MetaLettersDAO: A Look At Open Source Branding

The MetaLettersDAO is a network based on the Ethereum blockchain that lets people purchase and use custom brandable letters for free. These letter have inherent value, relying on scarcity as well as their utility in digital advertising. In this article we discuss how open source branding could be an alternative option to traditional trademarking or copyrighting of intellectual property.

The “the open source definition” is a term that has been used in the past to describe software that is available for anyone to use, share and modify. The idea of open source software was first introduced by Richard Stallman in 1983.

Branding and Web3 might seem arcane in the sense that only a tiny set of people knows how to use them to establish and grow projects. While both are focused on forming and engaging communities, some may argue that Web3 has a higher chance of being completely comprehended.

A brand is an ethereal depiction of a company’s purpose, culture, and community. A brand may be expressed via sounds, people, and events, but visual identity is one of the most visible. A new initiative has developed in the genuine spirit of Web3, with its dedication to decentralization at its core.

Metaversal & Web3 Innovation

Metaversal is a holding corporation that co-creates, curates, and invests in famous NFT initiatives as well as the metaverse’s essential technologies. They work with artists and companies to bring their ideas to life in Web3 as a venture studio and investment organization.

Metaversal began their adventure by purchasing Noun#9 from NounsDAO, and they were also one of ConstitutionDAO’s greatest public donors. They were certainly aware of DAOs. Metaversal has unveiled MetaLetters DAO, which is based on the company’s objective to encourage artists from all walks of life all around the globe.

The program intends to provide new artists with a path into the metaverse while also incorporating inclusiveness and diversity into the fabric of a rapidly growing Web3. “We’re building a fully decentralized approach for our community to determine what Metaversal’s brand should look like, which will symbolize the metaverse’s growing culture — all with the goal of showcasing and supporting new artists and creators,” said Yossi Hasson, Metaversal’s CEO and co-founder. “At Metaversal, elevating and empowering the creative community has always been central to our objective.”

The DAO for MetaLetters

Unlike most conventional companies, Metaversal is using the co-creative principles of Web3 to establish its visual identity in a private context and applying stringent control to its usage. Metaversal’s branding has been open-sourced under a Creative Commons CC0 license, allowing the Metaversal community to assist create the brand.

They launched an open call for artistic interpretations of the individual letters M-E-T-A-V-E-R-S-A-L where artists could submit their version of one or more letters for community vote on Twitter. The voting period closes on February 7th when the artist with the most votes will have their letter auctioned as the first NFT in The DAO for MetaLetters offering.

The project is unusual in that both the artist and the owner of the NFT are members of the DAO. They may then propose and vote on suggestions to choose which artists and projects to support in the future. For the next 1,818 days, the team aims to auction one letter NFT every day.

Each artist receives 30% of the proceeds with the remaining amount going to The DAO for MetaLetters Treasury. The visual identity project will come to life by incorporating the individual letters into a series of evolving interpretations of the Metaversal logo similar to Google’s homepage Doodle that changes to commemorate holidays and events.

Web3 & the Potential for Creators & Fans

In music and art, the Web3 trend of bringing artists and fans closer together is thriving, and Metaversal provides a comparable level of hyper-connectivity between creators and companies. The result of this first trial is a win-win situation in which the artist gets compensated for their labor, the brand proves its support to artists, and the initiative continues to finance further artist-centric missions. Could we see other companies adopting a similar strategy?

 

The “open-source” is a term that has been used to describe software which is both free and open for public use. This article will look at the branding of the MetaLettersDAO. Reference: open source or open-source.

Related Tags

  • open source technology
  • types of open source software
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  • open source platform

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