HeadDAO

"Welcome to HEAD DAO. The nth DAO to exist. We fractionalize blue chip NFTs, instead of just cool cats."

This project is madness, actual madness. So let me explain how I came to be part of HeadDAO.

As mentioned previously I am in the UK and a lot of these drops happen on American time so i'm usually awake until the morning, this time was no different. I was laying on my bed at 2am waiting for a 1/1 drop to happen, I had 0.11 ETH in my wallet and I was ready to go. After frantically refreshing my browser and after some shenanigans from OpenSea I found out I had missed out and someone else had bought it, I stayed up for nothing...or so I thought.

After suffering the disappointment that you get from missing out I scrolled through Twitter for a while trying to find some positive news when I stumbled upon this tweet from RiceFarmerNFT

Normally I advise against jumping into a purchase with no information about the project but I was still in the mood to buy something and I wasn't going to bed until I spent that 0.11 ETH!

I went to the minting site, the numbers were going up quick so I knew I had to act fast, I wanted 2 but it was just out of my budget, I set gas to high and hoped for the best. I stared at the transaction on etherscan and eventually success was mine, I had minted HeadDAO #9329

Now I had bought one I had to find out what I had actually bought, I started my Twitter research and found out that this project was created by a guy called Shamdoo, I say guy, he's 16 years old.

Now most people would read that and panic, what the hell had I just done investing my money in a project from a child! Not me, I imagined a kid in his room with his parents downstairs shouting that he's always on the computer and needs to get outside not knowing that he's just sold 2 million dollars worth of virtual property. It actually blows my mind but it's such an incredible story I'm happy to be part of it.

The DAO itself promises 80% of OpenSea royalties to the community wallet which apparently is the highest percentage returns of any DAO so far. 440 ETH was transferred from the mint alone and the volume has been insane since then, it only took about 36 hours to reach 1000 ETH trading volume, which meant more money for the community!

There were promises of using the money to buy notable NFTs like BAYC and CryptoPunks, some people were sceptical but after a quick community vote Punk #2888 was purchased for 99.9 ETH, promises made and promises kept! Right now the community has a couple of hours left to decide which BAYC to buy so the DAO is really making some big moves and getting a lot of attention. They say that by buying "Blue Chip" NFTs it will give them more leverage for collaborations and future partnerships which seems a smart thing to do.

The team consists of 3 people according to the website and there are links to each ones Twitter account, no anonymous shady devs that can't wait to pull the rug and move on to the next project. If you have an issue you can take it to them straight away. Shamdoo seems to be the lead and for a 16 year old he shows a surprising amount of experience and so far has handled the launch and community really well, so hopefully that continues!

The community is pretty crazy, Discord is lively and not long ago there was about 10 minutes of attempted FUD to drive and get the price lower so they could buy more, during this time the price went up so maybe HeadDAO is FUD-proof? There is a lot of hype around this currently and although I'm usually pretty wary of hype this attention seems well founded and organic, I haven't seen this much genuine interaction in a long time. There are currently about 6500 members on the server and this is growing fast. Obviously there is a lot of talk about floor price, it has risen pretty quickly and is currently around 0.36 ETH, my 0.102 investment is looking pretty good so far! It had hit around 0.42 for a while and dropped as low as 0.33 but it's still early days and is finding it's place in the market although I would expect this price to keep rising as the community votes and more Blue Chip purchases are made.

One of the major promises is staking, due to go live in 2/3 days you will be able to stake your Head and receive $Head token in return. To start with stakers will be rewarded with 10 $Head each day. The utility of the token ranges from access to digital and physical goods, whitelist access, swap for exclusive NFTs, and even to buy official merch. With the possibility of fractionalising NFTs in the community wallet there is potential future use of buying in or cashing out parts of your share of the holdings.

Right now we are not even 48 hours into this journey but with the anticipation and expectation sky high and a community wallet that has buying power rarely seen from any DAO there is a lot of promising signs for the future. The community is supportive and involved and the team look like they know what they're doing so the development of this project is fast and in the right direction. I would recommend having a look at this project and if you can afford to then consider buying. 

Now on to the next achievement... 1 ETH floor!

HeadDAO Socials:

Website - https://headdao.com/

OpenSea - https://opensea.io/collection/headdao

Discord - https://discord.gg/2JJnA8Czr5

Twitter - https://twitter.com/HeadDaoNFT