MetaFactory Distributes Ownership Via ROBOT Token

Screen Shot 2020-10-06 at 4.08.54 PM

What happens when you create a fair launch governance token for a community-owned digi-physical brand apparel platform? You get $ROBOT.

MetaFactory, which produces limited edition  wearables for crypto designers advancing Web3 culture, is distributing the ownership of the project via a token called ROBOT. The initial token distribution of 39k ROBOT went to the 43 buyers and designers of MetaFactory’s Genesis Bomber jacket, which fulfilled the first $25k sales milestone. The token has a fixed supply of 420k. 

Those early supporters, (full disclosure: myself included), have already received the reversible, ETH-themed jacket.

ROBOT Governance

ROBOT holders will vote to approve future token allocation to buyers, designers and contributors to the project. They will also vote on other decisions, including product curation, token mechanics, platform features etc. 

The project has been quick to hop on growing DeFi trends, offering YFI hoodies with a ‘test in prod’ sleeve tag and ‘Yam Jams’ to pay tribute to Yam Finance fueling the food coin yield chase.

The project will continue distributing ROBOT retroactively for purchases before Sept. 30. After that, transferability will be enabled and circulating supply will be about 100k ROBOT. Future tokens will be  distributed through a community-owned multisig called the BotFarm.

“As the crypto art and NFT space evolves, it’s clear that there are two distinct user types: creators and collectors. And although different in their contribution, both require a way to be rewarded for the value they create.” Metafactory cofounder Drew Harding told The Defiant. “$ROBOT will allow us to democratize access and participation in the brands, market and culture of the future – as we define it together.”

By routing funding proposals through a DAO and offering transparency into the LLC’s operations for anyone holding more than 500 ROBOT, MetaFactory continues to push the envelope on a community-owned wearable brand.

✊ Head to THEDEFIANT.IO for more DeFi news 📰

Leave a Comment

Your email address will not be published. Required fields are marked *