Gate.io Blog FlamingoDAO NFT portfolio

FlamingoDAO NFT portfolio

04 March 13:54

[TL;DR]

1. Flamingo DAO is one of the most exclusive decentralized autonomous organizations and NFT collectives by OpenLaw.
2. FLAMINGO aims to support, collect, purchase, archive, and potentially tokenize essential pieces of the crypto ecosystem.
3. FlamingoDAO’s massive NFT portfolio now has "215 CryptoPunks and 22 Bored Apes, which has an estimate of $1 billion."
4. FlamingoDAO ’s membership has increased over 350-fold to 3,000 ETH, approximately $8 million. Learn more in the body of the article.

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What Is Flamingodao?

FlamingoDAO is a "meme-based" cryptocurrency that was established by Stani Kulechov, who is also the founder of Aave. FlamingoDAO is one of the most exclusive (DAO)decentralized autonomous organizations — "which is essentially a software running on a blockchain that offers users a built-in model for the collective management of its code, which is represented by rules encoded as a transparent computer program."

However, FlamingoDao, as said on its site, aims to “give its members the ability to develop and deploy NFT-focused investment strategies, while also shedding light on the parabolic returns in the non-fungible token (NFT) space.” Since its inception, the DAO has been at the forefront of acquiring the industry’s greatest NFT assets. Presently, the DAO has gathered 7,920 ETH in its treasury, which was used as capital to purchase some of the industry’s most sought NFTS, which are considered very rare and valuable.

The FlamingoDAO’s massive NFT portfolio currently has a collection of "215 CryptoPunks, 22 BoredApeYC, and Alien Punk citizens, which was estimated to have exceeded $1billion in worth. The collection also comprises of 371 cryptoblots, 246 Chromie Squiggles, 5 Autoglyphs, hundreds of artblocks_io pieces and other bespoke NFTs." — Forbes. The total number of NFTs in the collection can be accounted for in thousands. However, the NFTs can be verified using the blockchain data, which trails back to FlamingoDAO wallet addresses.

Flamingo collected 60 ETH from each member at their launch in October 2020, which was approximately $23,000 at the time. However, new members are now buying in at 3,000 ETH, roughly $8 million, which is almost a 350-fold gain in a matter of 15 months. Due to the platform's success, the company has received funding from some of the NFT ecosystem's brightest minds, including the founder of Aave Stani Kulechov and Artblocks creator Erick "Snowfro" Calderon. As Flamingo’s success escalates its buy-in price, it has also increasingly attracted the attention of investment funds — Aaron Wright.

Whale collective

Aaron Wright, a FlamingoDAO founding member and founder of DAO tooling company Tribute Labs, attested that Flamingo’s members are primarily crypto-native individuals who have been in the space for a long time.

Members include crypto-industry tycoons such as the" founder of Aave Stani Kulechov" and "Artblocks founder Erick Calderon," among many others, who frequently display a flamingo emoji on their Twitter profile or reference @FlamingoDAO in their bio to showcase their membership.

“In the beginning, membership was first come, first served,” — Wright. However, forthcoming members have to participate in one of Flamingo's sister DAOs, such as "The LAO, the DeFi-focused NeptuneDAO, the music-focused NoiseDAO, or the metaverse-focused NeonDAO." Or be invited by an existing member.

“The whales are all together,” According to Wright, who describes Flamingo’s members as a combination of traders, developers, artists, and builders. “That’s what makes these things so powerful. They’re horizontally organized.” — Wright.

According to their website, "Membership in Flamingo is currently limited to accredited investors, as defined under U.S. SEC rule. The total number of members at a given moment is capped at 100 members."

Conclusion

FlamingoDAO's reputation has made previously unknown artists well-known simply by being included in the brand's collection. The sister projects have also attracted funding from top personalities due to Flamingo DAO's success. There are over 4,000 DAOs with over $8 billion in holdings. Finally, DAOs, as predicted by Syndicate co-founder Ian Lee, will hold up to 2% of the $100 trillion global money management market in a decade.

Author：Gate.io Researcher：M. Olatunji
Disclaimer:
* This article represents only the views of the observers and does not constitute any investment suggestions.
*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

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FlamingoDAO NFT portfolio

[TL;DR]

What Is Flamingodao?

Whale collective

Conclusion

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