The Dune bible crypto collective wants to sell its Dune bible

Image: Spice DAO

The Dune bible will no longer be a collective and will be trying to sell it.

A fundamental shift in its direction has taken place with Spice DAO. People who hold the $SPICE token will be able to withdraw their money from the group's treasury. TheSpice Club will change its name to a members only group. It will cut its upkeep expenses to the bare minimum by handing off the book that inspired it.

The Spice Club might give returns to members who hold $SPICE. The group wants to make money from the sale of the book and non-fungible token. There are doubts about whether the book could be auctioned for anything close to its purchase price of $3 million, as well as legal questions surrounding the use of $SPICE and other token types.

The group plans to sell the Dune bible in the fourth quarter of 2023, just in time for the movie Dune: Part Two. Frank Miller Presents and the group previously collaborated on an NFT series. The legal language is somewhat cagey, but any remaining $SPICE holders could get a share of the treasury. Project lead Kortelin noted in the Spice Club that the team was being careful in anticipation of possible regulation. They can burn their $SPICE and withdraw a small amount of ether. According to the group's treasury, it has a net worth of $1 million.

Spice Club was ambitious and one of the manycryptocurrencies. After winning a November 2021 auction, it ended up with a multimillion dollar treasury. The goal of the DAO was to maintain the physical condition of the Dune book, find a way to distribute its contents publicly, and produce media similar to Jodorowksy's never-made adaption of Dune. The first task was paid for with treasury funds. It paid for a script from Love, Death and Robots writer Philip Gelatt, as well as funding a contest to find stories that could be turned into a TV mini-series. These projects as well as the Frank Miller NFTs were put forward by a small core team and then passed by a vote of people who had purchased ICE token.

The group ran into a number of problems after the auction. It wasn't easy to make the Dune bible available to members. The bible was bought by the group before the crash that decimated its treasury, which was mostly held in ether. The project's original figurehead Soban "Soby" Saqib distanced himself from the operation after one of the founding members stepped down.

Saqib is giving up his access to the treasury as a result of the transition toSpice Club.

The book has no willing buyers at the moment, but that could change before the planned sale next year. The Dune bible is unlikely to reach its original sale price due to hype around the crowd funding campaign.

The community went into this journey together and Saqib said that the delusion was at its peak. People are being made whole and not letting arrogance get in the way.