Podcast: Floor Is Rising
Welcome to the podcast Floor Is Rising with host SabreTooth, a professional NFT collector and Kizu, a professional art critic. On this podcast, we talk deeply about the business of creating, collecting and analyzing NFTs. So, if you’re a creator or collector of NFTs, jump in!
On today’s episode, SabreTooth and Kizu interview the two pseudonymous founders of PangeaDAO, Punk8621 and Albert Wegener. As Albert and Punk explain, PangeaDAO is a collective of investors, artists, creators, builders, and people who want to create cool things in the metaverse and to gain exposure to different kinds of metaverse land (“land” that is perhaps better understood with the analogy of a software engineering SDK). PangeaDAO is designed to bring people together to acquire metaverse land and develop on it, creating revenue-generating ventures. The work of PangeaDAO is not all about revenue, though, but is about creating things of lasting value that benefit the community, as well as making an easy way for any individual or retail investor to get access to a diversified portfolio of metaverse land assets.
This focus on access works against the current barriers to entry for individuals and investors who are not associated with large companies, and intends to make the metaverse a more equitable space. The focus also represents the central concern that drove Punk and Albert to develop the plan for PangeaDAO in the first place. They describe their respective backgrounds in the NFT space, and how they arrived at the realization that people need relationships and networks in order to acquire metaverse land. Without ample funds and the right contacts, small retail investors have a disadvantage in their efforts to buy, and the advantages enjoyed by larger companies skew areas of the metaverse in their favor.
Given the fact that land is only as valuable as what you do with it, Punk and Albert established their cooperative in order to do something productive with land using a network of creatives. While big companies are currently snapping up land to hold as a revenue-generating asset, organizations like PangeaDAO intend to build gallery spaces, in-world games, and other such ventures that offer long-term value. While use cases like in-world games are currently popular in the metaverse, they are only the beginning. Punk and Albert expect the metaverse to shape the future of work and social media, and much more. The metaverse in general offers a place to connect, host, and bring in culture, and Punk and Albert expect that it is only the first iteration of the next version of the internet!
Even with all the efforts toward metaverse decentralization, its free market will always mean that there are winners and losers, as well as trends of gentrification. However, if a world constructed within the metaverse becomes unpalatable to those in it, people are free to simply leave it and build a new one. And the structure of the metaverse is such that buyers and builders stand to benefit from developing things that help others. With these realities in mind, Punk and Albert are excited about PangeaDAO’s future! They explain the origin story of their team, and also share both about their steps to make the organization legally compliant and about PangeaDAO’s financial structure and its commitment to avoid institutional investment income prior to public sale. PangeaDAO’s pre-sale is intended to bootstep liquidity for its token launch, but to also maintain equity as the organization opens up to buyers. With equity in its launch and equity in its vision, those interested in getting into metaverse development can expect great things from PangeaDAO in the days ahead!
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0:57 – Introduction to this episode and today’s guests, Albert Wegener and Punk8621.
6:28 – The disadvantage a small retain investor has compared to a large company.
10:09 – PangeaDAO’s legal status and currently popular metaverse use cases.
15:43 – What lessons can we learn about building a community with a greater sense of equity?
21:06 – On use of the word “land” and projections of additional metaverse land utility.
25:44 – PangeaDAO’s team origin story, financial structure, and launch
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