Dapper Labs Unveils New Unit Focused on DAOs

UTC by Babafemi Adebajo · 3 min read
Dapper Labs Unveils New Unit Focused on DAOs
Photo: Dapper Labs / Medium

The new unit will be headed by Brud’s CEO, Trevor McFredies who comes on board with his 31-member team.

NFT stalwart, Dapper Labs on Monday announced it was launching a new unit called the Dapper Collectives. Up until now, Dapper Labs has been largely responsible for bringing NFTs to the fore. Most recently, the firm partnered with the NFL to launch officially licensed NFTs. Now the firm has carved out a new unit called the Dapper Collectives to focus on DAOs.

This unit will help communities to build a decentralized autonomous organization (DAOs) using its Flow blockchain. To facilitate the process, the firm has also acquired a virtual influencer platform – Brud.

Speaking on the development, Dapper Labs CEO, Roham Gharegozlou, asserted, “The space of DAOs is probably the most interesting space to us after NFTs and very complementary to the work we’re doing, both with big brands as well as our own IP.”

Dapper Lab’s Interest in DAOs

There has been a surge in the interest around DAOs in the cryptocurrency ecosystem recently. DAOs are believed to revolutionalize the traditional corporate model by spreading value within the communities where it is created due to their flat structures.

However, the required tools to make this happen are still being developed. Dapper Labs believes it can help make this transition into DAOs easier for creators and participants that “see a future in decentralizing and embracing a Web3 world.”

The new unit will be headed by Brud’s CEO, Trevor McFredies who comes on board with his 31-member team. While the company is well known for creating a fictional digital influencer, the CEO is also the founder of a social DAO Friends with Benefits, which has a token with a market capitalization of about $77 million. His vast experience with DAOs makes him the ideal person to lead the team.

Why Brud?

Dapper Labs CEO asserted that the Brud team is the best in the business. He also affirmed that Brud’s work so far complements that of Dapper drawing parallels between past projects of both teams.

So far, the Brud team has recorded some success with its fictional influencer character, Miquela. Gharegozlou believes the development of that character is “an ongoing experiment in community building and social storytelling that will help inform the team’s work going forward as Dapper Collectives.”

Commenting about the acquisition, McFedries confirmed that his team’s vision for a DAOs-driven and decentralized future of media was adequately captured by Dapper Collectives. Noting their success in building their online community, he pointed out their need to bring creators and fans together in the same ecosystem. The Flow blockchain of Dapper Labs would provide such a platform to bring creators and fans together so they can share in the value being created.

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Babafemi Adebajo

An experienced writer with practical experience in the fintech industry. When not writing, he spends his time reading, researching or teaching.

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