Learn more about the DAO with a sombrero-wearing dancing chilli as their logo, but a serious goal — to accelerate the development of web 3.0 and decentralized applications.
Decentralized applications (DApps) are a logical extension of blockchain technology. By democratizing access to services and products through distributed solutions, anyone in the world can build toward a better future. Developers build such DApps, although there is also a need for operators helping to keep everything running.
Bringing together developers and operators will help establish a more competitive and accessible DApp landscape. As Vitalik Buterin said, “the battle against centralization is a day-to-day one,” and various projects are in development, yet they may not always have the financial means to make a vision come true.
This is where organizations like venture capital and angel investors come in — to provide funding, network and guidance to help bring these ideas to life.
In true web 3.0 fashion, a decentralized autonomous organization — MetaCartel is doing exactly so, by establishing a "cartel" of creators and operators, and providing funding and support to accelerate the web 3.0 ecosystem.
What Is MetaCartel?
MetaCartel started out as a community that were interested in meta transactions in late 2018 during ETHBerlin.
It then evolved from a telegram group formed to coordinate meta transactions between projects, to participating in hackathons, such as ETHSanFrancisco to Ethereum Devcon 4. Pretty soon, MetaCartel was established amongst this group of like-minded individuals.
As an ecosystem that aims to bring together developers, creators and operators of decentralized applications, MetaCartel aims to usher in the next era of DApps. The team dedicates its attention to building and connecting the many application-oriented developers in the crypto space. Today, that community spans over 800 builders who exchange ideas and explore new opportunities.
Building and maintaining DApps isn't just about the code. It is also about the people working behind the scenes. The collaboration will often yield far better results than splitting off people into separate teams. Moreover, MetaCartel aims to facilitate cross-chain coordination to keep fostering innovation and exploration in this nascent industry.
Even though MetaCartel has "strongholds" in the US and EU, the team positions itself as a remote-first team that can collaborate anywhere globally. Everyone is welcome to join the community. Modern technologies such as video calls and Telegram chats make communication convenient and easy for all parties involved.
How Does MetaCartel Work?
Building up a robust community ecosystem is the first focal point for MetaCartel. The team has worked together with various existing communities, including Opera, Gnosis, AdEx, Aave, SuperRare and many others. The majority of these projects are active in DApp development, whereas others may be dipping their toes in the water to consider possibilities.
Under the MetaCartel Ventures, MetaCartel aims to help founders, builders, engineers and others to raise the necessary capital for their current or future ventures. The DAO has invested in various projects, either as (pre-)seed, Series A, or OTC rounds. Beyond the financial aspect, MetaCartel Ventures can also provide logistics and other support to help DApp builders achieve their potential.
Third, there is the grant funding facet of the MetaCartel ecosystem. Early-stage DApp projects can receive funding and operational support through this method. Some of the better-known recipients of a grant include KnownOrigin, Mintbase, MetaFactory and DeFiZap. The grants fund is operated under the MetaCartel DAO banner, which has backers including Gnosis, Aave, IOSG Venture and others.
What Makes MetaCartel Unique?
The intense focus on community has given rise to over 30 online virtual meetings to address technical research problems, development topics and working group topics. Additionally, MetaCartel held over 20 offline meetups globally, mainly tapping into Ethereum's major community conferences. Establishing a global network is crucial for developers and operators looking to impact their current or future DApp.
To expand the online presence, MetaCartel has recorded and published over two dozen podcasts with the creators of DApps to spotlight their creation. However, it is often better to let the project's creator talk about the how and why of the DApp, rather than have an external party look at it and give their opinion. In addition to focusing on developers, the Berlin Blockchain Week 2019 Demo Day conference only featured Dapps. Over 200 community members attended that conference to keep on top of the ongoing developments.
While grant programs are nothing new in the blockchain world these days, they still play a crucial role. Funding and supporting minimum viable DApps can lead to new potential "unicorns" being created. To data, grant funding and support has been extended to over 13 projects spanning multiple and various use cases. Whether it is an NFT conference ticketing or smart contract automation solution. a viable business plan and ongoing development can get projects far with the help of MetaCartel.
Rather than having to talk to dozens of VCs to secure investment, MetaCartel makes it easier to pitch projects and, if successful, acquire an allocation from everyone. Getting connected to multiple potential angel investors with a similar mindset is a crucial difference compared to traditional fundraising.
The MetaCartel team firmly believes there is future growth among DApps and Web 3 projects in the Ethereum ecosystem.
What Are People Saying About MetaCartel?
Judging by the official forum, the community behind MetaCartel is still very active. There are several proposals on the forum looking for feedback from other community members. Additionally, the "BIG Dapp idea thread" combines ideas from all community members and developers. Figuring out what people want to see next is an essential step in the building process. Engaging with like-minded people through this forum helps establish a direct line of communication.
More importantly, the grants are still going out to early projects. That aspect of the business is crucial and will benefit the MetaCartel community. Additionally, it also helps the project's community secure funding, creating more buzz surrounding MetaCartel's grants program or its Ventures DAO. That will, in turn, help generate more buzz for MetaCartel, even though they can't back every project in existence.
Even though the for-profit nature of the Ventures DAO would scare off some people — it seemingly goes against the nature of a DAO — the concept appears to gain appreciation. As there is no managing partner, executive committee, or investment committee, the different approach compared to handling VCs directly seems to go over well with the projects receiving financial and operational support.
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