DAO-Builder SuperDao Shuts Shop, Returns Investor Money

The all-in-one DAO raised $10.5 million in 2021, leftover funds will be returned to investors.

AccessTimeIconOct 19, 2023 at 9:22 a.m. UTC
Updated Oct 19, 2023 at 10:02 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

SuperDao, the platform that helps communities build their decentralized autonomous organization (DAO), has announced that it is shutting down and returning leftover money to investors.

DAOs are blockchain-based organizations that are governed by code instead of leaders.

  • Key Events You Shouldn't Miss at Consensus 2024
    Key Events You Shouldn't Miss at Consensus 2024
  • What to Expect From Consensus 2024
    What to Expect From Consensus 2024
  • Will Solana and Altcoins Dominate the Market Next?
    Will Solana and Altcoins Dominate the Market Next?
  • What's Next for FIT21?
    What's Next for FIT21?
  • The firm raised $10.5 million in its seed round in 2021 with investment from SignalFIre, Circle and One Block Capital.

    SuperDao set lofty ambitions by trying to purchase advertising space at the 2022 Super Bowl before the likes of FTX and Crypto.com swooped in with multi-million dollar deals for themselves.

    "It became clear that the crypto industry itself becomes much smaller than its initial ambition ('the new internet') and specialized tools for crypto companies are unlikely to produce venture-scale outcomes," the company wrote in an official announcement.

    Despite supporting over 2,000 DAOs, SuperDao found that most newly formed DAOs were short-lived, which meant the underlying business was unsustainable.

    SuperDao moved into wallet indexing and on-chain analytics, and these products will cease.

    Edited by Parikshit Mishra.


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

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight

    Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

    Read more about