Dapper Labs Acquires Influencer Platform Brud, Launches Unit Focusing on DAOs

The new Dapper Collective division will be run by Brud’s CEO, Trevor McFedries.

AccessTimeIconOct 4, 2021 at 7:24 p.m. UTC
Updated Oct 4, 2021 at 10:21 p.m. UTC

Tanzeel Akhtar is a reporter based in London,UK.

Non-fungible token (NFT) powerhouse Dapper Labs has acquired the influencer platform Brud and is launching a new business dubbed “Dapper Collective” that will focus on helping communities build decentralized autonomous organization (DAOs) via its Flow blockchain.

  • No terms were disclosed, but the compensation was all equity-based, according to Dapper, the company behind the popular NBA Top Shot NFT marketplace.
  • The Dapper Collective unit will be led by Brud CEO Trevor McFedries.
  • Brud is a well known start-up behind the fictional virtual celebrity Lil Miquela, as well as social DAO Friends with Benefits, whose token has a market cap of almost $77 million.
  • McFedries and his team will work with original IP and online platforms to introduce ways to transition creators and users into owners, giving them greater ability to influence and share their stories with the world, according to Dapper.
  • “We believe decentralization of these communities through DAOs really strengthens the content that they will produce,” Amanda Schwartz, vice president of operations and strategy at Dapper Labs, told CoinDesk.
  • Schwartz added that McFedries and his team will develop a strategy and roadmap for “developing tools we will offer to creators’ platforms of all kinds within the Flow ecosystem.”

Additional reporting by Nelson Wang


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Tanzeel Akhtar is a reporter based in London,UK.

CoinDesk - Unknown

Tanzeel Akhtar is a reporter based in London,UK.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC