The Cult public sale goes live on December 13th
The CulD or Cult DAO launches on December 13th at 6pm UTC through the sale of an NFT collection. The Cult DAO consists of 20.000 generative 3D NFT avatars. To purchase one, go to the website and mint the NFT yourself. Or, read on to understand more about the collectible NFTs, the Cult DAO project and to see some of the NFTs.
The Cult DAO strives to build the largest collection of unique NFTs around. It’s kicking off with an NFT sale of 20.000 3D avatars on December 13th. Go to Discord to get on the whitelist and get your NFT a day early. Crucially, however, the Cult DAO intends to flip NFT ownership on its head. For every NFT you purchase, you also gain membership privileges. It’s similar to buying governance tokens in a regular DAO. The NFT becomes a membership pass.
But DAO does that work?
A DAO, or decentralized autonomous organization, is a group run by consensus that effectively removes the need for a middleman. Run by code, it’s a computer program that is transparent and fully controlled by the organization members. Ethereum was the first successful DAO. Although some crypto fanatics posit that Bitcoin was the first to be a DAO, but without realizing. Most DAO’s have a proprietary token. In Ethereum’s case it’s ETH which also acts as a governance mechanism.
The Cult DAO is a spin on a regular DAO. Instead of releasing a token, however, NFTs serve as keys that unlock DAO participation. As a result, the DAO is an expanding and constantly evolving collection of NFT artwork. It drastically differs from regular DAOs where a lot of the development focus revolves around the token price and its volatility.
Those wishing to buy a Cult NFT gain participation rights. For example, they have more control over the actions of the treasury, plus they are in a position to help to promote the DAO. The forementioned treasury gets filled by the sale of NFTs and a revenue share on secondary sales. Click here for more info.
The Cult Appeal of NFT Collections
The Cult DAO reckons that unique NFT collections will continue to outperform Ethereum. If 2021’s performance is anything to go by then the NFT market will almost certainly outplay ETH’s price growth.
Incidentally, NFT sales continue to number in the millions–not only in trading numbers but in dollar value. DappRadar, the World’s Dapp Store, recorded that the Top 5 NFT sales in November were worth 7 figures. It’s a highly lucrative and engaging market which has attracted a smorgasbord of investors. Think big brands like Adidas to bollywood actors to Indian cricket stars. NFTs are clearly here to stay, while a collectible DAO could drive future NFT adoption and acquisition.
Plus, for every pump in price of ETH, NFT collections minted on Ethereum gain in value. It’s a win-win for NFTs on Ethereum. Ultimately though, the CultDAO’s vision is that collectible DAOs will form the top NFT collections. Could the Cult DAO’s first collection change the future?
For the new, collectible DAOs, it’s a way for collectors to be part of something bigger. With the Cult DAO launching its public sale on December 13th at 6pm UTC, you’ve got the chance to take part. Click here to get on the whitelist.
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