EnterDAO ‘22 recap, ‘23 plans and beyond

a.k.a Building thru the bear

2022 was the first full calendar year (after inception in August 2021) in the life of EnterDAO and what a year it has been. Arguably the most turbulent year in the history of crypto. But here we are.

With this article, we’ll take a look at what happened at EnterDAO in 2022, as well as what’s in store for 2023 and beyond.

• LandWorks launched. Our first product went live in January, the first land-rental marketplace at the time. Fast forward a year later, LandWorks v2 is on the market, with 300+ successful rents, totaling 5200+ days of rent. Check the Dune dashboard for in depth data.
• Sharded Minds NFTs sold out. We dropped these with the goal to integrate across both products and bring access to new games, virtual spaces and events.
• The Sharded Minds community also got a time-vested $ENTR airdrop to participate in governance.
• MetaPortal went live in March! A single point of access for Web3 games, events and frens. Since the launch, we’ve integrated Polygon, Binance Chain and Avalanche, in addition to the Ethereum mainnet. We even dropped our own mini game Metavenger. We saw a fierce battle until the last minutes between community members for the first place in our season 1 competition.
• We showcased the top metaverse scene builders, allowing people to access the right partner for their metaverse activation.
• The first edition of LandWorks grants went through, awarding $50k USD and 50k ENTR across 9 Decentralnd scenes which are open-sourced for anyone to use. The metaverse is all about creators and empowering them is a core focus of ours.
• We threw our very first metaverse event, in Decentraland and for a special ocassion — our 1 year birthday party. The party was hosted on our new metaverse HQ and brought the EnterDAO community together. Musical vibes were provided by none other than our dear contributor Raredub. All party attendees also got exclusive swag — an EnterDAO wearable for Decentraland.
• We signed multiple partnerships, namely with Voxels, Boson Protocol, Precision X and [REDACTED]. More on the last two below.
• Last, but not least, we’ve optimized burn and team structure in order to survive a prolonged bear. We have not exhausted our seed funding and have an additional 437 ETH in the treasury to take us beyond ‘23.

None of this would’ve been possible without the EnterDAO community and the amazing team of contributors that have been part of our journey. We’ve not only survived 2022, but have shipped consistently throughout. Looking forward, a core focus for 2023 will be bringing the DAO a step closer to sustainability. Here are the main focus areas, but a big theme throughout obviously is revenue generation:

• Bringing additional revenue streams for LandWorks. The first big one in this regard is the advertisement partnership with Precision X. Land owners will be able to monetize their land in one more way by using it for ads and receiving part of the ad revenues. A detailed write-up on the mechanics and economics of this is coming very soon. This makes LandWorks the first platform where land owners can monetize their land in more than one way.
• Revenue sharing with other marketplaces/protocols. We’ve worked hard to enable revenue sharing (on-chain) for every project that wants to offer rentals to their audience. Now that we’re done on the technical side, we’ll be pushing in the business development department to grow our integration pipeline and increase LandWorks volumes.
• While we’ve shipped a tone of features to MetaPortal, Web3 games have been slower to deliver than initially expected and the product is currently ahead of the market. As the product is currently not bringing revenues to the DAO, we’ll not be looking to add more features to it (optimizing costs) until the Web3 gaming space matures and we have engaging titles on the market. MetaPortal will still be live and we’ll be adding content to it.
• Bringing new partnerships and content to the Sharded Minds community. The first domino falls with the advertising integration in LandWorks (more info soon). 2023 is the year when the Sharded Minds go beyond Decentraland and Voxels, so stay tuned for AAA game partnerships, as well.
• We had a strong focus on empowering creators in 2022 (Scene Builders program, Grants program) and this will continue strongly throughout 2023 as it’s essential for LandWorks adoption.
• A stronger focus on marketing and business development. EnterDAO has boasted a culture of constantly shipping and building (as expected from a strongly technical team). With both of our products live and with initial traction, we’re strongly positioned to invest more heavily in marketing and biz dev initiatives, now that there’s somewhat of an attention arbitrage in a more quiet, bear market.

Throughout the product development cycle of both products, the EnterDAO team has constantly experimented with new NFT financial primitives and products. We’ve talked about some of those that had been in development, but so we’ve collectively decided to not invest continuously due to lack of market maturity. Namely, we’ve had two products in the pipeline that we’ve not released, as we couldn’t validate a sufficient market demand for them:

• Fractionalization of metaverse land (integrated with renting)
• Generalized NFT renting

The financial ecosystem around NFTs is still in its infancy and as a core team, it’s our responsibility to invest the DAO’s resources in the most efficient manner. Building products with no current market demand is a recipe for disaster. However, our space is known to have explosive growth and should market conditions change, we’re very well positioned to bring any of these two products on the market.

To sum up, EnterDAO is here to stay and after shipping both of our products + an NFT collection in 2022, our core focus for 2023 will be achieving product market fit and DAO sustainability through revenue growth.