Graph Paper Capital reposted this
Last year, when Gabriel Anderson was first launching Graph Paper Capital, he asked Integral Labs to help build the fund’s investment model. The most unique part of that project was designing a system to tokenize and distribute carried interest to a broad network of contributors. Gabriel and I had been discussing tokenized carry since 2019. Building on some of the ideas from Coven (https://lnkd.in/eYrNEcKi), an early attempt at a decentralized venture fund, the idea was to give portfolio founders access to a deep bench of experts, and rewarding those experts for their contributions. Integral Labs drew inspiration from Hypercerts (https://lnkd.in/eq-VaREU) and developed a system of retroactively evaluating each contributor’s referrals, activity, and impact. The very first contribution requests we launched with the new system were projects to support the system with GPC Network Pass NFTs (created by Hedgey), and a real-time contributor dashboard (created by Proof of Teamwork). Ultimately, over 80 people contributed to GPC’s 1st cohort. 90% of the cohort companies came from contributor referrals, and the cohort recognized 45 unique contributors for supporting them as high-impact mentors and advisors—an order of magnitude more than at other leading startup accelerator programs. GPC just launched applications for its 2nd cohort, again with tokenized carry as a core element of the program. We are exited to continue our relationship with GPC and support the next group of founders.
🚀 GPC S24 Applications Now Open! What's New: $400K total investment, 2 IRL components (EthCC & NYC) & Expanded venture partner network. 📅 Application deadline: April 30 👇 Our mission at GPC is to propel pre-seed/seed web3 startups to find PMF & get to default alive, no small feat in #web3. ✅ Benefits: 💪 Capital & a dedicated Group Partner 🤝 Access to an expansive network of founders, builders, investors & domain experts 🙌 A 12-week hybrid accelerator program tailored for ambitious #web3 ✅ Who you are: An ambitious founder with a strong bias towards action, building in web3! Apply by April 30 to kickstart your journey with us at #EthCC '24, with an exclusive founders retreat. ✅ Application Link, program details & investment terms on our website: https://lnkd.in/djgDJdd6 #web3 #crypto #startupaccelerator #gpcs24