A decentralized investment studio launched by Decent Labs, Decent DAO is a Web3 project incubator. Its role will be to help developers obtain financing and the technical know-how necessary to launch their projects. To this end, the DAO has just completed a financing of 10 million dollars to start its activities.
Decent DAO wants to connect investors and the best Web3 developers
Last year, Decent Labs initiated a $7 million fundraiser to propel projects developing publicly available financial tools. However, the company initially met with little success and decided that it would be more economical to launch a few key projects in-house. It has therefore reoriented its policy towards venture capital funds in the cryptosphere to obtain financing more easily. This second attempt having been crowned with success, Decent Labs decided to launch a decentralized investment studio for the development of Web projects.
Called Decent DAO, this will allow direct contact between talented developers and investors who understand the challenge of projects around the Web3 . The DAO just raised $10 million in funding from BlockTower Capital, Cumberland DRW, Digital Currency Group, GSR, 1kx, and others . " We are at the intersection of many sweeping changes in the business world as Web3 matures, and we need a DAO that brings together partners who are fully invested in advancing autonomous and equitable access to opportunities in the cryptocurrency industry ,” said Parker McCurley, founder of Decent Labs.
Privileged access to leaders in the cryptosphere and their know-how
Every six months, Decent DAO will select new projects to be developed and funded by the DAO. They will also benefit from the technical support of the main contributors of Decent DAO. It says its partners are committed to sharing the institutional knowledge gained from working with leaders in the cryptosphere to support groundbreaking Web3 projects. " Ultimately, our studio's goal is to create on-chain technology that is robust enough for institutions and accessible to anyone with an internet connection that is 100% free, open, and decentralized ," added Mr McCurley.
Decent DAO's mission is therefore an extension of the work done by Decent Labs since last year to promote the talent of web developers and their projects. These will now be brought to light with the support of DAO contributors and the institutional experience of key players in the cryptosphere.
Source: Decrypt
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