Due to the CryptoVenetian distribution model, we don’t have a portion of primary sales to fund SubDAO treasury like in other cities. Instead, we can raise funding through auctions for nighttime CryptoVenetians that were recovered from the heist.
- We recovered 240 stolen CryptoVenetians and the distribution strategy is discussed here.
- 80 of the 240 were “reserved for the benefit of the Venice Beach IRL community”.
- CryptoVenetians are currently trading at a premium due to their scarcity and people collecting “full sets” to be eligible for the Mint Pack eligibility in the upcoming DA.
- We set aside a budget of 30 ETH from the Berlin Golden Token sale to help fund the Berlin SubDAO. This money was used to secure a physical location and pay rent, as well as cover operating costs for the gallery. This is our “baseline” for the SubDAO setup, although expenses vary by city.
- We need to raise money to cover the operating costs for a Venice SubDAO. One way to do that is through the sale of recovered nighttime CryptoVenetians.
- Auction 10-20 nighttime CryptoVenetians for 2 ETH each prior to the Dutch Auction, raising ~20 ETH for the Venice SubDAO treasury.
- Launch the signer application process to give control of the treasury to local members of the CryptoVenetian community.
- Work with the Core Team to budget the cost of an ongoing gallery space in Venice after November that is sustainable based on our weekly gallery shows and limited release drops.