Here's Why Spice DAO Spent $3 Million USD on Purchasing An Original Dune Book
100x its estimate, It could be a very costly mistake.
A decentralized autonomous organization known as Spice DAO has just reportedly paid $3 million USD for an original 1975 copy of Dune.
Selling for roughly 100 times its estimate, well over its market value even if you factor in the success of the film reboot, a series of tweets is leading users to believe that Spice DAO thinks it gives them the rights to the story.
In two of its goals from purchasing the book, it indicates that they will make the book free to the public, and produce an animated limited series to sell to a streaming service, as well as NFTs. The issue with this is that the book is already free online, and buying the book would not legally give them permission to create an animated series based on the story. As on user points out, buying a Spider-Man comic would not mean the purchaser could then start making his own series based on Spider-Man.
Check out the listing for the book over at Christie’s and see the tweets below.
You bought a collectible for 100X estimated value. Do you think if you bought a Spider-Man comic you could start making Spider-Man movies as well? pic.twitter.com/hKDzwn0xN2
— Journalistic Facts (@JournalistFact1) January 16, 2022
In other NFT news, Walmart could start offering up cryptocurrency and NFTs.
