POAP inc. raises $10M to accelerate human development | POAP

POAP is one of my very favorite crypto projects out there. I like collecting things, and creating events and distributing tokens to friends around things that happen in-real-life is fun. I've created POAP events for many things. The project is very successful and has struggled to deal with growing pains. In the last 3-4 months they started to make some significant changes to set themselves up for the next phase. Overall, I’m excited for the team that they have formalized the project to a company, and they have successfully raised funding to help make it all work. TechCrunch article is also good.

That's the good.

However, I scratch my head at why crypto projects like POAP take a traditional approach like this. POAP could have also formalized itself around a DAO. It could have allowed people to buy in and be part of it. Instead they pursued a closed, traditional means of raising money. Opensea also did this recently. I can give Opensea a bit of a pass because they are so much bigger, but I think POAP could have taken a different path. Maybe they will get there and transition similar to how ENS has… 🤞