FlamingoDAO’s NFT Portfolio touches $1B
Flamingo DAO’s are now more exclusive than ever, with their membership buy-in increasing over 350 times at 3,000 ETH (~8 million USD).
One of the most exclusive DAOs, FlamingoDAO, has revealed a staggering 500% increase in the market value of NFTs. FlamingoDAO has a large portfolio of assets, and its worth is currently valued at 1 billion USD.
One of the most exclusive DAOs has pointed out the significant gains of non-fungible tokens. At the beginning of October 2020, Flamingo gathered 60 ETH from every part (roughly $23,000 at that point).
New members are now buying in at 3,000 ETH, which is $8 million. This is nearly 350 times more than before and over 15 months.
Flamingo DAO aims to “give its Members the ability to develop and deploy NFT-focused investment strategies,” according to its site.
The DAO has collected 7,920 of ETH so far and is currently managing it to purchase rare NFTs.
In addition to CryptoPunks and Bored Apes, popular profile picture projects, the DAO also owns 246 Chromie Squiggles, 371 Cryptoblots, five Autoglyphs, and several other bespoke NFTs known as 1/1s. Crypto collectibles are closely monitored on the blockchain, so there’s no doubt about whether they’re genuine or not. Thousands of items are on offer up for grabs, with all the details of their authenticity available for examination.
Aaron Wright from FlamingoDAO said that members are primarily cryptocurrency natives who have been in the industry for a long time.
FlamingoDAO is a meme-based cryptocurrency that was founded by Stani Kulechov, who is the founder of Aave. It can be seen on Twitter profiles or within their bios.
“First, membership was first come, first served,” said Wright. Figuring out how to join Flamingo now involves doing something for an existing member. If you want to take part in Flamingo, you’ll need an existing member to invite or help you with one of our sister DAOs: LAO, NeptuneDAO, NoiseDAO, or NeonDAO.
“The whales are all together,” said Wright, who describes Flamingo’s members as a mix of traders, developers, artists, and builders. “That’s what makes these things so powerful. They’re horizontally organized.”
The Flamingo DAO has a maximum membership of 100 individuals. As the buy-in price for the Flamingo DAO increases, more and more investment funds are drawn to it.