WAAMI DAO acquired Clone X - X Takashi Murakami #5618
CloneX #5618
In case you haven’t heard, we’re in a bear market —NFT’s are on sale and CloneX are no exception. The current 12 ETH floor is down 40% from the all-time high, and that’s if you’re measuring in ETH.
Season One of WAAMI DAO is only set to last for two years, so we don’t plan to sit on our ETH and wait out the uncertainty in the market. We passed an on-chain vote to send 40 ETH to the DAO multi-sig to make it easier for us to act quickly when there are NFTs being minted or bear-bottom-bargains on blue chips.
Blue chips are the safest place to be in a bear market, and CloneX has been a blue chip NFT project since they were minted. The RTFKT collaboration with Takashi Kurakami minted in November, 2021 for 2 ETH each, and currently have a floor price of 12 ETH. CloneX owners have received additional NFTs (airdrops) that continue to be worth more than the initial mint price, and in some cases considerably more than the floor price.
The floor price is out of reach for many of us as individual investors, but we didn’t want to just buy the floor — several members lobbied that we spend more to acquire one with Murakami drip, an attribute with a current floor price over 19 ETH. The investment committee summarized the investment thesis, budget, and exit strategy; proposing we spend up to 22 ETH for a Murakami drip CloneX.
The vote passed on Telegram and on May 16 WAAMI DAO acquired Clone X - X Takashi Murakami #5618 for just under 22 ETH. We intend to keep #5618 for the life of Season One, but any member can propose a vote to sell at any time.
