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Decent Labs Launches DAO with $10M in Funding for $56M Valuation

Tyler Irvin

Summary: Decent Labs and other crypto investing giants launched Decent DAO, an incubator and seeding ecosystem to connect talent to bakers that fully understand the inner workings of the crypto space, with $10 million in funding for a valuation of $56 million. Decent Labs teamed up with GSR, BlockTower Capital, Cumberland DRW, OP Crypto, Digital Currency ...

Decent Labs and other crypto investing giants launched Decent DAO, an incubator and seeding ecosystem to connect talent to bakers that fully understand the inner workings of the crypto space, with $10 million in funding for a valuation of $56 million.

Decent Labs teamed up with GSR, BlockTower Capital, Cumberland DRW, OP Crypto, Digital Currency Group, 1kx, and others to create the first-ever decentralized venture studio. A venture studio builds companies in rapid succession opposed to offering them an investment.

“Decent Labs brings five years’ worth of experience helping to define decentralized application development on Ethereum and pioneering tokenization methods while always focusing on building publicly accessible, open-source financial tools that are sophisticated enough for institutions,” the press release stated.

Last month, web3 venture studio Decent Labs launched Fractal, a developer framework that assists companies scale their operations as a decentralized autonomous organization or DAO. It turns out that Fractal was the first project from the newly formed Decent DAO.

“The way people work and organize is changing, so venture building should change too. Decent DAO employs on-chain work coordination to ensure our members are genuinely engaged in supporting projects from inception to launch,” shared Parker McCurley, Co-Founder and CEO of Decent Labs. “We’re at the intersection of many radical changes in business as Web3 matures, and we need a DAO that brings together partners that are wholly invested in building equitable access to opportunities in the world of decentralized finance.”

McCurley continued that while Decent DAO will continue to bring web3 builders and investors together they want to be known for offering a similar path to all people regardless of technical ability or socioeconomic factors. They hope to inspire those in our society that need this technology the most, the opportunity to explore it.

Author: Tyler Irvin