Background The project was originally developed, deployed and abandoned by its founder. The community banded together to rescue the project while gaining control over the contract and the rest is history. All royalties are paid into a multi-sig wallet, signed off by community members. Funds paid into the multi-sig wallet are used to pay for the operations, expansion and growth of the community. The project wallet original contained no genesis Expansion Phunks NFTs. The GOAT/MOD team secured 19 Expansion Phunk NFT's in market using community funds and have to date given away 2 in competitions.
Whilst the core development of our own marketplace and securing related IT infrastructure was not been voted on, agreement pre-dating our Snapshot, the team take expenditure of our funds seriously and propose votes for all non-related proposals that have a sizeable impact on our remaining funds.
The Expansion Phunks project wallet currently retains 14.65 Ethereum circa $46,500 @eth ~$3200
Proposal Most project wallets retain a proportion of NFT's from the collection they relate to ensure the community can benefit from any price appreciation in the underlying assets, either through sale or increased value to user attraction marketing activities. The team feel that the community wallet does not contain a suitable 'war chest' of xPhunks to move forward.
This proposal puts forward several options regarding use of community funds to secure additional Expansion Phunk NFT's at the lowest prices possible, be it in market or bulk acquisition publicly or privately. Whether to use community funds, or if so, the quantum is to be voted.
The team anticipates it will secure the majority, if not all assets below 0.02 eth/NFT