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Eric Arsenault
@erico
Despite the early promise, crypto has failed to disrupt early stage financing. If you’re a founder or creator who HAS raised or WILL raise capital, this thread is for you ❤️ 🧵👇 1/4
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Eric Arsenault
@erico
Entire businesses can now be built in a Frame, leveraging existing protocols (Farcaster, Lens) communities ($DEGEN, $BONSAI) and tools (Frames.js) Who's gonna fund Frames, Channels, and silly games that could turn a profit? ⚠️ Many are NOT venture fundable ⚠️ Grants are PAINFUL ⚠️ Tips don’t cut it 2/4
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Eric Arsenault
@erico
Capital formation should be more social, transparent, and meritocratic - while solving issues like this funding gap Today we launch Fundraising Frames via @ventureclub ✅ Raise using any ERC20 ✅ Gate using onchain credentials ✅ Fully transparent and compliant ✅ Live on Farcaster and Lens 3/4
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Eric Arsenault
@erico
To kick things off, we’re raising $50K for @ventureclub via this Frame Special thanks Lens, Hey.xyz @fabric @frames @farcaster for making this possible ❤️ Which app / founder would you like to see funded via Frames? Nominate them below! Next raise coming soon. https://venture-club-frame.netlify.app 4/4
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Samuel
@samuellhuber.eth
Why are no terms listed for the investment in the frame?
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Eric Arsenault
@erico
More Info has a link to terms and our slides, feel free to DM if you have any questions!
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Samuel
@samuellhuber.eth
biggest Q that comes up, what happens to equity I invest into via these frames etc if Venture Club were to go away. and how's the legal structure. I didn't understand the abbreviations in the learn more
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Eric Arsenault
@erico
docs.ventureclub.club has more info, tldr is we use a similar legal structure as AngelList (a LLC invests in the project). Assets belong to LLC members, if Venture Club were to disappear, asset owners would still own the LLC and could decide to keep the asset there or move it somewhere else if they want.
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