At Norwest, we’ve been keeping a close eye on the trends and innovation unfolding across the crypto and web3 ecosystem for some time. As a firm, we are very much bought into and excited by the new types of business models, methods of organization and consumer utility that are unlocked by leveraging the power of blockchain technology. The tenants of openness, composability and user sovereignty and ownership have the potential to create massive value for all who participate in the growth and success of web3 projects.

While the promise of web3 is still in its infancy, one area where we see tremendous potential is in the rise of Decentralized Autonomous Organizations (DAOs). DAOs, put simply, are an emerging governance model and mechanism for coordinated member participation purpose built for web3. Whether as vehicles to build web3 projects, start social or learning clubs, or form investment groups, DAOs have grown exponentially over the past twelve months.

Yet starting, operating, or even joining a DAO today are non-trivial endeavors that require a high baseline of crypto proficiency that can be challenging for newcomers. Moreover, not unlike their web 2.0 counterparts, DAOs require a whole suite of specialized tools and resources in order to maintain operational efficiency as they scale. Today the process for a would-be DAO creator to go from idea to DAO formation and beyond requires stitching together dozens of single-feature solutions.

This acute challenge of DAO formation and operation is why we’re so excited to back Superdao and its founder Yury Lifshits. Superdao makes it dead-simple to start and formulate a DAO through its all-in-one platform for DAO formation and management. Superdao’s mission is to grow the DAO economy with better infrastructure and to help launch millions of new DAOs in the process. We couldn’t be more thrilled to be partnering with Yury to help him achieve this goal.

Yury is a super-sharp serial entrepreneur with a deep understanding of the challenges and opportunities within the DAO space. His prior experience building great collaboration-focused apps and his strong sense of community are unique superpowers that stood out to us. He’s quickly built an amazing team to attack this problem head on. We’re excited for what’s to come and are eager to watch the next great DAOs be built on Superdao!