Metis $100 Million Ecosystem Fund
Metis $100 million ecosystem fund Genesi DAC, Metis investment arm, will be playing an even greater role in Metis ecosystem development. Genesi DAC is a VC investor group and $100 million funds led by Natalia Ameline, co-founder of CryptoChicks.
Genesi is an on-chain 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’s Selection Proces
Moreover, Genesi DAC serves as a booster for newly onboarded projects in the Metis Ecosystem. Then eligible teams are provided with funding, network opportunities, and industry resource support.
In addition, committee votes are in need 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 are 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.
Projects Genesi DAC is Looking For:
Furthermore, 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 “offers technology, marketing and funding opportunities for projects.
Moreover, the 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.” Furthermore, one of the most important selecting criteria is scaling potential. Furthermore, the goal for the platform is to continually expand Web3, and in doing so, host a diverse group of projects, not just defined in one single area.
According to Natalia, Genesi DAC is specifically looking for:
- A unique project adding value to the Metis Ecosystem
- Strong market (should meet the functional needs, desires, and goals of the target audience
- Well thought out, economically feasible, and sustainable business model
- Strong team with a proven track record and the right skills
Future Genesi DAC x Metis Involvement
In Q3 and Q4 of the second half of 2022, Metis will be prioritizing new product launches and mass adoption, accompanied by 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. In addition, Genesi DAC includes in the whitelist for Eco Nodes in Q4.
Metis’ primary goal is to develop its version of an accurate Web3 application. It is decentralize, individual-centric, and Reputation-Power base in turn. Building a “synergistic” ecosystem. In creating this ecosystem, Metis is planning to launch new programs for gaming, metaverse, infrastructure, etc. with the collaboration of Genesi DAC.
ABOUT Metis DAO
Metis is a decentralized economy platform to start, run, and grow any decentralized app, business, and community on the blockchain with ease and scalability.
