CreatorDAO Announces $20M Funding Round Led By a16z Crypto and Initialized Capital
- Upcoming creators who get themselves registered with CreatorDAO will be selected by the community.
- Afterward, the DAO will provide them with the capital, mentorship, and technology needed to make better content and grow their audience.
CreatorDAO, a creators empowering community, has announced that it has concluded a seed funding round that saw it raising up to $20 million.
According to the announcement, the event saw participation from a number of institutional investors with a16z Crypto and Initialized Capital leading the funding round. It appears that the funding round did not earn the interest of institutions alone as the community also disclosed participation from over a dozen world-leading angels and creators. Some of these creators include Paris Hilton, The Chainsmokers, Michael Ovtiz, and Liam Payne.
The DAO noted participation from Liquid 2 Ventures, M13, Audacious Ventures, 6th Man Ventures, Abstract Ventures, SV Angel, Hack VC, Fika Ventures, Fuel Capital, Goldhouse, Soma Capital, Alliance DAO, Shima Capital, Olive Capital, Kygo’s Palm Tree Crew, MGU Capital, Position Ventures, Alchemy Ventures, and others.
CreatorDAO: A Decentralized Community for Creators
CreatorDAO is a decentralized autonomous organization (DAO) that is basically focused on providing support for creators by empowering them with shared access to capital, technology, and community. Thus, the seed funding round will serve as a way for participants to invest in creators.
Upcoming creators who get themselves registered with CreatorDAO will be selected by the community. Afterward, the DAO will provide them with the capital, mentorship, and technology needed to make better content and grow their audience.
The DAO believes that creators are becoming businesses that should be ventured into but it appears that no one has realized a better way to help them realize their growth potential. This has triggered the team’s decision to focus on current and potential creators. Speaking on this, the CEO and co-founder of CreatorDAO, Michael Ma, said;
“Over $300B of venture capital dollars was invested in technology startups in 2021, and less than $100M of investment dollars was invested in creators. Creators today are businesses, but no one’s figured out how to help them realize their growth potential.”
Michael Ma further explained that the DAO’s investment scheme can be compared to an investment vacuum similar to the one that Y Combinator and angel investors filled for tech entrepreneurs many years ago
The impressive turn up from investors who participated in the funding round suggests that it is not only CreatorDAO that believes in the act of investing in creators. Paris Hilton, a member of the DAO who is also an early investor commented on the latest development saying;
“I love to use my platform with 11:11 Media to lift other artists, and this is a way to do it on a much bigger scale.”
Side Notes
The crypto market and the decentralized financial ecosystem has proven to be helpful to most content creators. Moreover, anyone with internet access around the world is seamlessly banked through crypto assets.
Notably, institutional investors are keen to put money where the future market prospects lie.
Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”
