The First Ever MonkeDAO Vote

Solana has a thriving NFT Marketplace, making it the second most popular NFT Marketplace on OpenSea. Apart from having its own marketplaces in the Solana ecosystem, NFT marketplaces like OpenSEA are introducing a separate section for showcasing and selling Solana NFTs. Solana’s Monkey Business collection is the most popular NFT collection among hundreds on the platform. The SMB team created this collection, and the NFT collection collectors have set up a DAO called MonkeDAO.

They have been getting along very well, and they have been a driving force behind the growth of not only the SMB collection but also the entire NFT ecosystem on Solana. The two parties had a small dispute a few weeks ago about benefit-sharing, especially when it came to who should get the artists’ revenue.
Social media has been flooded with posts about the squabble between SMB and MonkeDAO. Therefore, there was a situation that forced MonkeDAO to hold a voting in order to decide whether to stay together or part ways by forking the SMB NFT collection. This group of voters decided to keep the project together and resolve the issues through dialog instead of splitting it. In this post, we will analyze the voting behavior of SMB NFT collectors

Among the 1,500 plus voters of MonkeDAO, overwhelmingly 95% of them choose to vote Yes – to signal their intent to stay together and not to fork the SMB NFT project. The rest of the 4.5% (roughly 66 members) voted to part ways and fork the project. The wisdom of the wisemen prevailed and luckily the group stayed together.

The following chart shows daily voting pattern of SMB voters on the proposal. If you see the charts, most of the of the voters who decided to split casted their vote on March 4th, though the majority of 750+ voted to stay together on Feb 25th and Feb 26th.

Lets look if there is any correlation between ownership of SMB NFTs and their voting decision of whether to stay together or part ways. The chart below shows the number of SMB NFTs owned by the voters those who voted Yes vs those voted No. As you see in the chart, 63 SMB NFTs were owned by the voters who voted Yes, where as only 3 NFTs were owned by those who voted No.

Though it is a bit difficult to conclude if there is a correlation as the there were overwhelming voters who voted YES, which were about 95%

Did Voter Purchased More SMBs After The MonkeDAO Vote?

Though there was a bit of drama and potentially forking the project and the SMB community, the end game was a happy one. The majority choose to stay together and also this vote demonstrated how much conviction the team has. This also seems to propelled the voters to buy more SMBs as they see huge potential for owning the NFTs.

Those who voted Yes has purchased 44 more SMBs and those who voted NO did not purchase any SMBs.

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