UPDATE: Vinnie Paul's house has been sold to… someone. The original story is as follows.
The Arlington, TX home of the late and great Pantera (and Hellyeah, and Damageplan) drummer Vinnie Paul hit the market a few days ago for $750,000. I joked at the time that unlike Gene Simmons' Las Vegas estate, you can't buy this one with cryptocurrency. Except I made that joke too soon because Avenged Sevenfold vocalist M. Shadows wants to do exactly that (in a more roundabout crowdfunded-type of way).
In a thread on Twitter, Shadows laid out a plan that he and Avenged Sevenfold guitarist Zacky Vengeance came up with to create a DAO (decentralized autonomous organization) to purchase the home. Shadows explained that essentially people would buy, in his words, a "Token (NFT, it's that word)" representing a certain amount of ownership in the home to raise funds for the purchase. Then everyone would have a say in what happens with the home.
Shadows said he and Vengeance came up with this plan in order to preserve the legacy of Paul, and they're open to discussion about how this would all work.
"Vinnie Paul's house is for sale. The place was legendary by all standards and it will be a shame to see it bought by a developer or a non fan. So, what does that mean? What happens now? What if we started a DAO? A thread…??
"So [Zacky Vengeance] called me today and showed me the news of this legendary property being put on the market. This is the place where any musician that came through Dallas would come after a long night at Vinnies famous strip club or after the shows. Musicians, actors… you name it… It was like the 'Graceland of Heavy Metal.' We have been many times. So Zacky suggested a DAO purchase it… DAO stands for 'decentralize autonomous organization.'
"What that means is that fans of Vinnie Paul's legacy would be able to purchase a token that represents a portion of this home. The Token (nft, it's that word) sale would raise the money to purchase the house. After that, Token holders would have governance and a vote over how and what actions will be taken by the committee. Do you fix up the roof? Do you use it as a rental to other fans like an Air BnB?
Do you turn it into more of a museum of Pantera artifacts that token holders and fans get to enjoy? That's not up to me or any individual… it's up to the DAO. Own a token and get a vote. Here is how I see it…
"Option 1: Someone that doesn't give a fuck about Pantera buys it and lives in it, remodels or tears it down.
"Option 2: A Pantera fan buys it, lives in it and treats it as their own personal trophy.
"Option 3: The Pantera community buys it, governs it and decides what's best for the legacy of this important piece of Heavy Metal History. Anyway, this may sound crazy to some… and if I'm way off I'd love to get opinions. I'd love to discuss it and hear another side."