Genesi DAC, Metis investment arm, will be playing an even greater role in Metis ecosystem development, highlighted in Metis’ roadmap for the second half of the year, found here.
Genesi DAC is a VC investor group and $100 million fund led by Natalia Ameline, co-founder of CryptoChicks. Genesi is an onchain investment DAC part of the Ecosystem Development Program that provides support to projects utilizing the Metis Ecosystem. The investors, or DAC members have the responsibility of allocating the $100 million to chosen projects. Together, Metis and Genesi DAC help launch and scale onboarded projects with high potential in building Web3.
Genesi DAC serves as a booster for newly onboarded projects in the Metis Ecosystem. Eligible teams are provided with funding, network opportunities and industry resource support. How are teams selected?
Committee votes are needed for a project to pass. Once passed, general members of the DAC can make an individual-based investment towards the project. In other words, funding and support is given by DAC members rather than Genesi DAC as a whole. In addition to Metis, other DAC members include Digital Finance Group, Waterdrip, OKX Venture, M6 and Metabull, all investor partners of Metis.
Genesi DAC is currently looking for projects across a large range of blockchain sectors that would be built on Metis. This includes but is not limited to: DeFi, DAOs, NFTs, metaverse, gaming, infrastructure and launchpad. Metis, regarding ecosystem development, has a goal to build a community that “offer technology, marketing and funding opportunities for projects.”
Projects chosen should also have a proven track record with concrete progress on current or past work relating to their projects. The teams of the projects should have a strong “focus and skill set.” One of the most important selecting criteria is scaling potential. The goal for the platform is to continually expand Web3, and in doing so, hosting a diverse group of projects, not just defined in one single area.
According to Natalia, Genesi DAC is specifically looking for:
Tristan Metaverse, Genesi DAC’s first investment
As an example, Tristan Metaverse, an open-ended gaming Metaverse infrastructure, is the first investment of Genesi DAC. Tristan aims to accelerate GameFi adoption by making crypto gaming mainstream towards Web3 and Web2 users alike. Genesi is dedicating its funding towards the development of blockchain-based games on the platform.
What caught the attention of Genesi DAC is Tristan’s low barrier to entry for common users to access crypto games. Anyone, not just crypto users with crypto wallets, is able to join.
Players can simply click on a DApp link that can be shared on Telegram or Discord community to join and play a game. No complicated Web3 authentication process is needed. Genesi imagines Tristan as the first step in leading the way for the widespread adoption of Web3 with their 1) low-barrier entry 2) smooth mobile experience 3) scalability opportunities. In addition, Genesi sees Tristan as a way of encouraging collaboration through community involvement and design with DApp development.
In Q3 and Q4 of the second half of 2022, Metis will be prioritizing new product launches and mass adoption, accompanied with the help of Genesi DAC.
As part of their new governance model, Metis is employing “Commons” and “Eco Nodes” as governance structures. While Commons make proposals, Eco Nodes cast votes for final decisions. Genesi DAC will be included in the whitelist for Eco Nodes in Q4.
Metis’ primary goal is to develop their version of a true Web3 application that is decentralized, individual-centric, Reputation-Power based– in turn, building a “synergistic” ecosystem. In building this ecosystem, Metis is planning to launch new programs for gaming, metaverse, infrastructure, etc. with the collaboration of Genesi DAC.
Do you think that your project fits what Genesi DAC is looking for? Are you interested in applying?
Here are the steps to apply!
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