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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.
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.”
STORY CONTINUES BELOW
Read more: Dapper Labs Is Bringing Its NFTs to the NFL
Additional reporting by Nelson Wang
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
