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In this article we discuss two new DAOs that are creating communities around NFT acquisition. When people say “I can’t believe you paid so much for that NFT”, they don’t realize that communities form around these. Paperclip DAO & PartyDAO begin to show that you aren’t just buying art, you’re buying into and creating a culture/community.
- NFT Slate contributor Bluecane
PartyDAO created Party Bid & it went live August 4th, which seems like forever ago in crypto terms but is less than one month old. Party Bid allows you to team up, pool capital together and take place in NFT auctions as a team. As we’ve all probably seen, these auctions can get to some pretty big numbers, so a lot of smaller players were left out. By leveraging PartyBid, you can create a team of friends and/or strangers(new friends!) to win an auction.
PartyBid has a fun and interactive website where you get to see the mouses of everyone else on their website. I definitely suggest playing around on it -
With Partybid, there is no minimum that you have to contribute, whether it be $1 or a $1 million dollars, you can contribute and be a part of the action. If the party wins the auction, then the people who contributed ETH to the winning bid get a proportional amount of tokens, representing fractional ownership of the NFT. All of this is done through fractional.art, which has opened up loads of use cases as we’ve seen in the past couple weeks!
If you own 5% of the tokens, you have a 5% weighted vote on what the reserve price of that NFT should be whenever it eventually gets sold.
The idea started out around the Mirror community and of course some twitter threads. Party Bid was crowdfunded by people from the Mirror community, a discord channel was created (of course) and then the building began.
What interests me about PartyDAO is that now unofficial DAOs can compete against actual DAOs. So if let’s say if @PleasrDAO was competing for a piece, now another unofficial group can compete with them for the piece as long as someone starts at Party at PartyDAO.
Farokh @farokhIF the part bid wins this 1/1 NFT, I am committing to not only hosting the charity the party bid decides on and I will be hosting a room/space for the person who has the most amount of ETH pooled! 🕺✨ https://t.co/V35SxLZMCo
One thing I really like about this is the possibility of getting into a fractional piece at a good price point or without gas issues. I tried (unsuccessfully) to buy part of Etherrock #72 on fractional art at a very early price point, but because of so much interest at one time etc, I had hundreds of dollars of failed transactions/gas fees gone.
PartyBid can allow you to be much earlier to price discovery for some of these fractional pieces.
This is an interesting idea started from the original game Paperclip trading which was inspired by Kyle MacDonald trading from a paperclip to a house in a series of fourteen online trades over the course of a year.
Which is wild, so of course some big brains decided to do the same concept for NFTs.
This ideas was possible because of sudoswap.xyz, another pioneering platform that allows for direct NFT to NFT trading. This technology has yet to take off in the mainstream but in my opinion will be huge for big collectors in the future that don’t want ETH and have a particular piece in mind.
The first trade was for an Earthen Concept Parallel Card, only two are for sale out of 5 on Opensea and the minimum price is 480 Ethereum. So wow, big time trade here.
PaperclipDAO 📎 @PaperclipDAOHi @bitcoinPalmer 👋 Care to DM us which address we should send some $CLIP to? Thanks for trading and making history. 🖇😘 cc @ParallelNFT
Now @bitcoinPalmer will be sent some $CLIP, the first trader gets the most $CLIP and after every trade, the trader gets less and less of the token. They say there’s some interesting twists and turns as far as token distribution. This is all completely new, so as long as they are fair to the community, they can take this in a lot of creative ways.
PaperclipDAO 📎 @PaperclipDAOhttps://t.co/7gZOCTRpoZ
The second round ended up being for a Cryptopunk and a % of one of the rarest Meebits. What I really like about PaperclipDAO is that now they are slowly building a community, BitcoinPalmer & now @cjliu49 are both invested in the PaperclipDAO community.
I just realized this but you can click and start the video without even leaving this email, click on this video below to hear Jackson Dame talk about the community building aspect of Paperclip DAO & other NFTs.
What is so cool about Paperclip is that you get to see lots of variety when it comes to the NFTs because anyone can offer. Here are a couple crazy options people offered, some stuff I hadn’t even heard of.
If you have something crazy to offer to trade, go out there and do it. The PaperclipDAO is full of talented people and can be a fun way to leverage your NFT holdings.
With new technology comes new possibilities. Sudoswap and Fractional.art are two platforms that allow PaperclipDAO & PartyDAO to work as well as they do. As new technology comes about, like Pawnfi, a platform that plans to let you collateralize your NFT assets, new DAOs and possibilities will come about.
Take advantage of these new platforms, build communities and support good artists/innovators.
PaperclipDAO twitter: https://twitter.com/PaperclipDAO
PartyDAO twitter: https://twitter.com/prtyDAO
Long form interview on PartyDAO: https://zine.zora.co/party-dao-interview
Introducing Paperclip DAO: https://s.mirror.xyz/QaEoyCiz2tsBBF58BN_vPulDXk3tuEKsQ4ttV9zCYvA
⚠️ DISCLAIMER: Investing into NFTs comes with inherent risk including technical risk, human error, platform failure and more. At certain points throughout this post, we might get commission for promoting certain projects, if this is the case we will always make sure it is clear. We are strictly an educational content platform, nothing we offer is financial advice. We are not professionals or licensed advisors.
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