ICYMI: NFT startup Otterspace raises $3.7 million to ‘definancialize web3’: Exclusive
Venture firms Cherry Crypto and Inflection led the round, with participation from Bessemer Venture Partners, Coinbase Ventures, Btov Partners and Paua Ventures.
Otterspace aims to use NFTs that are earned rather than bought to reward certain behavior and recognize participation in a decentralized autonomous organization . The DAO of DeFi newsletter Bankless currently uses Otterspace's NFTs to assign roles and relevant compensation.DAOs are built on the promise of decentralizing the traditional concept of shareholder voting. In this decentralized structure, investors are given the ability to vote on proposals ranging from a protocol's marketing efforts to new products. Investors are able to vote by using the DAO’s native governance token.
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