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DonJohnson
@DonJohnsonSays
chef @virtuals_io / Co-author of ERC-8126
Joined January 2022
3.1K Following    8.4K Followers
Good lesson here! A token launch and a venture raise aren’t mutually exclusive. Launch with @virtuals_io, bootstrap through our automatic capital formation mechanism, turn token holders into an early distribution network and raise later if your company needs additional capital.
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We wanted to do the opposite of most other projects: while most pre-sell to VCs on undisclosed terms and promise to build a product or find users later, Venice didn’t pre-sell to anyone and had already demonstrated product-market fit for a year by the time VVV was airdropped to the community. The token traded openly for 18 months before Venice brought in outside capital. The participants in Venice’s Series A agreed to these terms because they are aligned with Venice’s long-term vision.
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