He INVESTED $1.7M in NFTs. Here’s Why 🤑 #shorts

5 Jul 2022 · 1 min

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In a brief interview, Speaker A asks how the $1.7 million invested in NFTs will be used. Speaker B explains that the funds were funneled back into the Magic Mushroom Clubhouse to launch a large‑scale community event called “Shroom Scouts.” The event mimics Boy Scout badge‑earning, with each badge teaching a Web3 or decentralized‑community principle. The first participant to collect all five badges would win a $50,000 prize, and the first 150 badge earners receive an “ancient shroom” token that grants voting rights in the project’s DAO. The initiative’s purpose was to educate users about active participation in decentralized governance and to seed new ventures. According to Speaker B, the program succeeded, spawning dozens of businesses and attracting notable figures in the crypto space.

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How do you look at the, the $1.7 million? Like, what do you plan to do with that? Like, you pocket it? Like, what's the move here?
Oh yeah, so for the Magic Mushroom Clubhouse, we reinvested that quite heavily. And so we did this big old event called Shroom Scouts, and because like a group of mushrooms is called a troop, so we leaned into the Boy Scouts method, and every badge is like teaching you like a principle in a Web3 decentralized community. And basically the first person to collect all 5 badges was going to win $50,000, and on top of that, the first 150 would actually get like an ancient shroom, which is basically a token to vote in our DAO for governance. And so the whole point of that was just to teach people that they could participate and add to this community, just like me, a project founder. And I think it was a huge success. We've had probably dozens of businesses come out of that, and many, many other notable people in the space all came from the Magic Mushroom Clubhouse.