SYDNEY–(BUSINESS WIRE). To that end, Upside DAO is also announcing the first recipients of its investment funding.
Upside DAO is made up of some of Australia’s most celebrated Web3 founders and contributors, including organizations such as Apollo Capital, Banxa, Caleb & Brown, FTX Australia, Ren Protocol, Synthetix, Chainflip and ZedRun (Virtually Human Studios). The DAO also includes industry specialists such as Mike Bacina (Piper Alderman), Luke Bortoli (Afterpay) and Chloe White (Genesis Block).
Together, the group highlights Australia’s strong track record in the Web3 and digital asset industries. The DAO was formed to capitalize on this position of strength by reinvesting the collective capital, skills and connections of its members back into the Australian ecosystem. Upside is not a classic investment fund. It was incorporated as a DAO, meaning that investment decisions and advice to portfolio teams are coordinated by the members.
Upside’s initial investments include:
-
Reservoir – a developer platform that enables next-generation NFT products to be brought to market.
-
PrePO – a decentralized synthetic asset exchange that allows anyone, anywhere to gain access to any pre-IPO company or pre-token crypto project
-
Mirror Planet – a rich metaverse world superimposed over real roads and buildings using Google Maps
-
Astro Lab (France) – Next generation yield farming with automated multi-chain strategies
“Uniting Australia’s best Web3 expats is a great place to start. Broad collaboration is required to truly capitalize on this intergenerational opportunity. The demonstration of unity by our most experienced industry participants is a strong signal of the collective’s intention to reinvest in the Australian ecosystem,” said Kyall Walker, co-founder and GM of Upside DAO. “Many of our members have had to go abroad to scale their businesses and protocols. We want the next wave of great Australian Web3 founders to build global companies from here.”
“Our investment in local infrastructure like a community hub will go a long way in engaging other sectors. We are in the process of building a 700m2 coworking, digital gallery and activation space in Cremorne Melbourne. This will act as a melting pot for financial information services, games and arts to come together and support Web3 founders creating innovative products for consumers.”
Cryptocurrencies, and the tech sector more broadly, have lost a lot of value over the past few months. While these conditions can discourage retailers’ willingness to invest, they typically create the right conditions to find and support founders who will build the next big companies.
Henrik Andersson, Chief Investment Officer at Apollo Capital, emphasizes, “A bear market is a perfect time to start investing in DAO as capital dries up and teams need to consider institutional capital to fund their business ambitions. We are excited to join Upside DAO and partner with other like-minded Australian crypto natives to find, nurture and support the next generation of Web3 founders to build great products for users.”
Upside launches publicly with an impressive portfolio of early investments in DeFi, Web3 tools, infrastructure, Metaverse and GameFi. “There is certainly no shortage of great founders right now who are developing the essential tools and emerging products/services that are propelling the Web3 industry worldwide. The teams we have supported are all exceptional, dedicated and resourceful. We believe they will board and evolve many Web3 users in their respective domains.”
About Upside DAO
Upside is an investment DAO & incubator helping Australian founders build global Web3 organizations. The DAO is made up of Australia’s most successful Web3 founders and contributors. The aim is to reinvest capital, skills and connections into the Australian ecosystem.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.