Originally published at: That crypto DAO with no apparent concept of IP rights now seeks to unload its copy of Jodorowsky's Dune | Boing Boing
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“It will change its name to “Spice Club,” […]”
That’s just bound to be already taken by a Spice Girls fan club.
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Fits the MO.
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Not like we needed the confirmation; but it’s good to see that glorious immutable blockchain has no effect on your ‘decentralized autonomous organization’ decide that its ‘governance token’ no longer need be an impediment and that it’s just a club now.
I’d offer $50 for the book, it looks neat.
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Dan Olson, of Folding Ideas on youtube, has a great thread on this from a few days ago.
Big, “who could could have seen this coming” energy.
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[Fry shocked.gif]
I mean, did anyone expect anything else from this? Web3 is delusion all the way down.
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doubts about whether the book could be auctioned for anything remotely approaching its purchase price of roughly $3 million
LOOOOOL. It sounds like they got into a bidding war (though somehow effectively with themselves) when buying the book and inflated the price 100-fold. A “reasonable” price (in line with other sales) would be more like $25k. Unless they find a credulous idiot (who at best will still only give them a fraction of what they paid), they’re basically out all the money they put in (as the one percent they recover will be entirely eaten by fees).
You can find it online for free… (which legally gives you the same rights as a copy, too!)
Honestly only surprised they’re trying to sell it. It’s worth <1% of what they paid for it, so they’d be better off keeping it and pretending it has some value until everyone forgot about it, rather than selling it and losing everything.
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Dude, we can do that on the internet without blockchain, and it has been going on basically as long as the internet has been around.
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for profit, legally.
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That’s fine they can just use their backup name Spice Channel.
Wait, that’s WHAT?!
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Obviously the only solution now is to start fundraising for the new original web comedy series based on the hiLARious roller coaster ride, amirite?
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If it’s not a Spice Girls fan club, it’s short for the Spice-of-the-Month Club which is a monthly subscription service that sends you a container of saffron, grains of paradise, or other unusual flavorings.
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Today’s Word to the Wise: Trader Joe’s saffron costs $500/ounce. Amazon sells fine quality saffron (source Spain) for $44/ounce.
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Hmmm, a credulous idiot, invested in crypto, doesn’t read the details…. C’mon Elon, you’re already in for $43 billion.
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I’m not sure even Elon could get stoned enough to fall for this. (At the very least, once he sobered up, his high-price lawyers would get Elon out of paying anything to anyone.)
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Yes, but by paying $3M, you can own the very book that is famous for having been purchased for more than 100 times what it’s worth by a pack of clueless idiots. It’s a unique collectible! With guaranteed non-fungibility!
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With the right corporate tax accountant, taking a loss that size could roll over for many years worth of tax filings before it’s exhausted. In fact, I suspect that with a little magic tax dust a company might just choose to creatively purchase that loss for a much greater value than the book itself. But then, high powered corporate tax accountants tend to cost real money, so that could throw a spanner in the works.
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Who would expect that a … body defining itself with this list of three words that all contradict each other might not have a clear understanding of itself or its mission 
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These guys are more in the “we don’t pay taxes, that’s why we do crypto” crowd. They don’t , aren’t, and haven’t paid taxes on this venture thus far. I don’t reckon they’ll start.
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