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EnterDAO: Building Critical Market Infrastructure for the Metaverse Economy

Oct 17, 2021 · 39 min media

By Tom Shaughnessy

The Delphi Podcast Host and GP of Delphi Ventures Tom Shaughnessy sits down with Zhivko Todorov, co-founder of EnterDAO, a DAO focused on building products to enable new markets within the Web3 metaverse economy. The two discuss Landworks’ potential as a metaverse land rental marketplace, the utility of MetaPortal as a single entry point across the metaverse, the benefits of going DAO-first, and much more!

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Interview Transcript:

Tom (00:00):

Hey, everyone. Welcome back to the podcast. I’m your host, Tom Shaughnessy. Today I’m thrilled to have on Zhivko, who is the founder of EnterDAO. Full disclosure, we’re happy investors. Z, how’s it going?

Zhivko (00:13):

Hey, Tom. Pleasure to be here.

Tom (00:14):

You too, man. We go back and forth on Twitter and Telegram so much, it’s great to finally have you on.

Zhivko (00:19):

Yep, it’s definitely good to be here. And I also don’t want this to sound [inaudible 00:00:25], but I’m actually a fan of the podcasts. It’s one of my go-to sources just to get into the brains of founders and investors, so it’s quite exciting to be here.

Tom (00:36):

That’s awesome, man. No, I appreciate that and we’re happy to have you. So tell us a bit about yourself and how you got started in crypto.

Zhivko (00:43):

Oh, so yeah. My name is Zhivko and usually I’m based out of Bulgaria. Lived around the world for some time, but now back here. I got into crypto in 2017. It was initially a bit of a solo tinkering before I joined a blockchain development company called LimeChain. Before that, I was doing mostly early stage tech VC in Europe, in Bulgaria, in the Netherlands, accelerator stuff, in web too. But at some point, the crypto bug just bit me and I haven’t gone back since. So I have been part of a development company called LimeChain over the past few years. We’ve been building basically everything around DeFi, NFTs, and blockchain infrastructure like tooling and just core blockchain stuff. And we’ve been building hard since 2017, and this year we started, actually a month ago or so, EnterDAO, which is quite exciting, and we’re all excited to build critical market infrastructure for the metaverse economy.

Tom (02:01):

I guess what’s the problem that you guys found with EnterDAO that you wanted to solve, right? You’re with LimeChain, you’re building a couple of projects. And I’m a huge fan of you and your partners at LimeChain, but what hit you guys when you were like, hey you know what? We have this idea, let’s go out with EnterDAO.

Zhivko (02:15):

Sure. So it was not like a single moment where it was this big aha moment, but it was actually accumulation of bunch of stuff that we’ve been seeing over the past year. Obviously, blew this year. The whole NFT space started blowing up with GPK summer and everything. But in parallel to that, we’ve also been seeing the whole metaverse narrative shaping up. And our thesis on that is that we see the metaverse in between all of its complexity as the next big social space where people just basically hang around, attend events, interact with each other and so on and so on through games and social media. But the difference between the metaverse and the social web tools as we know it is that it allows people to actually have oversight and governance in the products that they’re using.

Zhivko (03:25):

So we realized, through the power of crypto and NFTs, that this whole new economy is shaping up. And brands, both from the Web2 site and the Web3 site, we want to be a part of it. And though our work with different projects, we’ve been quite involved in universe with the polymorphs and whatnot. And through basically a bunch of different projects, we started seeing market gaps because the metaverse economy will go growing. It’s still in its infancy and basically lacks quite a bit of infrastructure. So we saw a bunch of market gaps. The first one that we’re trying to solve is basically access to LAND for listeners. If somebody is not aware, basically we have all these metaverse games and they have LAND within them, which could be owned by anyone in a decentralized manner. However, through the rise of popularity of these games and the whole space, LAND has become wide, quite expensive. It’s become hard to get, and it’s also inefficient if you want to use it short-term to own it long-term. [crosstalk 00:04:41] Yep.

Tom (04:41):

Can you give me a examples, too-

Zhivko (04:44):

Sure.

Tom (04:44):

… of any projects that have land that users can purchase and use today?

Zhivko (04:48):

Oh, for sure. Big games like Decentraland, which is live and people can play it sandbox. There’s also Axie Land. Illuvium, which is an up and coming game also, is going to have LAND. So these are kinds of games that people can own LAND.

Tom (05:03):

Got it. Basically what you’re saying is the speculators took over the prices. Price have just gone astronomical, given all the buzz around NFTs and gaming. And basically, you’re saying people don’t really have access anymore.

Zhivko (05:18):

Sure. Yep. People and brands, because you can use the LAND as an investment or you can use it to reach an audience as well, when you build on top of it.

Tom (05:29):

It’s pretty cool. And what do users get when they purchase LAND in the metaverse? If they purchase LAND in Decentraland and if they purchase Axie Land, what exactly are they getting? Are they just getting a picture on OpenSea or is it something that they can actually build their virtual life on?

Zhivko (05:44):

For example, if we take the Decentraland, which I think is a great example of a metaverse LAND, people get an NFT, which is obviously visible on OpenSea, but it’s not any kind of art. It’s just a representation of their land. But what they also get, which is more important, is basically building permissions within the game itself because they own the LAND. So you have a piece of LAND or a bunch of pieces coupled together right on the state. And then through graphics and coal, you can build stuff. Let’s say you can build a shop in the Decentraland for example, just like that.

Tom (06:26):

That’s awesome. Are you pretty active in these games today or no?

Zhivko (06:31):

Oh, I’ve been to Decentraland. We attend to how often we have our basically weekly meetings or ad hoc meetings in the Decentraland just to get a feel of everything. But they’re also a bunch of games that are up and coming and we’re super excited to see them also pop up. It hasn’t been one game that isn’t basically dominating the market. I think the space is quite open and we’d love to see how it evolves over the next few months.

Tom (06:58):

It’s pretty cool. That’s a good segue. So let’s talk about the two products you have. Let’s first talk about LandWorks-

Zhivko (07:03):

Sure.

Tom (07:03):

… which is for renting marketplaces… Or sorry, renting land in the metaverse. it’s maintained by your community. Let’s dive into that. What exactly is LandWorks?

Zhivko (07:13):

Sure. So LandWorks is a landmark base that we are developing right now. Hoping it’s live in the next one to two. It’s essentially a protocol for renting and lending of LAND within metaverse games. It’s going to start out with the Decentraland because it’s currently the go-to game that is live and has LAND active. And we will integrate with other games as we go forward. But basically, the value prop of the marketplace is that if you want to use the games and build stuff in it, you can rent LAND short-term, use it for your event or whatever you want to do there, and then basically give it back. And vice versa, if you own LAND long-term, you don’t have to hold it and hope to flip it at some point for profit. You can actually have it go to work as an asset or earn you income as you go through these things.

Tom (08:10):

That’s pretty cool. So how do you envision the UI looking for those that own LAND? If I own, let’s say, a really valuable piece of LAND in Axie, and I want to lend that out, what does that look like? Do I just say, log onto EnterDAO and I set a rate and people bid or they buy out or…? How exactly does that work from the user perspective?

Zhivko (08:29):

Well, it’s a good question. Basically, you’re obviously loaning. You will be able to deposit your LAND and set both the price and the period that you would want to basically lend it for. There’ll be different periods, of course, but people are going to rent the LAND for a set period of time.

Tom (08:56):

That’s pretty cool. And I guess on the security side, if I have LAND that’s worth six figures or I’m virtual slumlord of some kind, obviously I want to earn a yield on my LAND, but I don’t want people to steal it, right? How does the security aspect come into play here where people want it to… They cryptographically want to lend out their land, but they obviously don’t want people to run away with it, but they need to be able to use that land to earn a yield or because they want to use it for other reasons? How does that all work?

Zhivko (09:25):

Well, it’s a good question. And I can answer it. It is quite simple, smart contracts, the [inaudible 00:09:32]. So basically, the contract will act as a mediator, obviously cold-cold. And when you rent it for a certain period of time and once this period is over, the owner will receive his piece of land automatically. So it’s quite simple.

Tom (09:52):

That’s pretty cool. So there’s no people can actually steal the LAND, if that makes sense.

Zhivko (09:57):

Hopefully not. I mean, we’re not envisioned it. So for it to work that way… And obviously, we’ll take all security measures and we have it audited multiple times and stuff, but it shouldn’t be possible. No.

Tom (10:11):

Do you think culturally, we’re at the stage where people, they’re understanding the Airbnb concept for the metaverse? Obviously, me and my buddies are planning a winter trip, right, and we’re just scouting Airbnb and VRVO for a place. We’re looking for a hot tub, we’re looking for a Sonic or something. But for this, culturally, do you think we’re at the stage where people are ready to use Airbnb for virtual? And it does seem kind of early, given a lot of these game economies aren’t fully built out yet, but obviously you want to build ahead of that.

Zhivko (10:42):

Yeah, so a great question. First of all, once we see that it’s… I don’t want to use the word B2B for renting, and also in our working environment. But we see that the people that are going to rent land are mostly going to be brands that are looking to build co-experiences in game. And what we’ve seen is that brands are ready to enter the metaverse with both feet. We’ve seen it both in the Web3 site and in the Web2 site as well. I think it was Snoop Dogg last week that announced they’re basically running metaverse concerts in sandbox and stuff like that. So we’d be seeing brands everywhere excited to jump into the metaverse, and we’re here to build infrastructure for it.

Tom (11:33):

That’s cool. So you actually see brands take more of a role than, say, individuals in the metaverse renting LAND out?

Zhivko (11:40):

On the renting side, yes. On the leasing, could be everyone. Obviously, I mean, it’s decentralized. Anyone can own LAND. And a lot of the existing LAND games is already owned by by users. It’s not institutions or brands. So on the renting side, I see mostly brands coming in, whether it’s Web3 brands or Web2 brands. But on the, basically, supply side of the marketplace where people provide LAND, I think it’s going to be mostly regular users that already own LAND.

Tom (12:18):

That’s pretty cool. I mean, walk me through that. Let’s say a large traditional brand buys, or sorry, rents land in the metaverse. Let’s say Axie just to keep this example easy. And I’m not sure what you’re able to do on that side, but what exactly would they provide? Would they provide an experience where people earn NFTS or what would that look like?

Zhivko (12:37):

Oh, it’s a great question. It could be anything. It could be base. It could be a concert. For example, Snoop Dogg could be running concerts. It could be a conference where people are giving talks. Or it could be, for example, another not too far-fetched example is a fashion show where people can actually buy the merch and use it for the characters in the metaverse as well as stuff like that. So it could be a whole bunch of different things.

Tom (13:08):

That’s pretty cool, man. It’s exciting. And how far out is this from becoming a reality? What stage is EnterDAO and LandWorks at right now?

Zhivko (13:18):

We’re developing a protocol as we speak. We hope that it’s going to be live late November. I think it’s a good timeline to aim at. We’re moving quite fast and we’re excited, but it’s definitely going to be out, I think, in two months, two months time.

Tom (13:39):

Jesus, you guys code fast. How long have you guys been working on this again?

Zhivko (13:45):

Around a month.

Tom (13:48):

Wow. Geez.

Zhivko (13:50):

Yeah, we obviously went DAO first because we wanted to go that route. So we have to, man. I’ve been super excited about everyone building and we’ve seen exponential growth in terms of builders in the retrospace, so we need to catch up.

Tom (14:08):

Yeah, no, I mean, a month sounds super fast. I mean, just to play devil’s advocate, what is the audit process look like when you’re working on such a short timeline, right? Obviously, it’s very complex contracts. You want to make sure security is there so people can’t steal LAND. How do you kind of thread the needle of being first but also making sure everything’s secure?

Zhivko (14:30):

Great question. We take security very seriously, so obviously, we’re not going to launch a marketplace unaudited by any means. We’re already talking with auditors so we can basically secure, because we obviously know that they’re also quite slammed, at least the top guys out there. So we’ve been planning for this ahead of time and we’re basically going to audit everything before we launch, so we’re good there.

Tom (14:59):

That’s pretty cool. No, it’s exciting. And it’s pretty cool on the value proposition side. I’m assuming you’re bringing a new level of capital efficiency to the metaverse, right? People can now buy LAND. And even if they’re not able to take a very active role in earning a yield off of that, you can lend it out to people who can. And I mean, it’s obviously, you could lend it out to people and they could earn… They could do whatever they want with it. However, they drive the highest yield. That allows the landowner to obviously set their price pretty high.

Zhivko (15:30):

Yep. It’s an exciting new market. And the thing it’s exciting and scary at the same time is that it’s a market that doesn’t exist yet, right, and we need to create it. And we’re basically going to see it shaping up before us, so excited to see how this develops.

Tom (15:52):

I’m with you. And can people come together and rent LAND together? Let’s say all the Delphi guys wanted to do a virtual retreat somewhere. Are we able to use entered out to kind of rent LAND as a group?

Zhivko (16:05):

It’s a good question. Probably not for the MVP as we want to be live as soon as possible, but we have a set of features in our V2 shaping up so we can have more scenarios playing out. But you can obviously play around with this. Let’s say you’re having a group wallet to do remote [inaudible 00:16:28]. So you just get together to run wallet and use it as you go.

Tom (16:34):

That’s pretty cool. And I mean, moving on from LandWorks, so you’re launching the service where anybody can rent out their LAND of the metaverse, pretty agnostic for a project. Will be out hopefully in November, killer timeline there. Moving on from there for a second, you guys are also launching MetaPortal, which is kind of a one-stop, steam style kind of view where anybody could find and enter various metaverse games. Give us the download on MetaPortal because that’s a bit different from LandWorks.

Zhivko (17:03):

It is, very different product. MetaPortal essentially is going to be a desktop client that enables users to access Web3 metaverse games from a single point. And basically, the problem that we’re trying to solve there or our thesis behind it is that games right now are quite fragmented. Some use different wallets, some web, some are desktop, and it’s kind of hard to keep track of everything. I mean, Web3 UX is hard enough as it is right now with all the wallets and transaction fees and stuff like that. We want to make everything as simple as possible for users, just having a single point of entry to metaverse games so they don’t have to worry about all of that.

Tom (17:57):

That’s pretty cool. And I mean, going back to my UI question, what does this look like? What’s the experience when somebody pulls up… Are they pulling up a webpage or are they pulling up an app or…?

Zhivko (18:08):

They’re pulling up a desktop client, which is also quite exciting from a tech point because we are going to be building a tested app, which is quite different from my coded Web3 apps we’ve seen. But you basically download the desktop app. You want to connect with whatever wallet you’re using and you start playing games to choose. Let’s say, for example, you want to play Axie or you want to play Illuvium when it comes out. You all do so from a single app.

Tom (18:42):

That’s pretty cool. So Steam is probably the best example, right, the best copier or…

Zhivko (18:47):

Yep, definitely.

Tom (18:48):

That that’s really awesome. And do you need permission from these games? I’m assuming not, given just the permission-less nature of where we’re at.

Zhivko (18:58):

For some of Dells, you need, or some of them would be a permissionless, but we’re working to also partner up with the game so we provide the best possible experience. And another element from a UI point, for example, is let’s say that basically, if you want to use Decentraland with the Delphi gang, for example, you can have a meeting point in Decentraland and you can all jump into a single point from MetaPortal and go be there, so that’s quite cool. Let’s say you can send an invite to somebody at Delphi to meet you at some point in the Decentraland. You can all go there and have fun.

Tom (19:40):

That’s really cool. That’s super interesting. And this client will be obviously for Mac, Windows, Linux, the whole…

Zhivko (19:47):

Yep.

Tom (19:48):

That’s really cool. So it is pretty cool to think about it. I don’t know, is there any other comparable right now? Is there any other site or application I can go to have access to every metaverse game right now, or…?

Zhivko (20:00):

No. I mean, we’ve done our fair share of research, but we haven’t seen anything like that. I think the closest comparison that we can give, although it’s not a hundred percent relevant, is that you’ve had a bunch of dub browsers over time that allow you from a single app to basically access different apps. And I think MetaMask for mobile does it as well. So this is the closest comparison, but it’s not really the same because you’re not entering games. So nothing really quite like it that we’ve seen so far.

Tom (20:37):

Yeah, no, that’s super interesting. It’s pretty cool that you guys are iterating kind of so quickly, if that makes sense. I’m just wondering here, LandWorks and the Portal are pretty different, right? Is the goal of EnterDAO to kind of expand into any niche within kind of the metaverse land or gaming segment you guys see fit, or are these two things kind of the core values of EnterDAO right now?

Zhivko (21:01):

No, it’s a fascinating question. We see those as the two products that we started. Obviously we’re building this in a DAO first way and we already have a sizeable community. But EnterDAO is essentially going to go in the direction that the community decides. Those are the first two products that were lined up. We also have an NFT drop coming up, but we definitely see both products expanding in terms of features. And culturally, that become sustainable so it can continue to basically build infrastructure products for the metaverse.

Tom (21:43):

It’s pretty cool.

Zhivko (21:43):

So we’re by no means limiting ourselves to those two.

Tom (21:46):

No, no, you guys don’t seem limited at all, if that makes sense. When do you think we’ll get to a point… So you’re building two things pretty much ahead of, I guess, I’d say, viral usage within what you’re accessing? LandWorks is incredible, right? It’ll be much needed, but the metaverse isn’t completely there yet where we have LAND that’s usable and affordable and people have use cases to rent. On the other side, MetaPortal is incredible, but there aren’t a plethora of really engaging games yet, right? So you’re building to things well in advance of kind of what they’ll give access to? What’s your take there? How do you time that? How do you get okay with that as founders? And how do you get that jump off point, because you are building pretty much not in the dark, but definitely ahead of time?

Zhivko (22:36):

Great question. Definitely what you hear, I agree a hundred percent. I think we’re a bit early to everything, but the truth is that these games are building in parallel and they’re going to be coming in with full force. Sandbox and Illuvium basically are going to make a big splash in the next few months. So the space will definitely grow exponentially and we want to be ready when these games start picking up speed, because I’m not sure we could basically have the perfect timing. Nobody really ever has, but I think it’s the right moment and the gaming space will grow exponentially for sure. I mean, I can count at least five games that are going to coming the next couple of months in addition to Decentraland and all the others. And I see those having quite substantial communities already, so it’s quite exciting.

Tom (23:37):

No, I’m totally with you. It is super exciting. And you mentioned that you guys went DAO first. You guys have done a really incredible job in growing your social community, right? I guess between your relationships within universe… And I met you guys through Tyler Wohr and you’re out here on Twitter and you have a really good following and a lot of good interplay with other projects as well and other founders like Erin at ASM and all of those guys, how did you guys decide to go DAO first, and how did that help you guys?

Zhivko (24:08):

Great question. I’m glad that you ask it. So we’ve seen the DAO first model play really well over the last year or so with different projects. [inaudible 00:24:20] is the universe, but I think basically, the meaning behind DAO first is actually community first. So it enables the project or its community to have its [inaudible 00:24:39] and basically be quite active on [inaudible 00:24:42], even before the products are out there. And basically, the community helps us on databases and helps us through the whole building process with feedback activity, having a community where you own is amazing. And on the flip side, while the products already, you have a community that is quite active and they want to use the products. So it’s a beautiful process to build in that way. We’ve seen it quite successfully. We’re also getting valuable feedback from veterans in the industry that are also pushing the DAO first approach. And I think it’s the right way, basically, to build right now.

Tom (25:27):

Yeah, no, I’m with you. I mean, you’ve attracted a pretty killer list on your early seed community. Your early investors is crazy. You have everyone from Mark Yusko to Troy to Santiago on here. We’re happy to be investors. It’s great that you guys got such a power group around you early on.

Zhivko (25:44):

Oh, for sure. And the beautiful thing is that everyone is contributing with feedback and connections and everything. So although we have a core team attend to now, it feels that it’s not 10 of us building. It’s actually 50 people or a hundred people building if we include some core people from Discord. So it’s amazing seeing this shape up.

Tom (26:10):

Yeah, no, I think it’s incredible that you guys went DAO first. It just seems just seems so slow to go through the process of the traditional way to raise money and start a company. I feel like it puts you months behind. There’s no way you guys will be able to keep this schedule. I guess you could if you went the traditional route, but it would definitely put you back a couple of months, for sure.

Zhivko (26:31):

For sure, yeah. I definitely agree. There’s pros and cons to this. It definitely allows you to go faster in the beginning. And I think the biggest value add is that it exponentially speeds up the process of building a community rather than shipping product first and basically then trying to progressively decentralize. I think the DAO first approach is actually a win-win for both the community and then the farmers.

Tom (27:04):

Yeah, no, it definitely is. It’s pretty cool that for your yield farming campaign, you added in pretty much all of the communities that you want to support through both of your LandWorks and your Portal, right? You have Axie, you have Decentraland, and you have Sandbox, Illuvium, Universe, a bunch of others like that. That had to have been a pretty conscious decision, I’m guessing.

Zhivko (27:22):

Oh, for sure. Yield farming is basically a community incentive that we see and we definitely want to onboard the existing communities and align with them. So it was a no brainer and we took this decision quite fast.

Tom (27:41):

That’s fair. One devil’s advocate question for you. I mean, you’re building out a set of pretty complex smart contracts to allow people to rent LAND but to not steal it. And this is something every game is going to want for their community. What’s the risk here that someone in the Axie community forks your code or copies it and gives it out for the Axie community to use? How do you, I guess, fight against that and build your moat, but also kind of embrace it? It seems like a kind of a hard path to walk.

Zhivko (28:14):

It’s a great question. I have a better answer to it. There’s a great article by Delphi Digital called the… I think it was called the Unforkable Moats of DeFi?

Tom (28:25):

Pretty sure that’s my partner’s essay, yep.

Zhivko (28:27):

Yep. I love it and I preach this and I live by this. So they obviously can afford a moat, but it’s hard to fork and maintain a community. And this is basically what we’re trying to build, both in terms of the community that uses our products, but also community of projects that we align with. So we’re hoping, through the community, through the [inaudible 00:28:57], to basically… We see those as our moats and we don’t worry too much about people forking outside. Yeah.

Tom (29:08):

I mean, as time goes on, let’s say you guys become the largest provider of LAND services, right? We’ll just say Airbnb to keep it easy. Don’t sue us there, Airbnb. It does afford you guys a pretty powerful community in moat though, right? You guys will have the resources to build this out, whether it be in the UI or the security side. It seems like, well, that’s interesting. But on the flip side, though, I mean, the amount of users that you can have and the reputation for those looking to lend out their LAND, that seems like a pretty large moat. I would never to, say, Airbnb version 10 to rent a piece of LAND. I want the guarantees that Airbnb has. I want the UI, I want the reviews, I want the reputation. It seems like that’s a pretty large moat for you guys.

Zhivko (29:53):

For sure, yep. Nail in the coffin,

Tom (29:57):

What do you think about the reputation identity side? If I rent out a bunch of land, is there a way to give my address, like reviews or a rating of some kind, or…? Yeah.

Zhivko (30:10):

This is our set of features for V2, but we definitely seize a critical part of the platform, and we want the platform to have reputation in a decentralized manner as well. It’s definitely going to be on chain, whether is it true to transactions or just to signing messages, but it’s going to be on chain, and I think it’s going to be great for the space.

Tom (30:36):

It’s pretty cool. I mean, I’m just trying to think through this. When I go to Airbnb, I search by location geographically and I search by date and I search guests. For you guys, you’re kind of flipping that, right, because location will be the specific metaverse. And do dates matter as much? I mean, you’re not going to rent something for a weekend, right? You’re going to rent something for months or years to make sure you can earn a yield on that thing.

Zhivko (31:02):

Yep. So I think the date matters because obviously, brands are going to be looking to plan and promote events around those dates as well.

Tom (31:17):

Yeah. That’s fair. I guess I kind of meant it’s maybe better for longer-term experiences then shorter term.

Zhivko (31:22):

Yep. And something else which will come into play is we also opened up a new market and we will try to foster this community, but basically there’s going to be a market for people and companies whose services is to design in-game experiences. Let’s say you rent the LAND. Then you want to design and build something on top of it, whether it’s a concert stage and stuff like that. So we definitely need builders of those kinds as well.

Tom (31:56):

No, that’s interesting. It’s pretty cool. I mean, you could even share the experiences, I guess, on the internet portal. I know Airbnb shows like things to do, but it kind of sounds like you guys are Airbnb plus Groupon, right? Because people can not only rent LAND and provide experiences, but then you can showcase what those experiences are to people.

Zhivko (32:16):

For sure. This is basically our long-term vision.

Tom (32:20):

That’s pretty cool, man. There’s a lot to go into here, and you guys are only a month into coding so far. It’s crazy how much has been done.

Zhivko (32:28):

I think you’re appreciated. And we’ve been moving quite fast, but we also have a mountain ahead of us, so we can’t stop building, not trying to get too far ahead of ourselves. So one line of code at a time.

Tom (32:43):

I’m with you. And I mean, you guys have built a lot of projects in the past, right? You guys at LimeChain, you guys are an incredible crew. I know George… kind of seen him kind of work a bit on live. You guys have done a lot, right? Everything from the current project you’re on, you guys sell polymorphs in Universe and a bunch of others, like a barn bridge and proof systems and stuff like that. What were your greatest learnings launching these projects, because they’re very community first, they’re very DAO-focused first. What was the biggest learnings you guys went through when you were building these projects as well?

Zhivko (33:19):

Great question. Basically, the number one learning that we have is that you want a community first. DAO first means community first. And I tweeted this the other day, but the value of a DAO is measured by its community, and not exactly it’s token price always. So we definitely try our best to get feedback from the community, build a community, and just provide value for them day in and day out. And I think this is the biggest learning that we took. Community first, but don’t compromise or lack of security as well. So you want to build fast, build the community, but provide also a sense of security for them as well.

Tom (34:15):

No, that’s fair. And I mean, switching to the token a bit, the Enter token, you could already start yield farming. I think you guys forked the governance contracts from farm bridge, which has been audited. What exactly does the token do for the inner DAO community?

Zhivko (34:32):

Enter is currently purely a governance token. It will allow us that DAO is activated through staking, basically to allow the community to cover in the direction of the DAO and the direction of both products, not restarting outward. And also obviously, the treasure itself and the grants programs that are coming up, this is a purely a governance token for now. But obviously this could change over time as the community matures and [inaudible 00:35:09].

Tom (35:08):

It’s pretty cool. Yeah. I’m wondering if there’s anything we missed. I feel like we covered LandWorks. I feel like we covered your Portal. We kind of covered the growth. Is there anything we missed that you’d like to hit on before we go?

Zhivko (35:20):

I think it’s been a fun chat. I want to share because I’m super excited just like you are. I’m sure you feel the same way, but it’s been amazing how the space has grown over the past year in terms of people building. And I just felt like I wanted to share that I haven’t been so excited about building with all these gigabrains out there in a long time. So it feels amazing right now.

Tom (35:44):

No, I totally agree with you. I mean, I’m sure you guys have seen just a pouring in of interest to help you guys build. Is there anyone you’re looking for from the community that you’d like to join you guys help build EnterDAO? Maybe they’re developers, maybe they’re community managers, maybe they’re graphic designers. Anyone on that side that you think you’re looking for right now?

Zhivko (36:04):

We are open to anyone to join our Discord and provide value. We love to hire people from the community. We already did it once or twice. I think something which the metaverse space will be needing hardcore, including us, would be people designing in-game experiences like building the stage and stuff like that. So if anyone is quite active in this, please hit us up.

Tom (36:32):

That’s pretty cool. Yeah. And I mean, even for the brands themselves, I’m sure they’re going to want kind of some type of consulting partner to provide those experiences for them.

Zhivko (36:42):

For sure.

Tom (36:43):

Z, it’s been awesome to kind of talk through EnterDAO. It’s crazy how much you guys have built in such a short amount of time. I mean, I know nothing’s live yet, so I won’t overstate it, but you guys have done a lot in a month, and congrats to you and the team.

Zhivko (36:57):

No, I appreciate it, and thanks for being with us through the wreck. And thanks for having us.

Show Notes: 

(00:00:00) – Introduction.

(00:00:40) – Zhivko’s background.

(00:02:00) – The problem EnterDAO is solving. 

(00:05:32) – What users are getting when they buy metaverse land. 

(00:07:00) – Introduction to LandWorks.  

(00:08:13) – What the LandWorks experience looks like. 

(00:08:58) – The security of LandWorks. 

(00:10:12) – Zhivko’s thoughts on whether people are ready for metaverse land renting.

(00:13:11) – The LandWorks timeline.

(00:14:10) – Balancing speed and security when building. 

(00:15:03) – The market for LandWorks. 

(00:15:53) – The possibility of group land rentals. 

(00:16:37) – Introduction to MetaPortal. 

(00:18:00) – What the MetaPortal experience looks like. 

(00:19:52) – MetaPortal competitors. 

(00:20:46) – The direction of EnterDAO.

(00:23:41) – The decision to go DAO-first and its benefits.  

(00:27:44) – The risks of code forks. 

(00:29:59) – Drawing parallels between LandWorks and Airbnb.

(00:32:46) – Biggest lessons from LimeChain days.

(00:34:19) – $ENTR token. 

(00:35:54) – EnterDAO’s call for community members.