Posted: February 8, 2024 11:30 AM Updated: February 8, 2024 10:57 AM
briefly
common wealtha powerful all-in-one platform for early-stage Web3 investing, today announced the launch of a free “Own to Own” VC fund, a world-first initiative.
February 8, 2024 (Lisbon, Portugal): common wealth, a powerful all-in-one platform for early-stage Web3 investing, today announced the launch of a free “Own to Own” VC fund, a world-first initiative. This launch represents an entirely new fusion of community-driven Web3 principles and venture capital investment sophistication. This initiative will see Common Wealth’s first fund open up the venture capital sector to the public, ensuring that early-stage access to Web3 is now in the hands of the communities it serves.
The free VC fund is designed to lift the spirits of Web3 at a time when the retail cryptocurrency community is fighting against unfair launch practices. Common Wealth aims to create a level playing field in the sector by providing access on the same level as VCs and other privileged groups. Leveraging the strong support of key opinion leaders with over 12 million social influencers, Common Wealth will shock the industry with the industry’s first completely free, no management fee, always liquid and fully active. -Chain Venture Fund.
The Free VC Fund consists of approximately $2.4 million worth of allocations across 15 of the most promising unreleased projects on Web3 (including Common Wealth!), made available to early supporters through an interactive and engaging gamification system.
Key projects recommended by All Street Oracles and for which the Free Fund will be comprised include: analog, Doesn’t suitBLOCKLORDS, CHIRP, Cookie3, diamond swap, DYOR Exchange, FairsideMangata Finance, Mavryk, Nibiru, Nyan HeroesOP Games and Rabbit.
Free funds will be airdropped entirely as “slices” (fund NFTs) to winners of the three-week campaign, starting in approximately two weeks. Each free fund slice is represented in the wallet as a completely irreplaceable and immutable proof of ownership that can be split, transferred, or traded at the owner’s discretion. This feature set is another first that further solidifies the innovation behind this new decentralized infrastructure.
Campaign products are as follows:
- The top 10 recipients will each receive a piece of $10,000.
- The next 50 beneficiaries will each receive a piece of $5,000.
- The next 1,000 recipients will each receive a $1,000 piece.
- The runner-up will share ~$1 million in $WLTH tokens.
Common Wealth Genesis 1 and 2 NFT holders and beta testers will receive additional rewards and gain a competitive advantage as a thank you for playing a pivotal role in the beta phase of the platform.
Participation is free and open to everyone* to complete specific off-chain and on-chain tasks related to each project in the fund. Progress is tracked via leaderboards and rewards are provided specifically to all verified participants who complete the minimum tasks.
Custom mechanics allow participants to complete a variety of missions consisting of five quests across different social channels. Each project has five quests, one for each major social media platform, and each quest consists of three or more missions. Completing these missions earns participants XP points, and completing all missions within the quest provides bonus rewards. The ultimate incentive is available to those who complete all quests in the project, giving them a significant XP boost. Automatic and manual verification provides legitimacy and ensures the transparency and accountability at the heart of Web3.
The Free VC Fund initiative begins on Wednesday February 21, 2024 and ends with a validation phase** over three weeks. If the app launches on the zkSync ERA mainnet before April 8, 2024, a total of 1,060 winners will see their prizes airdropped to their wallets. Winners of the $WLTH airdrop will receive the entire airdrop from TGE (weeks starting April 8, 2024). .
After launch, the free funds will work similarly to all other features available in the Common Wealth app. Here, the permissionless system executes the investment process and provides proceeds to slice owners until the funds are fully secured. Throughout the fund lifecycle, the app will continue to provide education and rewards for participation across the Common Wealth ecosystem.
About the Common Wealth
common wealth A powerful all-in-one platform for early-stage Web3 investing, giving retail investors full access to take control of their financial future. We aim to disrupt, scale and optimize the traditional venture capital investment model using Web3 principles and blockchain technology.
By opening access to the 99%, Common Wealth promotes better investment standards and investor education through crowdsourcing wisdom and scalable due diligence.
Follow the common property: https://twitter.com/joincommonwlth
Website: https://joincommonwealth.xyz/
Telegram: https://t.me/commonwealth_chat
Media contact:
(email protected)
* Participation in Common Wealth promotions requires a registered profile and a minimum of 3 missions must be completed per project to qualify for the leaderboard. Proof of mission completion may be requested and all items must be verified by the team. Only the person with the highest XP score will win, and participants will receive a single prize across all tiers. Tier 1 and 2 winners are excluded from the TGE airdrop. In case of a tie, algorithmic tie breaking will be applied. The judge’s decision is final. Geographic restrictions may apply.
** Common Wealth reserves the right to extend the campaign at its discretion.
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About the author
Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.
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Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.