Adventure #13 - Prop House

Get funded to build with your favorite communities

Welcome to the 13th issue of web3adventures where I shed light on web3 businesses.

We’ll use a simple framework that covers:(1) The company(2) The founding team(3) Funding and hiring(4) Why the business excites me

Disclaimer: None of this is sponsored, I choose what to write about. This is not financial advice either!

Today we're looking into - Prop House

The "company"

It's definitely not a company, don't think it's a protocol either.

Prop House is like a fundraising platform where community members can put forward proposals. Holders then vote on which project gets funded.

Prop House was built by Nouns DAO which is a fascinating project.

I've been following Nouns for a while and I think it'll be one of the biggest movements in web3⌐◨-◨

TLDR:1. NounsDAO want to increase its exposure so they set a budget.e.g 1eth for each of the top 5 proposals

2. Community members submit proposals for how to do that

3. The Nouns holders vote on the best proposals

4. The top winning proposals receive the funding

We can think of it as a bounty but operated and voted on by the community.

So far, they've picked up great traction with over 700eth being allocated to proposals.

I've actually just found a great explanation by Rug Radio. Here it goes👇

The founding team

There is no actual founding team.

It was built by the community for the community. It's fascinating!

Funding and Hiring

A) Funding - yeah they got plenty 😅

B) HiringIf you want to contribute, I would definitely recommend getting more involved.

It's not a typical hiring process, it'll be more based on what value you can bring.

I certainly plan on giving it a shot in the future!

Why this "business" excites me

I like the aggregated view of different communities' proposals. I think one can learn a lot from reading and studying them.

 Secondly, I really like what the Nouns community is doing. I'm wildly underexposed & undereducated.

^ Will change that v soon!

Fun fact: I learned about NounsDAO from a YouTube video

Favourite meme of the week

We'll leave it at that as I need to go and write a business plan.So far it's coming together nicely, will share in the future!

Anyway, I don't have a business in mind for the next newsletter issue.

If you got a suggestion, send me a DM on Twitter. Will gladly send you $10 in USDT if I choose your idea.

I want to think of more ways to engage with you guys. I much prefer a community over an audience.

I know with beehiiv is a bit tricky to comment on posts but I'll figure something out.You know I always do haha!

Anyway, see you next Sunday!

Wishing you a productive week ahead!- Mitko