We’re at the intersection of many radical changes in business as Web3 matures, and we need a DAO that brings together partners that are wholly invested in building equitable access to opportunities in the world of decentralized finance.
MIAMI (PRWEB) April 20, 2022
Web3-focused venture studio Decent Labs, GSR, BlockTower Capital, Cumberland DRW, OP Crypto, Digital Currency Group, 1kx, and others announce the close of their initial on-chain investment of $10 million to launch Decent DAO, valued at $56 million.
Decent Labs brings five years’ worth of experience helping to define decentralized application development on Ethereum and pioneering tokenization methods while always focusing on building publicly accessible, open-source financial tools that are sophisticated enough for institutions. Decent Labs has successfully navigated the transitions from CeFi to DeFi, and traditional company structure to DAO formation, as they have built products for companies such as ShapeShift, BRD, Sarcophagus, and more.
Decent DAO will be an incubator and seeding ecosystem to connect inspired talent to backers that are fully invested in the crypto industry and understand those who build it. Given all partners are crypto-native investment firms, Decent DAO will enable sustained participation from its governance members and serves as a platform for investors to ethically contribute to, but never dominate, projects utilizing funds raised through transparent, on-chain methods.
“The way people work and organize is changing, so venture building should change too. Decent DAO employs on-chain work coordination to ensure our members are genuinely engaged in supporting projects from inception to launch,” shared Parker McCurley, Co-Founder and CEO of Decent Labs. “We’re at the intersection of many radical changes in business as Web3 matures, and we need a DAO that brings together partners that are wholly invested in building equitable access to opportunities in the world of decentralized finance.”
Decent DAO’s core contributors are committed to redistributing the institutional knowledge gained from working with leaders in the cryptocurrency industry for over a decade to support the future visionaries of Web3. Decent DAO commits to only supporting open-source, decentralized systems that harness tokenization as the key economic driver while enabling any voice or contribution, however small, to be heard, accepted, and rewarded based on merit and the advancement of the DAO’s mission.
“Occasionally I come across a project and entrepreneurial team that makes me feel privileged to be an investor. It almost seems unfair that we get to make lucrative investments that also have the potential to create so much value for the world generally,” added Ari Paul, CIO of BlockTower Capital. “We’re proud to support Decent DAO. This is a team that’s repeatedly delivered products for decentralized finance for years. We’re excited to see how the incubator can grow in DAO form.”
“While Decent DAO will continue uniting sophisticated Web3 builders to seasoned investors, our main objective is to offer a similar path to all people regardless of technical prowess or socioeconomic realities,” explained Parker. “We hope to inspire those in our society who need this technology most to explore it, understand its potential, and maximize it to change the world for the better.”
The full list of partner investors follows:
Co-led by GSR & BlockTower
Digital Currency Group
Fourth Revolution Capital
Angel investment from:
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About Decent Labs
Decent Labs is a Web3-focused venture studio that aims to create a more equitable society by building groundbreaking projects with decentralization and transparency at their core. Since 2017, Decent Labs has incubated over 30 products in its design & technology agency, with customers including Celsius, ShapeShift, and BRD, the latter of which was recently acquired by Coinbase. Decent Labs now functions to identify gaps in digital financial markets and develop solutions from the ground up, from vision through development, design, launch, and scale.