metadata: {"type": "project", "title": "red3", "website": "https://red3.me", "bannerImg": "bafkreicc2g3qcd56ler3ap4se7idcxlufh7sqoynj5lcueocrczkvcng4a", "createdAt": 1722455975570, "userGithub": "wkyleg", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..5xpIGhs1TKyTaWJDZjzfQT-VIsxXAqtWi9GILnawTFBGn82jExtejcWMvyt_zLdNYWX9awd1t3CkqiAK5Vc6Dw", "type": "Ed25519Signature2018", "created": "2024-07-31T19:53:01.506Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-07-31T19:53:01.506Z", "expirationDate": "2024-10-29T19:53:01.506Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x4fF2B7275876C3Ffd754145eb2304F4f4eb95443", "hash": "v0.0.0:0NaIeChBn1aEKKWXYZ66Pdc3NDhW+V4imSz0ICZcEuo=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#wkylegDotEth"}}}, "description": "red3 is a platform for Decentralized Autonomous Corporations (DACs).\n\nWe believe common understanding of what DAOs are and the problems they best solve are misguided: DACs and DAOs solve fundamentally different problems. \n\nA DAC is an on-chain company, formed do to transaction costs inherent in production per Ronald Coase\u2019s famous essay \u201cThe Nature of the Firm.\u201d A DAO is a \u201ccommons based peer production\u201d organization, which organizes large numbers of decentralized participants though new advances in efficiency from telecommunications technology. CBPP is most famously described in Yochai Benkler\u2019s essay \u201cCoase's Penguin, or Linux and the Nature of the Firm.\u201d\n\nSome problems we believe DACs will solve: \n- Creators are stuck competing for attention in negative sum games instead of building together \n- Creators can\u2019t raise equity from fans to build interesting projects. For instance, recent advances in generative AI make it much easier for fanbases to crowd fund new films.\n- Current IP-NFTs and IP-Tokens are not well structured for raising capital in advance of a project. \n- In much of the developing world forming a firm is difficult because of regulation, corruption, lack of strong institutions, and other missing infrastructure.\n\nSo far red3 has link-sharing pages to serve as profile pages of DAC members. Users use these pages link off-chain content with on-chain identity by showcasing NFTs, Farcaster, ENS records, a variety of other existing social media networks, tying their existing reputation to their on-chain presence. Also, an MVP of smart contracts for DACs are ready, and will be audited pending funding. I've also conducted business development work and have talked to Desci DAOs interested in using this platform to tokenize on-chain IP.\n\nFunds from this grant will be used to launch this project by auditing DAC contracts and paying Vercel bills for red3. \n\nYou can read more in our pitch deck here: https://docs.google.com/presentation/d/1pw-Ov6yZoXksWQ7utyfw-KVCH05HAh-J6dRItEGz-E8/edit?usp=sharing\n\n \n\n", "bannerImgData": {}, "projectTwitter": "wkylegDotEth"}
name: red3