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Welcome to the 79th Edition of the FF Newsletter
In this edition:
▹ Team updates
▹ The State of Music DAOs by Water & Music
▹ Yuga Labs Acquires CryptoPunks
▹ Katie Chiou on DAOs <> Tokens
▹ US Executive order On Crypto
▹ Stripe Crypto Support
▹ Gitcoin Grants Round 13 is Live
▹ ... much more
Plus: What’s Poppin' / Market Pills & $SOCIAL Index Snapshot
Let’s get into it.
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The State of Music DAOs. If you only read one thing this week, make it this piece from Water & Music. The team dives into the state of music DAOs, but the insights are broadly applicable across much of the DAO space. From membership design to tokenomics to governance, there is an unbelievable breadth and depth of information in this report (and there are more coming out weekly about the web3 music space!). Huge shout out to the team! FANTASTIC REPORT 🔥
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ENS and the Limitations of DAO Governance. Last week’s ENS vote on the status of Brantly Millegan’s job at the ENS Foundation resulted in a negative vote – Brantly maintained his role. This was in large part due to the fact that other members of ENS’s core team abstained from voting, while Brantly did not. This piece from Will Gotsegen at Coindesk asks whether the ENS situation brings to light the limits of DAO governance, and whether new models are necessary to ensure problems like this do not exist in the future. THE JOURNEY IS LONG 🛣
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The Future of DAOs Beyond Tokens. Katie Chiou of Coinbase Ventures and FWB dives into the current state of DAOs, and warns of the threat of their current limitations. In their current state, she argues, DAOs often don’t adopt blockchain tools other than the financial primitives, leaving them largely open to speculation and the corruption of bad actors, perhaps even similar to those we often see in the traditional corporation. Great perspective and warning for all DAO contributors. POSITIVE SUM VIBEZ 🧿
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DAO Governance Primer: Flat DAOs. DAOs being flat is a myth. No organization is truly "flat." Dane Lund explains that "the trends revealed on Discord and governance participation indicate that DAO collectives are operated by small groups." This is also true across governance (through proposals) and other forms of work in the DAO. While access may be far more open to all relative to traditional organizations, DAOs rely on hierarchy to get work done. The key is in keeping that hierarchy dynamic depending on the context. YES 🔏
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Stripe Launches Support for Crypto. Stripe has announced that it now supports crypto businesses including exchanges, wallet providers, and NFT marketplaces, among others. As part of the toolkit for crypto firms, Stripe says it is also offering flexible on-ramps for exchanges. This is a huge move by the company, and likely just a taste of what is to come from the Stripe team in regards to crypto. TIMELY ADOPTION... 🚀
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Yuga Labs Acquires CryptoPunks and Meebits. Yuga Labs, the team behind Bored Ape Yacht Club, has acquired CryptoPunks and Meebits from Larva Labs. The first move was to give full commercial rights to all holders, similar to the rights given to BAYC holders. This is a wild development in the world of NFTs, and many Punk holders are concerned as to what this means for the future of the collection. Meanwhile, Yuga Labs seems to be building the first decentralized megabrand – and it’s working. MEGAMERGE (1,2) 🔗
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Biden Executive Order on Cryptocurrencies. U.S. President Joe Biden signed an executive order on Wednesday calling on the government to examine the risks and benefits of cryptocurrencies. The measures focus on six key areas: consumer protection, financial stability, illicit activity, U.S. competitiveness, financial inclusion and responsible innovation. Additionally, Biden says the federal government is exploring the creation of a digital dollar. Overall, the EO didn’t say much concrete, but it shows that more research is being done. SIGNS OF PROGRESS 🧬
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Social Tokens Index Fact Sheets
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David from Mintgate
The new NFT V2 minting contracts have been launched. Stay tuned for more updates this week on our new website.
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Jenil from Coinvise
This week we’re excited to collaborate with Kerman Kohli from arcx.money to explore community specific reputation systems and introduce our first Coinvise Summer Intern program. Learn more here on how to apply.
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Forefront DAO
This week we launched a revamp version of Forefront Signal — our curated feed of the best content in web3, as it happens.
We’re teaming up with @surge_women to map out female-focused projects in web3! Want to help us gather info and highlight awesome projects? Fill out this form.
Also... What If...
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Join our discord for daily dose of crypto social news
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