MetaCartel Ventures, one of the latest industry players that will enter the journey of decentralized governance. Peter Yuan Pan announced the launch of the new organization which is decentralized and will invest in the Ethereum ecosystem so let’s find out more in the upcoming ETH news.
The MetaCartel Venture is really difficult to trace. What started as a project focused on Meta transaction technologies in the blockchain space, evolved into a funding engine for Ethereum dapps. These steps manifested in the first fork of another DAO experiment called the MolochDAO. Both Moloch and the venture fund are experiments that use crypto-native business models to provide funding for projects in the ecosystem.
Moloch has granted more than $120,000 in resources to 17 different projects and MetaCartel did a lot of the same grants-giving in July 2019. The grants have supported a lot of blockchain-based conference ticketing and meetups along with DeFi business models for Dapps and several other initiatives. In the latest experiment, MetaCartel launched the MetaCartel Ventures which is ‘’a for-profit investment DAO coupled with a legal entity.’’
MCV combines a smart contract standard on Moloch v2 with a Delaware-based LLC and this is governed by both the Limited Liability Company Agreement and the Delaware Liability Company Act. It’s easy to understand the legal aspects of the venture by simply looking at the partnership agreements that are found in multi-member LLCs since the DAOs are instantiated through their communities and the organization is operated as a multi-member LLC so the members are voting stakeholders. DAOs enforce these agreements via code supplemented with contracts.
The MCV fund leverages more than 800-member community of founders, developers, and investors to position themselves higher and to deploy capital within a series of Ethereum dApps. These dapps are spread across NFTs, tokenized marketplaces and gaming all via the Ethereum ecosystem. In short, MCV has all features of a traditional VC fund but lowers the barriers to entry for those who want to participate. If offers the experts working with the cutting edge technologies providing an opportunity to invest in the same advancements. The paper ads:
“If paired with relevant investing experience, we will be able to identify high-value early opportunities that other investors are oblivious to.”
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