PartyDAO is a decentralized software organization formed in May 2021 around the vision of building multiplayer crypto products. We believe group coordination is a core behavior of the Internet, and we reflect this focus in both our organizational design and the software we build. Today we’re excited to announce our $16.4M fundraise led by a16z crypto, accompanied by some of the best founders and investors in our space.
Our first product, PartyBid V1, is a protocol for buying an NFT together as a group. It’s a simple use case, but we love the product for a few reasons:
PartyBid V1 demonstrates a pattern that’s fundamental to our mission: it takes a single-player experience and transforms it into a multiplayer one. This type of shift is powerful - it opens up possibilities for people to join forces and assemble around a shared goal. As crypto rapidly grows, we believe building products around this idea is the most exciting work to tackle.
Today, we're excited to release a full new version of PartyBid! Over the past few months, we've learned a ton from the amazing activity happening on the protocol, and we're excited to launch a new set of features that will take PartyBid to the next level. Check out the new website at https://partybid.app, or keep reading to learn more.
Starting today, you can create a Party for any Buy Now listing on OpenSea!
Today we’re going live with the latest round of updates to PartyBid, starting with a new feature called Party Splits. Party Splits let you start a party and grant a portion of the fractional tokens to any address you choose.
Though it’s a simple primitive, this feature can be used in a variety of ways.
You can see Party Splits in action now by starting a party at partybid.app or join the latest party from the Crypto Cookout. The Crypto Cookout is a purpose-driven community focused on collecting black punks. They are using Party Splits to fund a community governed multisig that will help organize a wider network of supporters and contributors to the Crypto Cookout movement.
A few days after PartyDAO's formation, we stated our two primary mandates:
Over the past few months, our members built and shipped PartyBid V1 to resounding success. In its first 48 hours live, PartyBid processed over 1200 ETH in volume and earned over 60 ETH, with Parties pulling in victories on several high-profile auctions. Since launch, over 2600 ETH have been contributed to Parties.
As we continue to build and improve PartyBid, we're expanding our focus to ensure that we deliver on our second mandate: growing PartyDAO into a successful long-term organization. Doing so requires a clear long-term vision for what we aim to achieve, and as a DAO that builds software, we think it's most important to articulate our vision for the software we intend to build.
We’re excited to introduce PartyBid V1! Check it out at http://partybid.app and see our Github for the contracts deployed to Ethereum mainnet. Start a party on any Foundation or Zora auction or join one of the launch parties:
PartyBid is a product that lets groups of people combine their capital and bid on NFT auctions together. Anyone can create or join a PartyBid, contribute ETH, and place bids as part of a collective. DAOs are an emerging model for combining capital and coordinating action. The goal of PartyBid is to lower the barrier for this kind of coordination. For a fuller description of the product’s features and mechanics, please see our about page. We would like to note that V1 is a new protocol and product, and we cannot guarantee all bugs have been found and resolved.
Here’s a brief digest of what's been happening in PartyDAO over the past few weeks.
After discussing several proposed solutions for party-controlled NFT sales, our solidity team decided to integrate Fractional.art for the V1 product. This decision simplified the scope of our smart contracts and improved our product launch timeline. We plan to expand the possibilities for party-controlled sales in future versions.
Additionally, a new proposal was passed this week to fund a security-focused review of the PartyBid V1 smart contracts.
Here’s a brief digest of what went down in PartyDAO over the past week.
The initial draft of PartyBid V1 is now complete! Anna, our lead solidity developer, got a ton accomplished over the past week, going from zero to a completed first draft. The code is now being reviewed by our other solidity developers, Arpit, Graeme, and Steve.
We'll continue to make improvements throughout next week in parallel with design and frontend work.
PartyDAO has two primary mandates.
PartyDAO is different from many DAOs that have come before it. To date, DAOs have mostly been synonymous with a treasury of funds + group voting on where to send those funds. PartyDAO aims to be something more fun: we are a fully decentralized organization that actually ships products.
Already, PartyDAO has assembled a squad of partiers with strong capabilities in design, engineering, smart contract development, and writing. As we build this first product, we'll combine our skills to ship a product at a quality level typically only seen at top-tier startups. In doing so, we will begin to expand on the idea of what a DAO is capable of.