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The Solana Monkey Business (SMB) is one of Solana's pioneering blue chips. Officially managed by MonkeDAO, a conglomerate of Monke holders, the first generation of space-themed monks was minted on June 2, 2021.
The collection undeniably put the network into investors' spotlight when its second generation of 5000 24 x 24-pixel monks sold out for 2 S◎L on Aug 03, 2021, after a broad airdrop of the legacy collection.
SMB's market value has experienced ups and downs. But never has it fallen below what's bearable for most investors. As of writing, SMB has a floor price of 190.6 Sol with a total sales volume of 1.98M S◎L.Let's dig deeper into the Monkey Business.
The Acquisition by MonkeDAO
Although Hadeswap, an NFT exchange, had previously acquired Solana Monkey Business and its intellectual property (IP) in February 2023, this ownership didn't last as expected.
However, Hadeswap's purchase came amid the royalty feuds between the MonkeDAO community and SMB creators. SMB only allocated o.5 percent of the Gen2 SMB royalties to community wallet funding. But the MonkeDAO community insisted that they needed more due to the value they add to the project. A March 2022 community-based vote increased MonkeDAO's share to 2 percent.
Some unclear terms surrounded the deal, as neither party disclosed the essence of the purchase. But for what it's worth, Hadeswap's acquisition opened a buy window to MonkeDAO, which many had hoped would buy the collection someday.
Many believed that the disagreement between all parties prompted MonkeDAO to purchase SMB and its IP from Hadeswap for $2 million in a token-based vote in April 2023. Until writing, the sole ownership and management of SMB and its IP rest on the MonkeDAO community.
The Journey of the Monkes
As mentioned, SMB started with a collection of only 205 NFTs, subdivided into four uniquely crafter pixelated collections of space monks. The subdivisions include 116 Monkanician NFTs, 37 AstroMonke NFTs, 27 Monkos NFTs, and 25 Monkalien NFTs.
Only holders of one each of all four sets received 2.5% royalties of Gen2 SMBs, a collection of 5000 pixelated monkeys minted on Aug 03, 2021, for 2 S◎L each. This implies only 25 complete sets of the original SMB Gen1 collection are in circulation. All SMB metadata is stored on Arweave, a permanent decentralized Web 3 storage platform.
Not long after releasing the second-generation pixelated monks, SMB received wide acceptance to become the blue chip of the Sonala ecosystem—as Bored Ape Yatch and CryptoPunks have the Ethereum network.Incredible Sales Stats
Since minting, the lowest SMB sales ever recorded is 130 Sol, while its peak floor price remains 13027.00 S◎L Sol at the time of writing. By October 2021, barely two months post-minting, SMB had reaped over $2 million in sales.
Holders have also demonstrated strong diamond hands. As we write, only 186 pieces of the SMB collection are available for sale in the secondary market.
The launching of SMB's second generation inspired the creation of a conglomerate of holders called MonkeDAO, the premiering NFT DAO on Solana. MonkeDAO's structure includes four appointed and four elected executives, excluding the CEO.
Indeed, this community has contributed immensely to SMB's growth, building many valuable perks and business collaborations around the SMB project.
One of MonkeDAO's notable initiatives includes a staking system that rewards users in daoSOL, MonkeDAO's liquid token based on S◎L value. This initiative allows Solana-based projects and individual users to deposit their S◎L in a DAOPool and earn an annual percentage yield (APY) without losing access to liquid funds. Hence, investors don't have to wait till the end of an epoch to un-stake—they can access their funds at will.
In its most recent venture, MonkeDAO's collaborated with Tensor to launch its marketplace for the MonkesDAO community.
The New Solana Monkey Business NFT Collection
The MonkeDAO community has revealed it's working on a new collection, the Gen3 Solana Monkey Business. The SMB Gen3 collection takes its entire idea from MonkeDAO's planned Official MonkeDAO Collection (OMC), set to launch later in 2023. Its sole aim is to expand the MonkeDAO community and build a collection that "gives access to MonkeDAO."
According to SMB, "Gen3 is the official next collection for the SMB Brand, and an expansion of MonkeDAO membership." This new generation of the SMB collection is set to Mint in June 2023 with Metaplex, an NFT scaling platform.
What Is the Significance of Holding an SMB?
The killer strength of the SMB NFT is its strong MonkeDAO community. While it keeps adding utilities and mounting events upon events, each holder has a sense of value.
The MonkeDAO maintains a covetable inclusive governance that allows anyone in the community to rise to prominence. Every SMB NFT holder receives a fair share in the community, regardless of background.
Some of MonkeDAO's community-building strategy adopts individual local and international physical meetups between members, including sold-out community events in several cities worldwide.
The MonkeDAO community has also collaborated with many companies, including Google and Samsung to raise funds for Solana-based hackathons.
Overall, holding a Solana Monkey Business NFT means belonging to a part of an organization rather than a community of collectors. All decisions within the MonkeDAO are subject to intense democracy. And every holder gets a fair chance to contribute to how the decentralized organization runs its business.
According to MonkeDAO, "At the core of MonkeDAO's governance model are proposals. A proposal allows a member to suggest a course of action for the DAO, whether big or small."
Now that it has even acquired SMB and its IP, there's no limit to what this community can achieve.
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The Degenerate Ape Academy (DAA) is a collection of 10,000 degenerate apes minted on August 14, 2021, with a common goal; to mess everything up.
The art says it all. Looking closely at the collection listings on marketplaces like OpenSea and Magic Eden, the apes don't care what you think. Enrollment into the academy is a criterion for becoming a Degen Ape. Here's all you need to know before you enroll.What Is Degenerate Ape Academy?
The (DAA) visually describes a group of apes exhibiting degenerate behavior within the Degenivers, a Web 3 community for Degen Apes. Headed by the pseudonym, Monoliff, DAA operates as a DAO, and it's the first collection to debut NFT voting on the Solana network.
On September 28, 2021, barely over a month after minting, DAA announced the election of a 15-members Student Council to represent the entire DAO for 369 days. These were elected using the academy's NFgTs. According to DAA, NFgTs are non-fungible "Governance Tokens –– which are minted to every member of the DAOO."
The Exiled Apes
Originally scheduled to mint on August 13, 2021, DAA's initial mint flopped due to heavy traffic. Some minted Apes had missing metadata or art, and the team stopped the minting. It shifted to a new smart contract the following day (August 14) to mint 10,000 NFTs afresh.
Hence, the previous 719 NFTs minted amid heavy traffic couldn't go along with the primary smart contract.
Of the 719 Apes minted on August 13, 511 full Apes emerged, leaving the other holders with 136 GhostApes; NFTs with no image but have metadata, and 72 NullApes; Apes with neither metadata nor art.
Although the team had promised these Apes would be a "special class" in the academy, it declared them void hours later. Citing secondary market exploitation as the reason for its decision, it stripped the Exiled Apes of every academic benefit. This event resulted in the creation of Exiled Apes, a definition for DAA NFTs that can't be a part of the Ape Academy.
The team went on to roll out a refund policy for Exiled NFT holders. While some took the deal, others decided to HODL, leaving the pack with 518 Apes: 399 FullApes, 89 GhostApes, and 30 NullApes.
However, DAA finally found a way to fix the broken mints via an Entagler, and holders of the remaining Exiled NFTs would get the option to bridge their Exiled Ape with the new Ape for a fee.Relevant Stats and Sales History
The Degenerate Ape Academy NFT maintains a spectacular sales history. Although the mint price was 6 SOL, all DAA NFTs sold out in under eight minutes, making it one of the most sought-after Solana blue chips.
Barely two days post-mint, DAA already made the Yahoo News for peaking Solana's price to an all-time high of $68.76.
During the hype, Moonrock Capital, a blockchain advisory and investment firm, acquired Ape #7225, the thirteenth rarest Ape in the collection, for 5,980 SOL (equivalent to $1.1 million at that time).
By mid-2022, the Degenerate Ape Academy had won OpenSea's "Highest Volume Collection on the Solana Blockchain" award, putting it in the spotlight of more well-meaning investors.
At the time of writing, the Degenerate Ape Academy NFT has climbed to a sales volume of 1.85M SOL and has a floor price of 41.24 SOL.
What's in It for Holders?
The Degenerate Ape Academy has proved its goal since it launched. It's glaring that its claim as a Web 3 company rather than just an NFT creator isn't a bluff.
As part of its nifty ways of retaining collectors and recognizing loyal holders, DAA announced the #ForeverApe Twitter ash tag: merch and 3D render rewards via NFT Inspect for Twitter users who use their JPEGs as PFPs.
That's not all, the team also revealed a V2 trait of the Degen Apes in January 2023 via its Twitter handle. you can view these as unique traits of the Degen Apes dropped periodically with some perks.
"The goal with V2 is to make the system as fun as possible. It will be centered around a continual release of new and limited @Monoliff traits (starting with apes), a daily drip of Gold Stars, auctions, and community engagement around each drop."
The Degenerate Trash Pandas and the Degenerate Drop Bear
DAA has added other NFTs to the Degeniverse since it launched. It started with the Trash Pandas NFT in November 2021, giving each DAA holder a free mint. The Trash Pandas re-imagine DAA's backstory. It's a collection of 20k "cunning critters that live for one thing and one thing only: To scavenge the blockchain."
And then comes the Degenerate Drop Bears in October 2022, a 2.5k collection of tender but fierce-looking Koalas. Each of these Koalas came about via "hatchening," an event leading to the growth of eggs that once lived in the "trees of the Dingus Forest." In simple terms, the Degenerate Drop Bears are a reveal of the Eggs.
Although more stories surround these trailing additions—and they seem independent of the Degen Apes NFTs, DAA aims to expand the Degeniverse with more crazy collections. With that said, they're still an integral part of the Degeniverse story.Gold Stars
Gold Stars is a set of tokens that allows you to claim Loot Boxes, which contain verifiable but unrevealed items. According to its Medium guide, you need 169 Gold Stars to claim one.
Bringing the class vibes into Web 3, the Degenerate Ape Academy rewards punctuality, responsibility, and availability. Enrolled students can earn Gold Star as on-chain reward roll calls, homework, or field trips.
Roll calls check if your NFTs are staked in class and not listed on a marketplace. An enrolled Egg, Panda, or Ape can accumulate a Gold Start voucher attached to the staked NFT.
Holders can also earn Gold Starts by completing homework handed in via social media. This policy rewards activeness in the community. The field trips reward holders for participating in real-life (IRL) events organized by the academy.
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