Upside DAO

Upside DAO is a decentralized autonomous organization (DAO) and incubator focused on supporting Australian founders in building global Web3 organizations. Established in 2022, the DAO has raised $5 million to invest in and support emerging Web3 startups, primarily within the Australian ecosystem. The organization was founded by a collective of prominent Australian Web3 founders and entities, including representatives from Apollo Capital, Banxa, Caleb & Brown, Ren Protocol, Synthetix, and ZedRun, among others. The core mission of Upside DAO is to reinvest capital, industry expertise, and network connections back into the Australian Web3 landscape to foster local talent and encourage founders to build global-scale companies from Australia. Unlike a traditional investment fund, Upside DAO's investment decisions and portfolio advisory are coordinated by its members through a community-governed, blockchain-based voting mechanism. The DAO functions as a venture ecosystem, providing capital through a Founders Fund that offers investments up to $100,000 USD, access to a community of crypto-native founders and experts, and a central builders hub in Australia. The business model is centered on identifying and nurturing high-potential startups across various Web3 domains. Its investment portfolio includes companies in DeFi, Web3 tooling, infrastructure, Metaverse, and GameFi. Initial investments have been made in companies such as Reservoir, a developer platform for NFT products; PrePO, a decentralized exchange for pre-token and pre-IPO assets; and Mirror Planet, a metaverse platform integrated with Google Maps. By acting as both an investment vehicle and an incubator, Upside DAO provides capital and structured support to help its portfolio companies navigate the complexities of the Web3 market. The DAO itself is a contributor-driven system where members, who are successful founders and experts, source, evaluate, and invest in new ventures.

Upside DAO's approach emphasizes community governance and decentralized decision-making, distinguishing it from traditional venture capital firms. This structure allows for a more inclusive and transparent investment process, enabling members to have a direct impact on the organization's direction and the success of its portfolio companies. The DAO's focus on the Australian market aims to leverage the country's growing presence in the Web3 space, providing a supportive environment for startups to thrive. By combining capital investment with a strong advisory network and community support, Upside DAO seeks to empower founders to build innovative products and services that contribute to the global Web3 ecosystem.

Through its unique structure and mission, Upside DAO represents a new model of venture capital that aligns with the decentralized ethos of the Web3 movement. Its commitment to fostering local talent and supporting the growth of Australian Web3 startups positions it as a significant player in the evolving landscape of decentralized finance and blockchain technology. The DAO's ongoing efforts to expand its portfolio and community engagement reflect its dedication to driving innovation and creating value within the Web3 sector.