Mint Three shares in ProofGrailsDAO

Proposal 061: Mint three shares in ProofGrailsDAO

Total Price: 6 $ETH

When: Upon the passing of this proposal

What + Why: A DAO is being launched by the same group that launched Proofer DAO (DAO set-up to buy Proof passes when they were at ~28-30 $ETH and the DAO token has 5x’d in value since then). This new DAO would collect one of each piece of the first season of Grails from Proof. There are 20 pieces and they believe it will take about 200 eth to make it happen. They’ve already identified a seller who owns 19/20 grails and is willing to sell them near floor price for every piece.

Thesis: “Invest now, hold for long term (not focused on trading), sell as a collection one day at a big auction house because Kevin and Ryan et all are insanely successful with Proof and they take over the world with NFTs. We believe that the value of owning 20/20 will sell well as a collection at an auction house in a few years (this is a long term bet) This gives you exposure into that idea at a much lower price, and completes the set which will otherwise be quite difficult to complete as time goes on.”

This is their constitution: https://serpin-taxt.gitbook.io/proof-grails-dao/ Each token costs 2 $ETH to mint and their is a max supply of 100 tokens. 74 have been minted so far (minting has been ongoing since the start of April, but is beginning to pick up). Owning a share would give us fractional exposure to all of the Grails. Their token is tradable on Opensea and you don’t need permission to sell so there is some degree of liquidity; you can see how often the Proofer DAO token trades here: https://opensea.io/assets/0xe24e2dd0ee5b3cac25f078ae04fbe4f0594b77ed/0

Bear Case: NFT Bear Market, Interest in Proof Grails Season 1 does not increase (certainly possible), there isn’t sufficient interest to pay a full-set premium.