A Sudden Birth of $HDAO

First time ever and probably the only time ever we would see National Treasures on the auction

“It’s a first in South Korea. Highly impacted by the pandemic, the Kansong Art Museum is selling certain works at auction in order to survive. A practice that is highly controversial in the Asian country, as well as elsewhere. We take a closer look. An indispensable decision, and a hard one to make, for the future of Kansong.” The Kansong Art and Culture Foundation justified the sale at K Auction, on January 27, of several historical sculptures from the collection of the Kansong Art Museum in Seoul in these terms — The Art Newspaper

Problems

  1. Due to Covid-19, Kansong Museum is selling National Treasures on Auction in 4 days in desperate measures to recoup liquidity. God knows how long the Covid is going to stay with us and this could be repeating issues.
  2. If National Treasures are sold to the hand of some billionaires, you don’t know when you are gonna be able to see these pieces again in museums — and if Covid stays with us, this is going to repeat itself.
  3. Even when they are up for an auction, rarely you find buyers with all the duties you are abided to the very moment you buy the National Treasure (Duty of reporting and maintenance) - Not exactly like your everyday Picasso.
  4. National Treasure has to stay in Korea and it’s ILLEGAL to transport it outside of Korea. This could dramatically reduce the number of buyers that may want to buy up the national treasures.
  5. Lastly, we only have 4 days till the auction day.
  1. We form a DAO, which resembles Constitutional DAO, and raise big enough contributions to win the auctions. To save time, we use Juicebox to mint $HDAO token to contributors and Snapshot for $HDAO holders to propose and vote.
  2. If we ever win the auction, we have the Kansong Art Museum or National Art Museum of Korea to have the physical National Treasures under their custody.
  3. We mint NFTS over the ownership of the National Treasures and fractionalize and sell 49% to the open market while keeping the 51% and collateralize that on the Crayon.Finance to recoup liquidity and run DeFi strategies per DAO’s proposals.
  4. Returns we split per contribution rate, and potentially donate to custodians and/or government if DAO is willing.
  5. We need to raise about $10M USD worth of funds to securely win the auctions for 2 National Treasures.

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NFT focused DAO-as-a-Service platform that provides services for DAOs to build community, governance, and manage NFTs with ease. http://linktr.ee/CrayonDAO

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CrayonDAO

CrayonDAO

NFT focused DAO-as-a-Service platform that provides services for DAOs to build community, governance, and manage NFTs with ease. http://linktr.ee/CrayonDAO

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