The Contender & The Proposal
Previously we outlined how the current Web 3 space has fallen short of its promise of an equitable, decentralized future for all. Not only does the current space lack trust, it also leaves creators of all kinds to fend for themselves in silos, fighting for limited resources with limited network. We’re in a jail of our own making, trying to solve the Prisoner’s Dilemma, and pointing fingers at who we think is the worst offender.
How do we get out of this? How do we forge a path forward? How do we build enough trust to form a network. And build enough of a network to scale efficiently?
Enter Founders Factory and our humble proposal:
Grow A Trusted Network
- We verify and doxx all incubator and partner projects. Each and every project is required to submit personally identifiable information in escrow that, should a project attempt any unethical or illegal behavior, is immediately relayed to local authorities for legal action. At Founders Factory, we believe Web3 deserves better than lies and rugs and we’ve enacted the mechanisms to deliver it.
- Audits and Security setups for all Discords. Nothing can tank a project faster than a compromised mod or server. As such, we fully audit each incubator server, provide a list of required remediations, and outfit each Discord with role hierarchy, security systems, and custom bots. If necessary, we will fully rebuild a Discord from new. No holder in our network of servers should have to worry about a wallet compromise as a result of inaction or lack of resources on Founders Factory.
- Set a standard for honest and mutually beneficial cooperation. All the revenue generation mechanisms in place are designed not only to benefit Founders Factory, but to also provide value to our partner and incubator projects AND their holders. From pre-mint revenue generation, to curated 2-way alpha chat, to Founders token, we are transparently providing a way for the entirety of our ecosystem to earn a living and make dreams a reality.
Provide Scalable Utilities
- 2 Way Alpha Chat. We employ a Web3 proven and trusted alpha calling team who produce analyses that are disseminated through 2-way channels to the entire network of Founders Factory (including partners and incubators, from the day their servers are secured). This results in a larger, better informed populace and democratizes the service while maximizing cost efficiency. No more hiring an alpha caller per server or depending on access to exclusive communities with groupthink focuses.
- Founder’s Node. Through our partnership with JustCubes, we have access to a private node for the Founders Factory network. The node essentially functions as a fast lane to the blockchain, providing accelerated transaction speeds for those who run through it. While the fastest node is limited to JustCubes holders (the Hypernode), the Founders Node is almost as fast and available to any holder of any of our projects. The node facilitates a speedier queueing to the mempool, resulting in lower gas fees and faster transactions! We save our holders money and provide a valuable utility to our partners.
Our ERC1155 Whitelist NFT
One of the oft unspoken darknesses of the current Web3 space is the whitelist black market. Need a whitelist? Through connection with the right individual and for the right price, you can purchase a whitelist spot to some of the most hyped upcoming projects with the hope of making that money back on secondary.
However, the area is rife with scams: just as with any black market, there are no guarantees that what you are buying is authentic. Additionally, it is an open secret that projects will sell their own WL to drive hype and demand in an effort to mint out. The repercussions for being found out, however, can be the death knell of a project.
With the Founders Factory ERC-1155 Whitelist NFT, we bring the black market into the light. A project creates and sells a number of its whitelists at a price it designates and are able to openly generate revenue pre-mint. A potential holder is able to purchase it with ETH or the Founders token ,and can choose to either hold it in their wallet to burn at mint for that project or sell on secondary (which would generate royalties for project founders and Founders Factory). All of it is transparent, ethical, and subject to market forces.
This innovation transparently and equitably enables:
- A project to capture revenue pre-mint and a portion of secondary sales.
- A better way for projects to distribute whitelists to their community. No more maintaining a fallible list; no repeated logging of tickets and distribution of roles but an actual token that is transferred to the wallet as an NFT for a recipient to do with as they wish.
- Grind to Earn: Earning and selling WLs as a viable mechanism of generating income.
- Traceable, verifiable auditing, and actionable feedback to a project’s actions. Anyone can see the true hype of a project, eliminating the smoke-and-mirrors manipulation.
Founders Factory has already implemented this proposal and we’re well on our way to unveiling and scaling it.
So, take a deep breath and exhale. Let’s revisit that worrisome Web 3 Trilemma:
Trust: By establishing standards of verification and trust (all our projects and team members are doxxed and verified with a formalized and signed contract, and intellectual property protections (lawyers)) we bring trust and accountability to our incubators and partners. As we grow, this will extend into the broader Web3 space. Founders Factory is and will always be a trusted source of projects, advice, and education for all.
Network: Collectively, as Founders Factory, we are able to offer a larger pool of experience, talent, and knowledge than any project could offer on its own. This network and its pool of holders help sustain an ecosystem that enables further development, and therefore more holder investment.
NETWORK EFFECTS ACTIVATED.
Efficiency: With Founders Factory, the network of projects shares in the establishment and maintenance costs of these expected utilities. For example, the provided alpha service cost is shared across the network, instead of on a per server basis, thereby allowing the reach of information to increase while also aggressively reducing the cost per project.
A shared marketplace (already in implementation) multiplies value by allowing holders of any Founders Factory–affiliated project to access a proven network of other projects. The interchangeability of the Founders token effectively enhances retention of cash inflow, thereby raising the respective value of each member project.
The Net Result? A Path Forward. Trilemma Inverted:
As the saying goes, “a rising tide lifts all boats.”
TOGETHER, we benefit. TOGETHER, we are the future of Web 3.