Spice DAO, the cryptocurrency collective that bought a script bible for Alejandro Jodorowsky’s never-before-made. Dune adaptation, apparently still thinking what to do about its success. Earlier this week, the collective stopped working with a senior member who posted virulent hate messages as part of a self-described Internet art project. Now, the project’s creator has suggested that Spice DAO will step back from its quixotic goal of creating a community-owned media powerhouse, but it’s unclear if the group is changing plans.
Towards the end of 2021, the decentralized autonomous organization (or DAO) raised millions of dollars to buy a rare copy of Jodorowsky’s book. Dune Bible, then found an important treasure left over after winning the auction. Its sponsors voted in favor of launching a multifaceted media company complicated with money, including a writing contest to acquire intellectual property or “IP” that could become an animated series. (Contrary to several reports, Spice DAO did not state that the series would directly fit Jodorowsky’s Dune.)
Subsequently, the group signed an agreement Love, Death and Robots writer Philip Gelatt to deliver a screenplay based on the winning entry. He voted to pay $ 1 million in three years to partner with comics artist Frank Miller’s new publishing company on a line of non-fungible chips (NFT). In the meantime, long-term storage is organized for the physical copy of the file Dune bible and discussed plans for public display.
Spice DAO is still far from completing its goal of making a television series, and its level of “decentralization” is debatable: there is a small central team that prepares proposals and manages logistics for essentially all operations. But it has an unusual amount of real-world activity for a poorly organized crowdfunding collective. It is one of the strangest and most elaborate initiatives that has come out of the boom in cryptographic advertising and, so far, has avoided the intense collapses suffered by other groups.
I just want to make it very clear that I completely condemn Charlie. Involvement of Remilias in @TheSpiceDAO has been limited and we are working on a plan on how to allow token holders to view the book and issue a refund so that holders can leave holes. DAO will no longer create IPs.
– soby ⛓ xNFTs (@sobylife) May 23, 2022
But a recent controversy has plagued one of the main organizers of the DAO, Charlie / Charlotte Fang. Fang was part of the Remilia Collective, which helped launch Spice DAO alongside the crypto millionaire and Dune enthusiast Soban “Soby” Saqib. Fang, described in a January issue as “essential in conceptualizing and launching the project,” was then named head of strategy and treasurer of the group.
This weekend, Fang he also admitted to being behind “Miya” an online personality whose comments included intolerant screeds, racial insults, promotion of self-harm and anorexia, and alleged links to an online “suicide cult” called Systemspace. Fang characterized the comments as “jokes between friends” and “a form of critical satire” made for an internet art project. But in the end, Fang declared the partnership a “toxic baggage” and gave up Milady Maker, a Remilia NFT project. “Miya has nothing to do with Milady Maker and should continue to do so, so I will leave the team from here,” Fang wrote.
How Kotaku noted, the initial implications for Spice DAO were unclear. Members of Spice DAO (people holding a token called $ SPICE) questioned Fang’s continued involvement on the group’s Discord server, and on May 24, the other key members removed Fang from the list of treasure key holders. “He resigned from the main team,” Spice DAO said in a statement The Virgin.
Saqib issued a harsh condemnation of Fang on the same day. “I just want to make it very clear that I completely condemn Charlie. Remilia ‘s involvement in [Spice DAO] has been limited and we are working on a plan on how to allow token holders to view the book and issue a refund for holders to be complete, ”Saqib said. he said on Twitter. In the same tweet, he hinted that Spice DAO would reduce its plans, saying that “DAO will no longer seek to create IP.”
Saqib explained his reason for being in later tweets. “This DAO was rushed from the beginning and taught me a lot. Dune’s Bible is currently being scanned. Once these scans are done, we’ll find a way for token holders to see their content. In retrospect, I think the DAO should stay focused on this instead of trying to do a decentralized study, “he wrote.” Personally, I’m disgusted by all this. What I’ve learned from this is that DAOs are very difficult and tokens are a bad way to start communities around IP. “
It is not clear what “no further IP creation” means or what a “refund” would entail. A tweet from Spice DAO’s official Twitter account has indicated that it is still looking for a “multimillion-dollar animated series” with Gelatt. He said he would soon also release a 60-second silent animation based on another contest entry, something members voted to pay $ 24,000 to artist Ben Clarkson in March. And Saqib himself said the team was moving forward with the release of the Frank Miller NFT, with $ SPICE owners receiving free chips from the series. Saqib declined to comment immediately on SpiceDAO’s plans in a direct Twitter message.
Although Saqib is not a member of the main team, he remains a key figure in Spice DAO and holds a key to the treasure, and his tweets indicate a declining appetite for the group’s most ambitious ideas. But operations leader Kortelin posted a much more exciting, albeit nebulous, description of Spice DAO’s goals in the group’s forum, suggesting the group is still very interested in media production.
The next phase of our growth is to build a proprietary decentralized storytelling protocol. We are pioneers in decentralized Web3 storytelling as a new form of collaborative media that is run, directed, and owned by the community itself. We are a content incubator, a native cryptographic think tank that has been marketed and monetized by the community that acts as the collective author of each project. Spice DAO is gamifying user-created content that involves the community to actively participate in the creative process rather than passively experimenting with it.
The first project we would like to adapt through these new smart contracts is the Dune Bible. As co-owners of the fifth edition of the Dune Bible, all members of Spice DAO belong to a very exclusive club. Let’s work together to make the content public once and for all!
Through Discord, Kortelin declined to comment publicly on what would include a “decentralized storytelling protocol” or how Dune’s Bible would fit.
Through all of this, Spice DAO is facing the effects of a recent cryptocurrency crash, in particular the dramatic drop in the value of tokens like Ethereum, in which most of Spice DAO’s funds are stored. (There is a long-term plan to move to the stable USDC currency.) The Ethereum Group’s current stock would be worth $ 3 million when the auction was held in late November. Today, its value is approaching $ 1.3 million. The actual $ SPICE token has been worth almost nothing since early 2022 and is used almost entirely for voting. Things like Frank Miller NFT training could bring new funds to the treasury as Spice DAO can charge a commission if they are sold or resold. But it would take a huge infusion of money to make a full TV series, especially if Spice DAO ends up offering to return the money from the sponsors.
DAO token holders are supposed to be in control of any important decisions, even if they receive refunds or continue to “create IPs.” In practice, however, all the proposals of the central team were comfortably approved. Therefore, your future direction is likely to be decided by a small group at the top, with regular $ SPICE holders along the way.
In his tweet, Saqib expressed pride that Spice DAO had achieved at least its main goal: to acquire the Dune Bible. “Despite its shortcoming, SpiceDAO has still been able to secure a culturally significant artifact using Web3,” he wrote. “Let’s complete the main function of the DAO, make the spice holders as complete as possible and move on.”