View profile

Creators + DAOs = Unstoppable

Richard Patey
Richard Patey
Looking to get into crypto? You can either contribute to the DAOs mentioned in this newsletter, or check out the leading job board for blockchain jobs

I feel like I’ve been having an identity crisis since my last email a month ago.
After selling a paid substack publication last year and transitioning it into a paid community, my thought process was to build something else up and exit again.
This is the playbook I’ve done a few times now:
1) Start under my own name / personal brand
2) Transition into its own brand
3) Scale the business
4) Exit the business.
Indeed, it’s what I was doing with this newsletter.
It started out as ‘Richard Patey’s weekly newsletter’ and then, after realising my interests were moving the newsletter down a crypto x creator rabbit hole, I picked up the domain and switched to that.
Then, because I know that community is the most defensible media model in terms of copy cats (who make it a race to the bottom), I had set up and started promoting a discord community.
This all changed as I went further into tokenized communities and DAOs and realised that I was operating with an ego-driven web2 mindset.
Setting up my own crypto newsletter, podcast and community is a -EV move in 2021 vs contributing to existing media DAOs such as Bankless and Forefront.
The collective, hive-mind coupled with its own micro-economy will simply out-compete 99% of individual creators.
The Forefront newsletter, for example, is simply the best resource on the social token / DAO landscape. You would be losing value by competing with it vs owning the $FF token and contributing to it.
Likewise, I had on my to-do list to launch my own social token podcast. This would be another -EV move now that Bankless and Seedclub (a DAO to DAO partnership) are proposing to create the best content out there.
And I now see that building my own community would also be a dumb move, even if I was planning on tokenizing it:
Inspired by the latest On The Other Side podcast by @chaserchapman talking with @jacksondame I'm going to mint and give away 150 NFTs to people that have helped me most in business / crypto / life to use as access to a discord community using @Collab_Land_
My existing Discord server is now renamed Crypto Communities (just like the laid to rest web2 facebook group of the same name), has a cute noun generated profile pic and will remain a small, inclusive group - feel free to hang.
As David states in the tweet below, any insights I have are more valuable shared across multiple communities than in my own.
David Phelps 🥳
web2: insights of individual workers are siloed to a single company
web3: insights of individual workers are shared across multiple communities

DAOs let us open-sourced ourselves as workers. This is why web3 will win.
The Gary Vee Web 2.0 approach (video I’ve watched countless times over the last decade) is being replaced by web3. Gary recognizes that we are at the start of something revolutionary in his conversation with Kevin Rose on Modern Finance.
No more brands from me, just your good old Brit friend Patey(.eth).
My emails will be about how I’m contributing to DAOs and the future of work.
It’s only a matter of time before a community DAO achieves a market cap of over $1bn and gets to page 1 on Coin Gecko.
Did you enjoy this issue? Yes No
Richard Patey
Richard Patey @richardpatey

Tokenized communities are the future of work, investing and play

In order to unsubscribe, click here.
If you were forwarded this newsletter and you like it, you can subscribe here.
Created with Revue by Twitter.
Evolution House Iceni Court, Delft Way, Norwich NR6 6BB, UK