Proposal #13

PROPOSAL: ACQUIRE OTHERSIDE LAND Otherside (Purchase up to 5 ETH).

Otherside is an upcoming metaverse project by Yuga Lab (the BAYC team).

The land sale commences today (30 April). Wallets needed to be registered in advance of the land sale so that KYC checks could take place. At least 2 of the Creepz DAO Admin team (Gary and sickocrypto) have wallets registered for the sale and have kindly offered the DAO the opportunity to acquire Otherside land through them if this is something of interest to the DAO community.

The Proposal is to spend not more than 5 ETH in order to acquire 2 Otherside land plots (provided gas is reasonable). The ETH would be transferred from the DAO's Gnosis wallet to these signatories who would make the acquisition and transfer the land NFTs back to the DAO. The DAO would then reimburse them the gas costs of the whole exercise.

Proposal shall also authorise the DAO Admin team to re-sell one piece of the acquired land, at its discretion. Any decision to sell shall only be authorised if agreed to by a majority of the DAO Signatories and Advisors in a simple vote (for ease and speed!).

Pros; (1) OtherSide is very likely to be successful beyond the initial mint cost. This gives us a financial opportunity to generate funds for use through the sale of one on the secondary. (2) We could also hold the second land as a possible future hang out for DAO holders or longer term investment.

Cons; (a) Risk of transfer to non multi sig for purchase. Signatories are of course fully doxxed. (B) it’s not Creepz. We feel that this is an opportunity as much as a risk. Profits would be available for authority under future proposals for purchase of Creepz assets.

Cons - added; Yes this is a bit rushed. We only knew the details for the land sale on 28th April and this is a short time frame opportunity.