- The fundraising was conducted via token sale tailored specifically to the bear market
- XDAO plans to provide DAO registration services in DAO-friendly jurisdictions
XDAO, the multichain DAO builder for jointly managing crypto and DeFi projects, has announced that it raised $2.3 million at $50 million valuation from multiple investors in a successful seed funding round, Bankless Times learned from a press release.
Token sale tailored to bear market
The fundraising was conducted via token sale tailored specifically to the bear market while catering to long-term development strategies and closed on November 21.
XDAO’s successful seed round will be used to further expand the team and invest in future development of the platform. XDAO is in the process of scaling the DAO base and is currently providing users with paid consulting services using XDAO Pro.
Bridging the gap between traditional business and Web3
Furthermore, utilizing this funding, XDAO plans to provide DAO registration services in DAO-friendly jurisdictions. The aim is to bridge between traditional business and the Web3 sphere utilizing DAOs.
The platform is super friendly to both crypto experts and novices so XDAO plans to add different templates for DAOs touching GameFi guilds, Protocol DAOs, Investors syndicates and other for-profit or non-profit organizations.
XDAO is backed by such strong industry leaders as BNB Chain, Polygon, TRON, Optimism, Astar, Moonbeam, Klaytn, Arrington Capital, Oasis, Ontology, Evmos, Nervos, CoinEx Smart Chain – received grants, won hackathons, and other prizes. XDAO CEO Vlad Shavlidze said:
XDAO came about in the process of solving our personal pain, as a member of the DAO syndicate I noticed how difficult it was to set up operations in Web3. At the moment our ecosystem has 25k DAOs and that's far from the limit. Because of their transparent governance structure, DAOs can compete well with traditional corporate models and retain value in the communities that create them.
Founder of Visions of Blockchain VC Laurent Perello added:
DAOs are now the most popular form for building business communities in the crypto world and an integral part of any blockchain ecosystem. At the same time, DAOs should meet high standards: to be transparent and permissionless. XDAO is attractive because of its functionality, multichain approach and ease of use. With XDAO, the process of creating DAOs is greatly simplified and DAOs can easily scale over time. You no longer need to be a developer to start your DAO, you can focus on more important things: idea, attracting community, and management.
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