The crypto collective Dune bible wants to sell its Dune bible

The cryptocurrency collective built around a copy of Alejandro Jodorowsky’s dune script bible will no longer be a collective and is trying to sell its dune Bible.

Spice DAO (short for Decentralized Autonomous Organization) recently launched the “first buyout phase,” a fundamental shift in its leadership. After a series of setbacks in an ambitious plan for a crypto-powered media studio, the group is allowing people who hold its $SPICE token to withdraw their money from the group’s treasury. It will change its name to “Spice Club”, a “members-only group” instead of a body with a formal voting structure. And it will keep its upkeep expenses to a bare minimum, a process that includes returning the fragile and valuable book that inspired its creation.

Members who hold $SPICE could earn revenue from the remaining Spice Club initiatives. The group hopes to make money from the sale of the book and a non-fungible token (NFT) collaboration with comic book artist Frank Miller. But that plan is complicated by the dismal state of the cryptocurrency market and legal issues around DAOs and tokens like $SPICE as well as doubts about whether the book could be auctioned off for anything approaching. remotely its purchase price of around $3 million.

The group’s current plan includes the sale of the dune bible in the fourth quarter of 2023, coinciding with the release of the film Dune: part two. The group previously teamed up with comic book publisher Frank Miller Presents on an NFT series, which it still plans to help publish. Any remaining $SPICE holders could get a share of his cash after these projects go live, though the legal language is somewhat cautious. In the Spice Club Discord, project manager Kortelin noted that the team is being cautious in anticipation of possible crypto regulation. Alternatively, they can “burn” their $SPICE and withdraw 0.3 ETH, or roughly $450, per million tokens. The group’s treasury currently lists his net worth at around $1 million.

Spice Club was one of many crypto DAOs, but it was exceptionally ambitious. Started as a crowdfunding project to buy a copy of Jodorowsky dune bible, he ended up with a multi-million dollar treasure after winning an auction in November 2021. The DAO hoped to maintain the physical condition of the dune book, find a way to digitize and distribute its contents publicly, and produce media similar to Jodorowksy’s never-before-made adaptation of dune. So far, Spice Club has handled the first of these tasks, paying for maintenance with treasury funds. He also funded a contest to find stories that could be made into a TV miniseries and paid for a screenplay. Love, Death and Robots the writer Philippe Gelatt. These projects along with Frank Miller’s NFTs were proposed by a small core team and then adopted by a vote of people who purchased $SPICE tokens.

But, in the months following the auction, the group ran into various problems, some predictable, some less so. He struggled to find a way to make the dune bible available to members without violating copyright laws. The group also bought the bible just before a crypto price drop that has since turned into a real crash, decimating its treasury, which was largely held in Ethereum. Earlier this year, one of the founding members quit after being linked to a deliberately hateful online art project character, leading the project’s original figurehead, Soban “Soby” Saqib, to take his distance from the operation.

As part of the recent transition to ‘Spice Club’, Saqib steps further away from the project, giving up his access to the treasure.

Meanwhile, Kortelin has indicated on Discord that the book has “no willing buyers” at this time, although that may change ahead of the planned sale next year. Either way, the book is unlikely to reach its original sale price – which was unusually high for an edition of the dune bible, perhaps thanks to the hype around the crowdfunding campaign.

“I really wish this worked out better, the DAO illusion was at its peak when the community embarked on this journey together,” Saqib said on Discord after the liquidation operation began. “At least the DAO makes people whole and doesn’t let pride get in the way.”


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