It’s been just over a month since the launch of FWB Pro and the start of Season Two.
In a short window of time, Friends with Benefits (FWB for short) has strengthened its foothold in the growing social token community.
For those unfamiliar, Friends with Benefits is a digital community exploring the intersection of culture and crypto.
FWB is now home to over 1000 members holding at least 60 $FWB tokens to access a diverse group of channels, events and experiments.
Treasury Diversification
Today, we’re happy to announce that the FWB community has welcomed a suite of leading contributors through our first Treasury Diversification proposals.
The FWB community voted to swap 70,000 $FWB for $700k USD worth of contributions from Divergence, Variant, Collab+Currency, Nascent, GPs of Polychain, The LAO, MetaCartel Ventures and Galaxy Interactive.
This comes alongside a vote to swap 7900 $FWB for 4380 $WHALE - further aligning two of the leading social token communities in our efforts to grow the sector and support positive sum games.
But, the ball doesn’t stop there.
FWB as a Curator DAO
FWB’s collective consciousness puts our community in a unique position to act as a leading resource on cultural relevance, including everything from food to music, memes, events and everything in between.
As we continue to build a deep network of subject matter experts - it’s important that we aggregate this knowledge into resources which help our Friends navigate an ever-changing world.
FWB will develop decentralized curation products that source culturally relevant topics.
The first step towards this was a Host Committee - responsible for overseeing the onboarding of new members to the FWB community. What started as a filter to ensure applicants gelled with the community has quickly turned into a highly aligned group of advocates fine-tuning what it means to be a part of FWB and creating resources for others to get involved!
The next was a Governance Committee - responsible for educating, encouraging and presenting governance proposals to and from the FWB community like the ones described above.
The first budget proposal for April and May has successfully passed as of this morning. In tandem, we’re thrilled to be working alongside Llama to better track, compartmentalize and oversee the ongoing utilization of the FWB treasury.
Next up is our biggest project to date - giving the community a platform to curate, incubate and earn commissions from an FWB-branded NFT gallery.
This product is set to be the first of many routing on-chain cash flows back to the FWB DAO - a project we look forward to sharing more details on SoonTM.
Moving forward, we envision different vertices of FWB each forming their own committee, allowing members to curate topics which are aggregated and governed by FWB holders such as member directories, city guides and newsletters.
The Path Forward
The interest around creator DAOs grows by the day. Projects like PleasrDAO, SongCamp, PartyDAO and SquiggleDAO are some of the many ways communities are banding together to leverage shared resources to create positive sum opportunities.
FWB sits in a unique position to be a leader in that category - sourcing the best talent from crypto and beyond to build tools and products which service the growing movement towards collective creation.
If you or someone you know are interested in joining FWB - check out our application flow.
We look forward to growing FWB as the leading curation group in web3.
To our existing members - thank you for your ongoing support, commitment and love. To our soon-to-be new members - what are you waiting for?
With love,
FWB Staff