24 February 2023 19:47, UTC
Reading time: ~3 m
A group of NFT enthusiasts are trying to buy the winning key from Yuga Labs’ endless runner game Dookey Dash and have placed an eye-watering $1.1 million bid on the asset.
Yuga Labs is the $4 billion company behind the Bored Ape Yacht Club and also owns the Crypto Punks NFT collection. UpDAO is the collective behind the winning key bid, which has not yet been accepted by the current owner, 18-year-old Fortnite streamer Kyle “Mongraal” Jackson.
Mongraal has listed his key NFT for 2,222 ETH, which is about $3.5 million. UpDAO is connected to Pixel Vault’s Inhabitants Universe, an upcoming Web3 game with NFT characters. It has placed a bid on Jackson’s key of 690 WETH, or Wrapped Ethereum (which can then be converted to ETH or another equivalent asset).
A DAO is a decentralized online community that typically pools funds in a shared wallet and votes on where that money should be allocated. UpDAO currently has about $24.4 million in its community treasury, which means this bid represents roughly 5% of its assets.
BREAKING NEWS: #UPDAO MAKES A 690 ETH BID ON THE GOLDEN KEY!!! 🔑🔑🔑@Mongraal, THE BALL IS IN YOUR COURT.https://t.co/u5lUEbev19@BoredApeYC, LFG!!! #dookeydash https://t.co/QEqNfkKrBF
— UPDAO (@UPDAO_) February 23, 2023
There’s only about 48 hours left for Mongraal to accept or ignore the bid. Mongraal has not yet responded to Decrypt’s request for comment on whether he’s actually considering accepting UpDAO’s bid.
UpDAO’s bid has attracted some criticism, however, with one Twitter user arguing that the bid is a waste of funds.
“If this is what DAOs choose to do with 1M USD then I find the future of DAOs to be highly suspect, but that’s just me,” Web3 designer “Punter” wrote.
PixelVault’s Head of Communications David “economist” Litsky replied that the community does have plans for the Dookey Dash key should UpDAO successfully acquire it.
“PV is incubating a decentralized gaming protocol that anyone can build on. The rumor from the community is they would potentially vote to put this 1/1 asset up as a tournament prize for games built on the protocol, thus, helping to spread more awareness,” Litsky said.
Yuga Labs has not yet announced what the Sewer Pass rewards will grant holders, but some community members are speculating that each key unlocks an in-game mech or wearable robotic suit in Yuga’s upcoming Otherside metaverse game.
Gary the Dog Prophet licked a toad, stumbled into the swamp, and returned with this sketch he’d made. No idea what it means. He says it’s “The Future.” pic.twitter.com/RDog6i4t3r
— Bored Ape Yacht Club (@BoredApeYC) January 19, 2023
Dookey Dash in its original form is no longer playable. During its run, some Sewer Pass NFT holders hired paid “boosters” for thousands of dollars to play on their accounts in the hopes of getting a high score. The game also saw rampant cheating, which Yuga condemned in a series of tweets and public statements.
Now, Yuga fans are playing the “Toad” game mode—and the boosting is showing no signs of slowing down. Even Mongraal himself has publicly advertised that he’s taking money to play on other user’s accounts in the new game to get them higher scores. Recent transfers to Mongraal’s wallet suggest he may be charging 2.6 ETH ($4,150) for boosts.
Bored Ape Yacht Club NFT Sales Spike Ahead of Yuga’s Dookey Dash Game
One Yuga Labs community member told Decrypt that other boosters are currently charging 0.5 ETH to 2 ETH (about $800 to $3,200) for a boost in the latest game mode.
Yuga has remained tight-lipped on what rewards the Sewer Pass NFTs will unlock—with a reveal planned during a “Summoning” event scheduled for March 8.