Started just over a year ago, Friends With Benefits is a self-organized and internet native community that is collectively building the ultimate cultural membership.
These funds purchased tokens from the FWB DAO treasury - setting precedence for how future community owned platforms can build along side venture capital support. In Web2, founders pitch investorsโ often at misalignment with their users and community. In Web3, communities own and drive the product, introducing a new dynamic where an empowered community has the choice to accept outside investment if it aligns with its strategic goals.
As FWB gained traction through a series of successful product launches, the community received inbound interest from investors who were drawn to the autonomy and collective culture of the group.
We set up a Temporary Investment Committee comprised of community members to evolve the discourse through an advisory group of investors, legal consultants, and community stakeholdersโ all tasked with providing honest input and summarizing major points to be shared with the community at large through our public Governance channels.
As momentum escalated after the initial Town Hall, investors were eager to propose how they might participate in different community initiatives. From joining Product Team discussions and vision-mapping sessions to hosting a physical event in NYC , the prospective investors demonstrated their interest in aligning with the community in a tangible way. Our Team Leads presented a multi year vision, roadmap, and strategy alongside proposed use of funds and initial terms with actionable ways for anyone to get involved.
