Common Wealth is taking extra steps to level the playing field in crypto and make funding opportunities available to users. There’s been remarkable growth in Web3 in the last couple of years.

In addition, there’s been an influx of projects on the market. However, the lack of equal access to funding has been a major disadvantage to early-stage investors. And Common Wealth is taking steps to address that.

Common Wealth, a platform for early-stage Web3 investments, is launching a unique initiative known as the Free “earn-to-own” VC Fund. The initiative is part of Common Wealth’s attempt to unlock the venture capital sector for the masses and level the playing field. 

The Free VC Fund is an early-stage investment of about $2,400,000 in fifteen highly anticipated projects that have not yet been launched. The fund comes as a response to the growing call from the retail crypto community against unfair launch practices. 

So, Common Wealth offers access at the same stage as venture capitalists and other privileged groups. Backed by high-ranking experts and a strong social media following exceeding 12 million, Common Wealth will disrupt the industry by introducing a fully on-chain, fee-free, constantly liquid venture fund.

What is the Common Wealth?

Common Wealth is an early-stage investing platform that makes a variety of funds easily and widely available to all investors. The platform, which is community-driven, promotes diversity with its offerings and encourages mass participation. 

Trends from the last decade in Web3 show something startling. Regardless of the mass opportunities in Web3, not everyone can invest, making it difficult to access early-stage opportunities. Large venture capitalists have exclusive access to breakthrough opportunities in crypto. And you know the value of being early when you find quality projects for your crypto investment.

But Common Wealth adopted a Web3 economic model that profits its community. The community-pooled fund avoids some of the constraints of traditional investing. We previously wrote an extensive article about Common Wealth and its economic model. Check it out here. 

How does the Free VC fund affect investors?

The Free VC fund is a huge opportunity for small investors who can’t compete with VCs in terms of funding. It simply hands the power of early-stage access in Web3 to its community. The best part is that there are no fund managers, general managers, or management fees. This is a unique improvement to the current design.

Additionally, this is the first fully non-custodial fund that is always liquid. This means users can sell in full or in part at any moment. This Free VC fund fully leverages the power of blockchain technology. The Free VC fund is also the first fund ever managed by smart contracts to guarantee perfect transparency and permissionless execution.

Some of the projects that make up the Free Fund include 

  • DYOR Exchange, 
  • FairSide, 
  • Mavryk,
  • Nibiru, 
  • Nyan Heroes,
  • OP Games, 
  • Analog, 
  • Asymmetry,
  • BLOCKLORDS, 
  • Chirp, 
  • Cookie3,
  • Diamond Swap, 
  • Rabbet.
What is the allocation structure?

Users who emerge winners in a 3-week campaign starting on February 21, 2024, will be airdropped the Free Fund as “slices.” Each Free Fund slice can be split, transferred, or exchanged at the holder’s discretion. It will show up in their wallets as a fully non-fungible and irreversible proof of ownership.

Here is the reward structure:

  • Top Tier: The first 10 entrants have access to a $10,000 allocation. 
  • Second Tier: The following 50 participants will receive a $5,000 allocation.
  • Third Tier: The next 1000 participants will receive a $1,000 allocation. 
  • Runners Up: The fund seeks to reward every participant. So, other players on the leaderboard will split a bountiful $1.05 million worth of $WLTH tokens.
  • Special Recognition: The fund also recognizes Genesis NFT holders and Beta testers for their early support. It allocates additional XP (campaign points) as incentives. 

The campaign is open to everyone. It involves completing particular off-chain and on-chain tasks associated with each fund project. The fund tracks progress using a leaderboard. Most importantly, only verified participants who complete the minimum tasks will receive rewards. 

Participants will complete tasks that have been grouped into five quests on various social media platforms. Each project has five quests, one for every major social media network. Three or more missions make up each quest.

Participants receive XP points for completing these Missions. In addition, completing all of the missions within a Quest provides extra rewards. The biggest reward, a sizable increase in XP, is saved for players who finish every quest in a project. 

Commonwealth will host two launch parties on Tuesday, February 20, and Wednesday, February 21, with some of the participating projects. The details for both dates are in the image below. 

To join the parties, simply be on the CommonWealth Twitter profile (@joincommonwlth) at the specified dates and times. 

Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. This post is sponsored by Common Wealth.

 

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