nfDAO: Moving the NFT Ecosystem Forward
Panvala Observer Weekly Newsletter
This week we spoke with Muskan Kalra, summoner of nfDAO, a community that is passionate about supporting and growing NFT projects globally.
Rise of the NFT
This has been the year of NFTs. A few months ago, Muskan Kalra and a group of other web3 enthusiasts recognized a need to support smaller scale NFT projects that would add value to the NFT ecosystem and summoned nfDAO. nfDAO is a grant-giving community founded to help potential game-changing NFT projects and provide them with the necessary resources to thrive. Currently comprised of about 35 notable members and two organizations (MetaCartel and Polygon), this group has already offered funding to two amazing projects: Korean NFT and Prison Art. Members, coming from all backgrounds (tech, art, community, etc.), meet biweekly to talk about how to grow nfDAO; they also invite projects looking for funding to come showcase their ideas. “nfDAO is a home for NFTs. As a community we are here to invite and educate more and more people about NFTs. Whatever you are doing in NFTs, you can come for a chat with us!” Muskan shared, enthusiastically.
Muskan comes to this space with a love of people and community. “Some people come from a finance background and love DeFi, some people are artists and love NFTs. Me, I love DAOs. I love that DAOs are transforming how people work and come together,” she told us. She also laughed and admitted that she is not much of an artist, but that she wants to harness the power of community to support the web3 space and the rise of NFT projects—especially ones that are rich in motivation but lacking in resources. She specified that there aren’t necessarily any rules for which projects can receive grants from nfDAO, “just as long as they are adding value and supporting the ethos of the NFT ecosystem.”
Muskan wrote in a blog post, “nfDAO has the potential to become a major contributor to the growth and development of the NFT and Ethereum ecosystem as a whole. When passionate and knowledgeable community members support the Blockchain ecosystem, we can achieve greater adoption and value for the whole industry.” At this time, nfDAO is welcoming new members—both individuals and organizations. To join nfDAO, individual members pledge 100 DAI and organizations pledge 5000 DAI—all of these funds are used to support NFT projects. “What we expect from members is simply to help grow the DAO and community. We divide work amongst selves. You could be tech guy, marketing person, NFT artist, collector…anyone can who wants to add value to the DAO and take the mission forward is welcome.” For memberships, head to nfDAO’s Discord page, and you can learn more about nfDAO on their Twitter or Substack!