Community-driven venture DAO New Order said today it’s working with Outlier Ventures to foster growth in the nascent "MetaFi" space, where decentralized finance converges with the "metaverse," in which the physical world meets with its digital counterpart.
New Order is a permissionless DAO incubator and believes that its unique, community-based "ecosystem-as-a-service" is a great fit for Outlier Ventures’ web3 accelerator program, known as Base Camp. Through the partnership it’s aiming to incubate and accelerate growth in up to 40 new machine intelligent, multi-chain projects over the next two years with the goal of unlocking the potential of DeFi in the metaverse.
New Order says one of the main roadblocks faced by DeFi developers today is not funding, for investors these days are only too keen to throw their cash at what they perceive to be good ideas. Rather, it’s the almost total absence of support when it comes to community building that lets many ideas down. To that end, New Order prioritizes this community support throughout its incubation process, enabling innovators to connect with like-minded builders and smart contract developers to bring their ideas to fruition.
With the incubator, the community will vote on the most promising projects. Then, New Order will distribute funds to those projects via its Treasury. The initiative also calls for the creation of a dApp marketplace where users can find the latest financial products, with the idea being that this will return revenues in BTC, ETH and stablecoins to the treasury that can then be used to fund yet more innovative ideas.
New Order said it’s taking inspiration from some early concepts around the idea of DeFi and the metaverse, such as NFTs being used as collateral for fiat loans. The combination of this transparent funding and development process with Outlier Venture’s years of experience in driving growth with early stage startups will enable the DAO to get new ideas to market in double-quick time, said New Order Founder Eden Dhaliwal. He explained:
"With Outlier’s industry leading Web3 accelerator and New Order’s DeFi ecosystem, our DeFi Base Camp will launch exciting projects that will bring new DeFi products and user experiences to Web3 communities, CeFi, metaverses and more."
The partnership with Outlier Ventures comes shortly after New Order raised $4 million to launch its DAO incubator. New Order has promised to announce its first three projects, which it says have been developed with "well-known partners," later this month.