MIAMI, Feb. 2, 2022 /PRNewswire/ — Metaversal is pleased to announce the launch of MetaLetters DAO, an innovative new project to foster the next generation of creators and shape a decentralized, equitable, and inclusive metaverse. The DAO (Decentralized Autonomous Organization) will be governed by holders and creators of the MetaLetters — a series of letters created by artists and auctioned each day, one at a time, for 1,818 days.
MetaLetters DAO will activate and invest in emerging creators, and partner with like-minded organizations to help highlight both emerging and existing talents. It will also help creators reach a larger audience while simultaneously elevating each other’s work. This marks the first-time creators are getting access to a DAO at no charge and makes Metaversal the first company to open-source its branding under a Creative Commons CC0 license. DAOs, which are a foundational element of Web3, are rising in popularity as powerful tools for democratizing access to the metaverse and the burgeoning creator economy.
In an open call on Twitter three weeks ago, artists and designers were invited to submit the first batch of MetaLetters, with each letter representing one of the 10 letters in the Metaversal logotype. Contributors could submit one or all of the letters. A total of 10 finalists — one for each letter — were selected by #ArtProject Founder and renowned artist, Jessica Angel, and the Metaversal team.
The winning letters will be decided by a community-driven competition on Metaversal’s Twitter account, where users will vote on their favorite submissions until February 7. The three artists who earn the most likes and retweets will each win a valuable NFT, while the artist with the most votes will have their winning contribution auctioned by the MetaLetters DAO as the first NFT in the collection.
"We’re creating a truly decentralized way to enable our community to decide what Metaversal’s brand can look like, and which will represent the evolving culture of the metaverse — all in an aim to showcase and support new artists and creators," said Yossi Hasson, CEO and co-founder of Metaversal. "Elevating and empowering the creator community that we are a part of has always been core to Metaversal’s mission."
Every MetaLetter is auctioned as a one-of-one, with proceeds split between the artist and the MetaLetters DAO Treasury. Auction winners become members of the DAO as do the MetaLetters creators, via a Creator Pass.
MetaLetters DAO members will propose and vote on projects that the DAO Treasury will invest in. These will include acquiring NFTs of emerging artists, as well as the education, training, and sponsorship of diverse and emerging creators and art organizations. Participants will also receive access to exclusive Metaversal and Creator Pass holder events, NFT drops, investor insights, and more.
The 10 finalists selected by Angel and the Metaversal team are: Chanelle Rech, Fabin Rasheed, Fiona Bechtler-Levin, GusGrillasca, MarE, Moxarra González, OREOGOD, Veronica Ettedgui, Very William, and William Rech. You can view their submissions here.
Following this initial launch, the MetaLetters DAO will continue to host daily auctions of MetaLetters until it reaches 1,818 letters.
Metaversal is an innovative holding company that combines a venture studio and investment firm focused on NFTs. It co-produces, curates, and invests in iconic NFT projects and the key technology that unlocks the open metaverse. Metaversal’s mission is to invest in the infinite stories of our culture.