Vincent Niu, the founder of SKY9 Capital, once said: "The projects that issue NFT should pay more attention to the carrier itself, that is, what problem is solved in what scenario. NFT is just a technical means, not the purpose, otherwise it is putting the cart before the horse. For NFT And NFTs are meaningless.”
In essence, the blockchain endows NFT with a high degree of composability, but the existing NFT itself has not fully utilized its potential for composability, which further leads to narrower and narrower future narratives of NFT.
For example, the existing PFP avatars or NFT artworks and collectibles (which account for more than 70% of the existing NFT market value) sectors, more often use IP as the main factor for the premium, and their premium usually comes from hype, flow Relatively low, it is likely that with the overall market environment or some other single factors, these assets will shrink sharply, especially the endless PFP avatars.
Apart from trading and displaying these NFT assets, there are no other scenarios to speak of. More holders hold them for the purpose of rising, while top IPs like BAYC, AZUKI and CryptoPunks are still a minority (the floor price of BAYC is now It also fell below 100ETH, of course, the price of ETH is still falling).
At present, the panic brought about by the accelerated decline of the crypto market has already had a greater impact on the liquidity of the existing NFT sector. In this wave of unexpected sharp declines, perhaps many NFT assets have permanently lost their liquidity. sex and value. Although we all recognize the value of these assets in the short term, they are more like "fast moving consumer goods" in the long run, and their development prospects are not optimistic.
Perhaps aware of the importance of "carriers" for PFP-like NFTs, not long ago Yuga Labs, the issuer of BAYC, began to rush to build the Metaverse Otherside (of course, this is not suitable for all NFT projects, especially the construction of metaverse ecological existence is quite Difficulty), let BAYC get a new narrative direction to make up for its poor composability.
After Yuga Labs, especially after this round of market crash, more and more NFTs will explore new narrative directions, reconstructing the logic of NFT’s value capture, potential business models, production relations and organizations Governance.
We have seen that Tiger VC DAO's way and thinking of building a "carrier" for NFT is more in line with the development concept and trend of Web3, and it is worthy of reference for some existing NFTs in building new narrative directions. This article will further explore the Tiger VC DAO ecology, so that more readers can understand and understand the idea of building an NFT ecology.
Tiger VC DAO: Empowering NFT deeply through DAO and VC
Although many existing NFT projects look very Web3, they are actually very Web2. After the user MINT acquires NFT, it cannot continue to mine value from the ecology. The funds from these NFT sales are usually used for project operation and brand building (almost no DAO), and even many NFT projects follow the "one-wave" route. Holders do not have confidence in the NFT they hold. They are more inclined to rush to sell the NFT in their hands for profit. Usually, the connection between the holder and the NFT is one-time and short-lived. For example, in many NFT project communities, we usually see some early holders say that they have made a lot of profits after getting the whitelist and MINT NFT, but they are selling instead of holding it for a long time.
Allowing the NFT ecosystem to establish a continuous and long-term connection and binding with users who hold NFT may be an effective way to keep NFT holders confident and promote the long-term development of the NFT ecosystem. In addition, any ecology that can keep long-tail users sticky has a solid value foundation and long-term development potential. For example, although both LooksRare and X2Y2 are challenging OpenSea, we are more optimistic about X2Y2, which is taking the civilian route.
Through DAO and low-threshold VC, it is one of the main ideas of Tiger VC DAO to build an ecology to allow NFT to establish a continuous and long-term connection and binding with ecological users, and to keep more long-tail users sticky.
Tiger VC DAO will issue NFTs. These NFTs not only have cultural elements and collection elements, but also have equity attributes as the added value of the NFT. Tiger VC DAO will not use all the NFT funds sold for operations and brand building like other NFT projects. Usually, he will divide these funds into three parts, including investing in some Beta encrypted assets and investing in some Alpha-type assets or investment in Tier 1 projects, and working capital for projects.
The specific decision to invest in Beta and Alpha-type encrypted assets will also be decided by the votes of users holding NFT, and the benefits of these investments will also be distributed to NFT holders. And these funds will continue to invest in the market, which means that users who hold NFT will also continue to receive income returns. Especially in this way, all users who hold NFT can also obtain income opportunities from the primary market, so that they can all participate in encrypted VC in the form of DAO to obtain considerable income.
Tiger VC DAO is further building a new carrier for NFT through DAO and VC. Usually, the NFT issued by it has various appearance characteristics of existing PFP avatars, artworks, and collectibles, and can obtain a premium for NFT through some IP actions. In the long run, DAO and VC will be the enabling mechanism to promote NFT to maintain value stability and build a long-term development foundation.
In addition, NFT is being occupied by top users (users with large funds). For example, if you want to profit from the Otherside airdrop land, some investors said that the accumulated funds in their hands are less than hundreds of thousands or millions of dollars. There is basically no opportunity to participate, and more and more high-quality NFTs, they set a relatively high capital threshold in the early stage, which is only a profit-making paradise for a small number of top investors. The NFT launched by Tiger VC DAO is more suitable for many long-tail investors, such as the upcoming Tiger NFT, the early price is only 0.1ETH, and any participating users have equal opportunities. Tiger VC DAO creates opportunities for more long-tail users to continue to make profits in the NFT market. The huge long-tail user group is also expected to further empower the Tiger VC DAO ecology in the form of feedback.
By building a scenario for NFT, Tiger VC DAO can obtain the rights and interests of DAO governance, and at the same time obtain continuous income. It deeply binds the holder with the ecology, so the stable income brought by long-term holding can make the holding Some maintain confidence and not push their premium further through FOMO, speculation.
In general, Tiger VC DAO continuously establishes a value capture mechanism for the ecological NFT by investing funds in the market, and has the potential to build potential business logic (expand the ecology, discover high-quality potential projects, etc.), and build through DAO Production relations and governance.
Venture DAO, is becoming a new paradigm
VC is evolving to a new paradigm. Although the encryption industry was promoted by Web2 VC in the early days, and Web2 VC has always been the backbone of the industry, the form of VC is evolving. Venture DAO is a new model for the VC sector to further develop towards the purpose of Web3.
From the perspective of the industry, there were many DAO organizations exploring in this field in the early days of the industry, such as The DAO promoted by the Ethereum Foundation, which can be regarded as the earliest form of Venture DAO (although it is an early stage of Ethereum development, with negative impacts). After 2018, MetaCartel, LAO, Flamingo DAO, Stacker Ventures, Angel DAO, Honey DAO, Komorebi Collective appeared one after another.
From the perspective of the concept of Venture DAO, it should be inclusive, open and decentralized (all members of the community make decisions through DAO), but MetaCartel Ventures is currently not open to new members, Flamingo DAO members must be qualified investors stipulated by US law , and new members of LAO must contribute at least 310 ETH to obtain 1% of LAO member units, which means that a considerable number of users cannot participate. In addition, Honey DAO and Komorebi Collective are more centralized. Therefore, the emergence of Tiger VC DAO also has certain significance for the development of Venture DAO.
The threshold for becoming a member of the Tiger VC DAO community is to hold an NFT within the ecosystem, and the threshold for early acquisition of the NFT mentioned above is not high, which means that the Venture DAO of Tiger VC DAO is more inclusive and open.
With the continuous enrichment of the user level of the Tiger VC DAO ecological community, Tiger VC DAO can fully stimulate the community tentacles to obtain project resources, and at the same time use the wisdom of the group to optimize VC decision-making, and based on the huge community size and diversified group structure, Sufficient funds for ecological investment can screen investment to support more high-quality projects, while traditional VCs only rely on free LP funds to raise funds, with limited investment funds and narrow investment scope. Compared with other Venture DAO ecosystems, Tiger VC DAO is more inclusive, open, and has a higher fault tolerance rate, which is one of the foundations for Tiger VC DAO to obtain higher returns on investment.
Currently, all addresses holding Tiger NFT have voting rights, and the top 50 addresses have not only voting rights but also proposal rights. Proposers cannot vote on the projects they propose. In the future, Tiger VC DAO will adjust the number of proposers according to the scale of community development.
The idea of building the Tiger VC DAO ecosystem also comes from the team's industry experience. It is understood that most of the Builder team members of Tiger VC DAO have more than 5 years of experience in the cryptocurrency industry, and the lineup is relatively luxurious. Among them are the founding members of world-renowned security audit companies, the Chairman of the NASDAQ encryption listed company, Crypto VC who manages 300 million encrypted funds, and a large number of Crypto investment research experts, etc., and the number of these Builders is still increasing.
At present, Tiger VC DAO has launched the first-order NFT, the number is 999, and this part of NFT will be oriented to some VC institutions, investment research experts, trading platforms, media KOL and early community guild members except a small part for the community Open, and set the tone for early Venture DAO investment, attracting a large number of high-quality projects to build initial cooperation.
After completing the issuance of 999 NFTs, the second batch of NFTs will be issued to further expand the community. At the same time, Tiger VC DAO will issue governance tokens and airdrop to NFT holders.
In general, Tiger VC DAO builds a new carrier and narrative direction for NFT through DAO and VC. It allows holders to bind with the depth of the ecology and empower each other to further build the basic value and long-term development of the ecology. potential. Tiger VC DAO's thinking and direction of building NFT ecology are also worthy of reference and reference for other NFT ecology.