Polygon, an Ethereum scaling platform onboarding millions to Web3, has announced the launch of eDAO — an organisation to design and launch global art, media and entertainment IPs at scale, into the world of Web3.
eDAO will create a unified experience for the largest spectrum of culture and entertainment to provide communities with a single access pass to chart unique experiences in the Web3 ecosystem. eDAO is backed by a myriad of venture capital and angel investors, including Jump Capital, Alphawave, Brevan Howard, Polygon Studios, and Polygon CEO, Sandeep Nailwal.
eDAO’s primary focus is to act as an ‘operating system’ for culture and communities across art, music, film, events and gaming, taking their first steps into Web3. The eDAO team will provide a Web2-Web3 barge via investment, tech, go-to market strategy, network support and community nurturing for NFT projects. The team will also foster innovation and strategic development for the community by bringing in incubators, advisors and partners, including tech giants like Polygon, to advise and support the project through its scaling process.
Initial eDAO partners include Metra, a New York based immersive Web3 lifestyle brand that designs and curates art and NFT experiences, featuring artworks created by blue-chip artists. Other partners include T-Series, India’s most prominent record label, movie producer and the world’s largest YouTube channel with 200m+ subscribers; and Owais Husain, son of the late veteran artist, MF Hussain, who is working closely with eDAO for the Genesis Launch.
The eDAO leadership is headed by Anand Venkateswaran as Co-Founder and CEO, and Mairu Gupta as the COO. Venkateswaran is a former steward of Metapurse, the world’s largest NFT fund behind the headline-grabbing $69-million NFT purchase of digital artist Beeple’s ‘Everydays: The First 5,000 Days’. He was the executive producer of Dreamverse New York, the largest NFT Art Exhibition in the world. Gupta brings 17 years of experience in the media & entertainment industry across advertising, music and sports. He was the former Head of Digital Business at Sony Music and led the content and media distribution business for the NBA in India.
eDAO’s wider strategy centres on accelerating Web3 access and building experiences that are not just immersive and incentivised, but also highly accessible.
The building blocks of the eDAO ecosystem are Dynamic NFTs (dNFTs). eDAO will utilise fluid smart contracts and a socketed architecture that will allow an NFT to evolve in response to user behaviour, accruing utility and value over time.
By harnessing this technology, eDAO will offer fans unequivocal ownership along with multifaceted experiences that are accessible across multiple devices. The digital assets are tied to their favourite artists, celebrities and content creators not just in one culture silo, but over the spectrum of every person’s varied interests.
Sandeep Nailwal, co-founder of Polygon said, “We are thrilled to be collaborating with eDAO, who will lead exciting innovation in bringing Web3 adoption worldwide, through their vast experience in NFTs across the sports, media and entertainment industries. Polygon is excited to provide scalability and security to a project that prioritises fans and digital communities in their transition from Web2 to Web3.”
Anand Venkateswaran, co-founder and CEO of eDAO said, “The value of NFTs is skewed towards speculation. The real multiplier though is experience. eDAO engineers a meaningful, immersive Web3 plunge for creators and millions of fans across a wide scope of art, media and entertainment.”
Mairu Gupta, COO of eDAO said, “Collaborating with Polygon has given us the tools to provide a secure and engaging user experience for fans starting their Web3 journey with eDAO. We look forward to becoming the go-to service for the artists, gamers, content creators and their millions of fans transitioning from legacy Web2 platforms and into Web3 and beyond.”
Visit eDAO for more details