohibited from using DAO funds to buy their own NFTs, buy NFTs of their family or household members, enter into agreements to buy such prohibited NFTs with the DAO funds, or otherwise purchase NFTs in other than a fair, arms’ length transaction.

Members of the Purchasing Committee may be replaced if in violation of any of these rules.

Full Proposal Intake form: https://docs.google.com/document/d/1U9avo6Qx7V3Y2CvqxzjevPwIVMNZ7IC85cKHYfwIjgM/edit?usp=sharing