New Order, which has raised $4 million for its incubator program, said it will work with Outlier Ventures to explore the emerging world of “MetaFi”, which refers to DeFi applied to the metaverse.
Decentralized finance application developers are getting a boost from New Order, which has just cemented an official partnership with Outlier Ventures’ web3 accelerator Base Camp to kick-start up to 40 new DeFi projects in the next two years.
New Order is a permissionless, community-led DAO incubator that’s focused on projects that share its belief in a future where DeFi is multi-chain and driven by machine intelligence, encompassing emerging assets such as NFTs.
New Order, which has raised $4 million for its incubator program, said it will work with Outlier Ventures to explore the emerging world of “MetaFi”, which refers to DeFi applied to the metaverse. It’s taking inspiration from NFTs that have been used as collateral for multi-million dollar loans, for example.
The idea is that select DeFi projects can tap into New Order’s ecosystem-as-a-service that’s populated by investors, builders and smart contract developers to seek expertise in building their apps. As New Order Founder Eden Dhaliwal explains it, oftentimes it’s not a lack of funding that prevents DeFi projects from taking off, but rather the inability of their founders to build a community to support their ideas. So that’s where a ready-made network of experts who share an interest in those projects succeeding can play a big role.
Financing is still necessary though, so at the same time, New Order’s treasury will distribute financial resources to the most exciting projects it uncovers. New Order is aiming to create nothing less than a “virtuous cycle” in which successful DeFi apps it incubates will return revenue to its treasury via a dApp marketplace, yield returns and token growth. Those revenues will then be reinvested into new projects to help them accumulate similar growth.
Outlier Venture’s Base Camp web3 accelerator has a strong pedigree when it comes to backing new ideas in DeFi, having raised more than $250 million for web3, or metaverse startups built upon public blockchains that put transparency at the forefront.
“With Outlier’s industry leading Web3 accelerator and New Order’s DeFi ecosystem, our DeFi Base Camp will launch exciting projects that will bring new DeFi products and user experiences to Web3 communities, CeFi, metaverses and more,” Dhaliwal promised.
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