• Thu. Aug 11th, 2022

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The Spice DAO Crypto Collective Wants to Sell Its ‘Dune’ Bible – But Can’t Find Buyers

Remember the Spice DAO? They raised $3 million to buy a rare copy of a proposed film adaptation of Dune, “allegedly with the misguided idea that owning the book would also grant them the rights to its content,” Morning Brew reported back in January. Their ambitious goal was to make the Dune bible public, before producing an animated series and supporting community projects.

But now they’re just trying to sell it, in what they’re calling “Redemption Phase One” — although project lead Kortelin indicated on Discord that the bible currently has “no willing buyers,” the Verge reports:

After a series of setbacks in an ambitious plan for a crypto-powered media studio, the group is letting people who hold its $SPICE token cash out by withdrawing 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 cut its upkeep expenses to the bare minimum, a process that includes handing off the fragile and valuable book that inspired its creation.

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

Thanks to long-time Slashdot reader UnknowingFool for sharing the story!

Read more of this story at Slashdot.