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PleasrDAO

PleasrDAO is a decentralized autonomous organization that purchases and collects what they consider to be "timeless and priceless mementos of digital and crypto culture".[1] Each member of the DAO holds a token that represents a fraction of the group's treasury and an equal say in group decision-making.[2][3][4]

On June 9, 2021, PleasrDAO purchased an NFT tied to an image of the Doge (meme) for over $4 million in an auction that took place on Zora (NFT Marketplace).[5][6]

Overview

PPLPLEASR x Uniswap V3 NFT

PleasrDAO was initially organized on Twitter in March 2021 in order to purchase Pplpleasr's genesis Non-Fungible Token (NFT). The animation, titled x*y=k, was created to celebrate the Uniswap V3 launch, and all proceeds from the auction aimed to benefit Asian American and Pacific Islander communities, among other minority groups. PleasrDAO’s 110 ETH offer started a bidding war causing the NFT to almost triple in price in less than an hour before the winning bid of 310 ETH. The final 15 minutes of bidding alone brought the price up over $100,000.[7] PleasrDAO purchased the NFT for 310 ETH (~$525,000 at the time).[8][9]

After the first purchase, PleasrDAO deployed a token and distributed $PEEPS pro-rata to those who contributed.[10]

Edward Snowden NFT

The next NFT collected by PleasrDAO was Edward Snowden's Stay Free NFT on April 16, 2021, for 2,224 ETH (~$5.5 million). The proceeds went to the Freedom of the Press Foundation, where Snowden serves as president.[13][14] After Stay Free, PleasrDAO distributed $PEEPS to new members.[15] Initially, PleasrDAO did not have enough to win, but a loan of $2.5 million was sent to their multisig wallet from an anonymous DeFi legend with only 4 minutes left on the auction.[16]

In May 2021, PleasrDAO purchased Itzel Yard's "Dreaming at Dusk" for 500 ETH (~$1.1 million) in an auction held by The Tor Project.[17]

Another PleasrDAO's purchased pieces include "Apes Together Strong", "ETH bruh", "すごい!!!", "数人が理解" by Pplpleasr, "Dank Elon" by MCE, "All Aboard - Card" and "Safe Keeping" by bluekirbyfi, "Andre Cronje Common" by posternutbag, and "Coordinating x*y=k" by Bankless.[18]

Doge Meme NFT

On June 9, 2021, PleasrDAO purchased an NFT tied to an image of the Doge (meme) for 1,696.9 ETH (over $4 million) in an auction that took place on Zora (NFT Marketplace).[19][20] The PleasrDAO's bid made Doge NFT the most expensive meme NFT of all time.[21] The meme was first put up for auction on June 8, 2021, by Atsuko Sato, the owner of Kabosu, the dog from the Doge meme image, and ran for roughly three days before being sold to PleasrDAO. A bidding war for the meme broke out on Zora, where Doge was being auctioned, between users twodollahotdoge and pleasrdao on June 11, driving up the price until PleasrDAO prevailed with the winning bid.[22][23][24]

A portion of the proceeds from the sale of Doge will go towards the following charity organizations: Plan, Terra Renaissance, Florence, Japanese Red Cross, World Food Programme, Ashinaga, and Japan Heart.[25][26]

Team

The DAO was initiated by PoolTogether co-founder Leighton Cusack in March 2021. Other team members include Alex Svanevik, CEO of crypto data platform Nansen, Calvin Liu of Compound, Tarun Chitra of Gauntlet Network, and Andrew Kang of Mechanism Capital.[27]

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