With the DAOs that are more straightforwardly just financially motivated, like real estate DAOs or the constitution DAO where people pooled their money and attempted to purchase the constitution, a lot of these vehicles are giving people access to assets that normally only the ultra-wealthy would have access to. From your experience, do you see these as tools that can really help people build wealth with very little or gain access to building generational wealth?
I think if future generations are built on community, it's giving everyone generational wealth. I think that if we think about generational wealth as like my single lineage, which is how we traditionally think about it, no. Because you're buying into community assets. So you have to take the entire ethos of Web 3.0 as community-based. And if you think about it that way, and you think about the future that way, and you sort of reverse engineer the future of your own lineage as being intertwined with the future of other people's lineages, you are absolutely building generational wealth by being a part of these DAOs that are largely financial instruments. I mean, you brought Constitution DAO, which is incredible. ApeDAO is also, I don't know if you're familiar with their use case scenario that's going on...
They own a couple of the Bored Ape Yacht Club NFTs, which in case your readers don't know are like the blue-chip NFT right now, like upwards of a quarter-million dollars to get in at this point. So they own a couple of those, and the price of the actual NFTs is increasing, but the value of the token attached to the DAO is not increasing at the same rate as the artwork. So the value of what they're holding is increasing but none of that value is actually being trickled down to the voting numbers of the DAO until very recently. They did a public vote, which is a large part of DAOs, that's how we keep them decentralized. We vote on blockchain. So a number of people, I believe it was the majority, voted to liquidate and to actually sell off some of these NFTs so that members can start seeing the money.
It was a very big deal, obviously. Because it's the concept of like, where's this money right now? There's a disconnect between the asset itself, I should say, and the token that we're actually bought into, right? Because these people are realizing that they're not actually bought into the NFT, they're bought into the entity that owns the NFT, and the entity that owns the NFT is getting richer, but there's a translation problem with what they're holding in their hands. And so I think that will potentially start to be an issue for these real estate DAOs and for these other financial instrument DAOs where like, yeah, the real estate, the building might quadruple in worth in the next five years or something, if it's in a hot market. But what will the coin do? Because the coin is actually what you're holding.