Friend of the site and former CEO of Digital Farming Initiative is back with the project he promised us when he left DFI – Garden DAO. He has graciously spent some time explaining it to me, and I confess I am still not sure if what I have in my head is the reality of what he is proposing so I am going to let him explain it in his own words.
Strong interest from people to develop new projects in crypto ranging from DeFi, Infrastructure, gaming/NFT, wallet, ESG and stablecoins but there are limited funding sources for quality projects. Particularly, independent developers who in addition to needing funds, also need marketing, dev resources, and collaboration. Raising money from friends and family, VCs or grants can be slow, expensive, and non-collaborative.
People holding crypto currency are generally interested in doing things differently and making money. They want their funds to have actual utility which gives them the inherent utility benefit, as well as increasing adoption, and thus values.
Garden DAO is a community driven system to aid in the process of raising funds by allowing users to explain and list their projects for crowdfunding. We’ve developed a unique system to ensure viable projects with dedicated founders have the access to multiple resources to help them reach their goals.
Garden DAO is a particularly great platform for crypto projects that rely on “smart contracts” to autonomously transact and govern their project. These projects are known as true DAOs, and users looking to launch these types of projects will have a plethora of options to customize and implement their vision including automatic disbursements, voting rights, and much more.
What is Garden DAO:
Garden DAO is made up of a collective of people from around the globe with various skills and talents. Our structure is setup where all members have a say in how the operations and ecosystem works. Our goal is to build a platform where the community can get together and take advantage of the Chia blockchain’s unique puzzle structure to start and execute new and exciting projects.
He took me through a mock scenario of what selling shares of the advertising revenue of the Chia plot would look like in a DAO and even though he explained it well, I’m still not sure why someone would want to do it or if it isn’t an illegal public securities offering. I doubt its the latter, but I certainly won’t be selling Chia Plot governance tokens until I get a very close look into how this works.
That said, I have no need to raise capital and I can see how it might be really helpful to geographically diverse teams who have never met each other to be able to raise capital directly so that they can focus on a good idea. I’ll be keeping a close eye on this and if you want to too, check out their discord channel and ask them about their project.