What is Fight Club?
The Bankless Fight Club is a BANKLESS DAO project (soon to be node) that aims to derive value for the benefit of the Bankless DAO members by creating:
Fight Club has evolved from its original form as a single venture DAO to an umbrella structure with an arm for venture DAOs (aka funds) and for Fight Club projects. The initial venture DAO will be the Web 3 venture DAO that will include a US entity for accredited investors and non-US entity for non-US Fight Club members.
The first Fight Club project is an Education Program being designed with FTW.DAO. The season 1 of the Education Program is to create a webinar series that teach the fundamentals of crypto venture investing.
What is the first rule of Fight Club?
Due to US regulations regarding marketing investment funds, Fight Club members are not allowed to openly market Fight Club to the public.
Fight Club members are allowed to:
What is an investment DAO?
DAOs have evolved to encompass different community and business needs. Investment DAOs, including venture capital DAOs, have emerged as a way for communities to invest in early-stage projects. Investment DAOs typically have an on-chain component in the form of smart contracts to manage the operations of the DAO and an off-chain component that provides some legal liability protection to its members, i.e. the DAO’s legal structure.
The investment process of a venture DAO is different from a typical venture fund since each member of the DAO can bring investment proposals to the DAO. The decision process for the DAO to invest is based on DAO voting results versus an investment committee in traditional VC firms. Each member holds one vote. If enough votes accrue the investment proposal moves to the next step.