The Palm Treasury

How is the Treasury funded?

The treasury is funded through periodic grants from the Nifty Island core team.

Additional funding is generated through royalties from the Nifty Island Legendary Pistols and Ultra Blade collections.

A Legendary Palm treasury is used to make like kind swaps in exchange for new NFT inventory and commissions.

Criteria For Investing In New Projects

PalmDAO buys NFTs with the intention of holding them for the long-term. We look for projects with the following qualities:

• long termist

• non-derivative

• active interest in the metaverse

• good ethos

• differentiated

How PalmDAO Acquires New Inventory

PalmDAO acquires NFTs either from its ETH treasury or via like-kind swaps from its Palm treasury. Palm holders are able to make proposals to acquire NFT inventory, which are then approved or denied by the elected palm council.

Proposals can take the following forms:

1. Bid or purchase of a specific NFT(s): Proposer includes links to one or more specific NFTs, indicating the max bid PalmDAO should offer or ask price it should pay.

2. General proposal to acquire items in a given collection: Proposer includes a suggested collection to acquire inventory from and any preferred attributes the DAO should target. Proposer can suggest a max spend amount and number of NFTs to be acquired.

3. Expedited async proposals: Sometimes a time-sensitive acquisition opportunity may arise. The Nifty Island team representative is authorized to make acquisitions up to 1 ETH, provided:

   • The acquisition doesn’t interfere with the budget of any other approved acquisitions

   • At least one other council member approves before purchase

   • A retroactive proposal is submitted on Snapshot.

In all cases, the Palm Council can approve the proposal, deny, or approve with amendments, especially in cases where information is missing from the proposal.

Palm Council may appoint a member of the council to oversee the acquisition and give them authority to use their best judgment in acquiring new NFT inventory within the constraints set by the proposal itself, which may be broad. The DAO is generally a long-term holder with the objective of acquiring great inventory and building novel assets inspired by it, not flipping.

Artist Collaborations

Are you a 3D artist that can create high quality avatars and other game ready assets?

We are looking for artists from whom we can commission work—either as new inventory or metaverse derivatives of existing inventory.

GameFi & NFT Governance Token Collaborations

We are interested in GameFi and NFT governance tokens which have a complementary value proposition to Nifty Island.