49 [SOL] MonkeDAO Vote
What is MonkeDAO and SMB?
When it comes to blue-chips NFTs on Solana, Solana Monkey Business (SMB) is a name that often rises to the top. Solana Monkey Business (SMB) is a collection of 5000 pixelated monkeys minted on August 3rd, 2021, at a mint price of 2 SOL. These days the floor price is quite a bit higher at 240 SOL!
Before the August mint, early supporters of the collection were heavily rewarded. A collection of 4 different space-themed gen 1 NFTs was released on June 2nd, 2021. The users who held all 4 of the Gen 1 space monkeys were entitled to 2% of the SMB royalties.
The popularity around SMB has led to a community galvanizing into the MonkeDAO, an independent decentralised organisation made up of SMB enthusiasts.
The Dispute
Recently there have been disputes around the royalties generated for the community fund from secondary sales of SMB NFTs. MonkeDAO has requested additional funds to pursue further initiatives that benefit all SMB holders. This led to a proposal to raise the royalty structure with more percentage of secondary sales going to the MonkeDAO community wallet.
Methodology
I used a combinations of swaps and transactions table to find the sales and sellers. Since seller information is not directly available in the swaps table, I used the transactions table to find the listing information on Magic Eden and SMB Marketplace.
NOTE: I wasn't able to following question because the Solana data only goes back to December 2021 and doesn't have a wallet balances
table for getting the data on how many people own how many SMB NFTs.
> What were people's voting preferences based on the number of SMBs that they owned?
Observations
- Let's start with the voting results which are thoroughly in favor of "Yes"!
- After the vote ended, we find 70 out of the 834 voters listed their NFTs which is about 8.3%
- On the buying side, only 21 out of 834 voters bought any more SMBs which is less than 3%.
- Surprisingly, most of the listers voted "Yes" on the proposal.
- Perhaps, these folks bought the NFTs just for the vote.
- After the vote, nearly 23% of the SMB sales were from the voters while 77% of the sellers were non-voters.
- These voters listed most of the SMB NFTs on the SMB marketplace instead of Magic Eden which is good show of community strength!
Conclusion
Community has been one of the core reasons for the popularity behind the SMB NFTs. It was great to see the community come to an agreement with the creators rather than pursue a different path. After the vote, we only see around 8% of the voters sell their NFTs which means most of the users are bullish on these NFTs for the long-term.