The co-founder of Crypto for Black Economic Empowerment (CBBE), a group of 100 Black creators and developers, today revealed the launch of a brand-new crypto equity capital fund: Audacity.
Audacity Fund I is set to disperse the amount of money to African crypto start-ups, with a specific concentrate on decentralized financing (DeFi), the term for blockchain-based jobs that eliminated monetary intermediaries like banks so that individuals can provide, obtain, and trade with one another straight.
Audacity has some significant names backing it, consisting of, CoinShares CSO Meltem Demirors, IDEO CoLab Ventures, and Electric Capital, which offers to finance to early-stage FinTech and crypto jobs.
Though it has one foot in the equity capital world, the other remains in decentralized capital. Audacity will utilize Distribute Procedure, a platform for introducing decentralized self-governing companies (DAOs) and mutual funds. Obotetukudo stated the strategy is to shift the fund into a full-fledged DAO, a company that lets members make financial investment and governance choices by voting with tokens on a blockchain.