We recently shared our expanded vision for Syndicate and why we must build both financial and social networking protocols to revolutionize investing. Today marks the first major step in this journey.
Today, we’re excited to introduce Collectives, a new social networking and community building primitive for web3 built by Syndicate. It launched in public beta today and enables anyone to create on-chain social networks with powerful, modular ERC-721M NFTs that are able to evolve with communities and are composable across web3—including all of Syndicate’s current and future products like Investment Clubs.
Collectives are built on a new standard (ERC-721M) developed by Syndicate and are decentralized, evolvable, and composable—meaning anyone can create, use, and build on them. Evolvable, composable social networks are one of the next major breakthroughs in web3, and Collectives are at the forefront of this innovation. There are already over 60,000 holders of ERC-721M NFTs and growing: Rug Radio, BFF, Kamp Kilmer, FWB Fellowships, and more have been built on Collectives’ ERC-721M infrastructure. ERC-721M has been audited, formally verified, and will be open sourced.
Use Collectives to assemble the top experts in DeFi. Form a Collective of musicians to support music NFT projects. Create multiple Collectives to build LP, scout, founder, and expert networks around your investment fund on-chain. Connect people with shared interests and expertise. Find opportunities as a network. Share investment ideas, and win deals together. Support projects as a community. The possibilities are endless.
Investing is a powerful tool for change that shapes the world we live in. It defines what gets built in the world and who builds them. It births new technologies, companies, industries—and in the process, creates millions of jobs and trillions in wealth. The impact of investing on society ripples through generations, in both tangible and profound ways.
But within the next decade, investing will become decentralized, democratized, and community-driven. This transformation will have a major impact by expanding what gets funded and built in the world. It’ll level the playing field, empower more communities to invest in new ideas and technologies, and introduce radical new models for investing to society that are fundamentally more open, free, and fair.
The democratization of investing at scale is not only inevitable—it’s imperative. To build the world, more of society must be brought into the process of investing in its development and participate in the incredible prosperity that will be created as a result. For too long, the tools and capabilities to invest have been limited to too few. The time has come for this to profoundly change for the better, for everyone.
By: Delleon McGlone & Joy Batra
Since launching Syndicate’s first product earlier this year, we have witnessed an explosion in investment clubs. As some may know, investment clubs launched on Syndicate can invest in on-chain assets (tokens and NFTs) or, if the club is accredited, they can also invest in off-chain (startup equity).
In the Syndicate discord, we have regular discussions with our community members about their investment clubs, connecting with external experts (lawyers, accounts, and tax advisors), and the do’s and don’t of launching an investment club. Syndicate’s guidebook provides guidelines for launching and establishing investment clubs. Here are a few things to keep in mind as you set up your investment club, plus a friendly reminder to always seek advice from counsel in your jurisdiction.
Today, we’re proud to announce that 50+ customers, partners, and DAOs have strategically invested $6M into Syndicate, bringing our total to over $28M raised from more than 300 values-aligned investors, operators, companies, partners, customers, and DAOs since our founding just a year ago. This is as 1,100+ investment clubs as DAOs have been created on Syndicate in just three months since launch.
To realize our important yet complex mission to democratize investing at scale, we’ll need a lot of help. That’s why Andreessen Horowitz, South Park Commons, Carta, Ledger, Circle Ventures, OpenSea, Uniswap Labs Ventures, CoinList, FalconX, Polygon, United Talent Agency, Xoogler Network, Yield Guild Games, PoolSuite, Global Coin Research, Chainforest, Sfermion, A* Capital, Outliers VC DAO, and over 30 others including the core teams and creators of FWB, Rug Radio, Loot Project, Deadfellaz, Nansen Alpha, Stonks.com, and more are investing and teaming with us. This will deepen our capabilities, partnerships, and networks in important areas as we work to revolutionize investing, together.
As part of this round, we’re also proud to partner with 10+ mission-driven organizations and investors, including Flourish Ventures (financial health), Evolve (emotional well-being), Reach Capital (education), Unshackled Ventures (immigrant founders), Ulu Ventures (diverse founders), We3 (women and non-binary web3 talent network), Afropolitan (global African community), The Players Company (pro athletes community), and more.
These partners will play a critical role in bringing our revolutionary technology to important markets and communities in the months and years ahead. Syndicate’s 50+ new strategic investors include:
By: Jihad Esmail & Delleon McGlone
We’ve written about who should start an Investment DAO, but the toughest part is the how. Like any other DAO, Investment DAOs require governance processes that allow for members to make their voices heard and understand the ins and outs of the decision-making process.
With over 1000+ investment clubs launched on Syndicate’s protocol in less than 3 months, we’ve been getting into the weeds with our communities on the best ways to govern their clubs as a DAO. Not only that, but we’re committed to democratizing access to investing for all while sticking within the guidelines for investment clubs from the SEC, adding another dimension to the governance process.
Governance is often the most overlooked aspect of building an investment club. The infrastructure is there, but how should you run it?
By Jihad Esmail
DAOs are eating the world. As new web3 infrastructure, tools, and applications emerge, DAOs are quickly becoming one of the most exciting design spaces for the future of organizations, work, and capital.
At Syndicate, we believe that the world-changing potential for DAOs lay in their transformative ability to coordinate humans and capital natively on the internet together at scale. This will have dramatic implications, particularly with respect to capital formation and allocation—in other words, investing. After all, a DAO isn’t a DAO without a treasury, and that treasury must be invested to serve the DAO’s higher level mission.
Missions of DAOs, like organizations, can widely vary—from publishing media, to developing a protocol, to providing services, to funding new creators, to growing communities. We’re just at the beginning, and there’s no telling where DAOs will go next or what they’ll achieve. But DAOs are here—and here to stay—and they’ll only grow in terms of their popularity and impact in society the months and years ahead.
We're excited to introduce Web3 Investment Clubs, Syndicate’s first mainstream crypto-native social investing tool built on Syndicate Protocol. It launched today in public beta and transforms any Ethereum wallet into a powerful investing DAO in seconds for just the cost of gas. Start one with your web3 community today here.
Friends, angel investors, and web3 communities can now create and run an investment club as a DAO as easily as starting a group chat. Syndicate’s Web3 Investment Clubs can invest in tokens and NFTs—as well as off-chain startups and assets. They can attach legal entities, open bank accounts, and issue K-1s. And they’re powered by ERC-20 infrastructure, making them out-of-the-box composable with any DAO and web3 tool like Gnosis, Snapshot, and more.
For far too long, the powerful tools to invest with others have been excluded to those who can afford expensive SaaS and service providers. But now, virtually anyone can launch and run an investment club as a DAO with Syndicate—in 100x less the time and cost of an investing vehicle built on today’s TradFi and web2 platforms.
This marks just the first of many steps in our mission to radically transform investing through accessible, effortless, and social web3 technologies. Web3 communities like South Park Commons-Script Founder Fellowship, Global Coin Research (GCR), Chapter One, DAO Jones, Awesome People DAO (Julia Lipton), Vector DAO, The Council DAO, Eve, Morii Music DAO, Chad Capital, We3 DAO, SLCF (SuperLayer-Chainforest), Women in VC DAO, Forefront and many more have or are in the process of launching investment clubs on Syndicate.
Today, we’re excited to announce that Syndicate has raised $20 million in a Series A round led by Andreessen Horowitz with participation from over 150 leading founders, operators, creators, and investors (full list below). Following our community raise, our Series A is the next major step in bringing our revolutionary protocol and platform for investing to people and communities all around the world.
Within the next decade, investing will be decentralized, democratized, and community-driven. Syndicate is building the infrastructure to enable this at scale—we’re developing decentralized investing and social networking protocols, advanced legal tech solutions, and a next-gen social networking platform that empowers communities to raise, coordinate, and invest capital like never before. This will have a profound impact by expanding what gets funded and built in the world—by whom, for whom, and where. It’ll level the playing field, empower communities of builders, creatives, influencers, and friends to invest in new ideas and world-changing technologies, and introduce radical new models for investing to society that are fundamentally more open, free, and fair.
To realize this important yet complex mission, we’re partnering with values-aligned leaders who represent a diverse array of industries and communities as part of our Series A, including firms like Andreessen Horowitz and its Cultural Leadership Fund, IDEO CoLab Ventures, Variant, Electric Capital, CoinFund, Scalar Capital, Bill Ackman’s Table Management, Weekend Fund, Coinbase Ventures, Ashton Kutcher and Guy Oseary’s Sound Ventures, Kevin Durant’s Thirty Five Ventures, Aave, Protocol Labs, A Capital, Acrylic, Delphi INFINFT, True Ventures, Makena, Atelier Ventures (creator economy focused venture firm), the Council Fund (all women venture firm), entrepreneurs like Ryan Hoover (Founder of Product Hunt), Alexis Ohanian (Co-Founder of Reddit), Biz Stone (Co-Founder of Twitter), Cordozar Broadus (Snoop Dogg), and investors like Matthew Ball, Packy McCormick, Lenny Rachitsky, Scott Belsky, Alice Lloyd George, and over 100 more people and firms who each bring important capabilities, expertise, and networks to the project.
Today, we are proud to announce that Syndicate has raised $800K from 100 early users, partners, and friends in its community (full list below). Syndicate’s community raise is an important first step in democratizing our own platform and making Syndicate community-owned.
Our community raise was completed in less than a week via Syndicate itself: 100 early community members invested in Syndicate via an SPV-like Syndicate DAO launched on our platform and protocol.
DAO-powered Special Purpose Vehicles (SPVs) are just one of many applications (Community DAOs, Ecosystem Funds, NFT Funds, Economic Empowerment DAOs) for Syndicate that are rolling out now and in the weeks ahead.
In the last few weeks, the newest Syndicate DAOs launched on our platform—Komorebi Collective and Audacity—a decentralized automated organization (DAO) empowering communities to invest in underrepresented founders.
Komorebi Collective launched last month to invest in female and non-binary founders and is backed by Dragonfly, IDEO CoLab Ventures, Kleiner Perkins, Mechanism Capital, and more.
Last Friday, the newest Syndicate DAO launched on our platform—Delphi INFINFT—an decentralized automated organization (DAO) enabling people to invest in NFTs, cryptomedia, and related startups.
Along with Flamingo DAO, PleasrDAO, and others, INFINFT is one of the world’s first onchain NFT funds that will invest ~$5M in ~20 NFT projects in 2021. INFINFT is co-run by Delphi Digital and gmoney and is backed by IDEO CoLab Ventures, Gabby Dizon (Yield Guild), Jiho (Axie Infinity), Andrew Steinwold (Sfermion), Andy (Fractional), Calvin Liu (Compound), Will Price, and many more.
Collector and NFT Funds are just the third of many applications for Syndicate that are rolling out now and in the weeks ahead.
Yesterday, the newest Syndicate DAO launched on our platform—the Terra Ecosystem Incubator—an ecosystem fund and decentralized automated organization (DAO) enabling protocols and their communities to co-invest together in new projects.
Created by Terra, Delphi Labs, and IDEO CoLab Ventures, the Terra Ecosystem Incubator will provide grant funding to winners of Terra’s DeFi Connected Hackathon. The most promising projects will be invited to join an 11-week incubation program with Delphi and IDEO, and later on, the Terra community will have the opportunity to co-fund these projects via the Syndicate DAO.
Ecosystem Funds are just the second of many applications for Syndicate that are rolling out now and in the weeks ahead.
Yesterday, the first Syndicate DAO launched on our platform—the IDEO Founder Collective—a legally compliant, decentralized automated organization (DAO) for sharing equity and ownership across a community of organizations and people—in this case, IDEO and 20+ founders in its portfolio.
Community Ownership DAOs are just the first of many applications for Syndicate that will be rolling out in the weeks ahead.