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Abhimanyu Bhargava

Abhimanyu Bhargava

3 years ago

VeeFriends Series 2: The Biggest NFT Opportunity Ever

More on NFTs & Art

Boris Müller

Boris Müller

2 years ago

Why Do Websites Have the Same Design?

My kids redesigned the internet because it lacks inventiveness.

Internet today is bland. Everything is generic: fonts, layouts, pages, and visual language. Microtypography is messy.

Web design today seems dictated by technical and ideological constraints rather than creativity and ideas. Text and graphics are in containers on every page. All design is assumed.

Ironically, web technologies can design a lot. We can execute most designs. We make shocking, evocative websites. Experimental typography, generating graphics, and interactive experiences are possible.

Even designer websites use containers in containers. Dribbble and Behance, the two most popular creative websites, are boring. Lead image.

Dribbble versus Behance. Can you spot the difference? Thanks to David Rehman for pointing this out to me. All screenshots: Boris Müller

How did this happen?

Several reasons. WordPress and other blogging platforms use templates. These frameworks build web pages by combining graphics, headlines, body content, and videos. Not designs, templates. These rules combine related data types. These platforms don't let users customize pages beyond the template. You filled the template.

Templates are content-neutral. Thus, the issue.

Form should reflect and shape content, which is a design principle. Separating them produces content containers. Templates have no design value.

One of the fundamental principles of design is a deep and meaningful connection between form and content.

Web design lacks imagination for many reasons. Most are pragmatic and economic. Page design takes time. Large websites lack the resources to create a page from scratch due to the speed of internet news and the frequency of new items. HTML, JavaScript, and CSS continue to challenge web designers. Web design can't match desktop publishing's straightforward operations.

Designers may also be lazy. Mobile-first, generic, framework-driven development tends to ignore web page visual and contextual integrity.

How can we overcome this? How might expressive and avant-garde websites look today?

Rediscovering the past helps design the future.

'90s-era web design

At the University of the Arts Bremen's research and development group, I created my first website 23 years ago. Web design was trendy. Young web. Pages inspired me.

We struggled with HTML in the mid-1990s. Arial, Times, and Verdana were the only web-safe fonts. Anything exciting required table layouts, monospaced fonts, or GIFs. HTML was originally content-driven, thus we had to work against it to create a page.

Experimental typography was booming. Designers challenged the established quo from Jan Tschichold's Die Neue Typographie in the twenties to April Greiman's computer-driven layouts in the eighties. By the mid-1990s, an uncommon confluence of technological and cultural breakthroughs enabled radical graphic design. Irma Boom, David Carson, Paula Scher, Neville Brody, and others showed it.

Early web pages were dull compared to graphic design's aesthetic explosion. The Web Design Museum shows this.

Nobody knew how to conduct browser-based graphic design. Web page design was undefined. No standards. No CMS (nearly), CSS, JS, video, animation.

Now is as good a time as any to challenge the internet’s visual conformity.

In 2018, everything is browser-based. Massive layouts to micro-typography, animation, and video. How do we use these great possibilities? Containerized containers. JavaScript-contaminated mobile-first pages. Visually uniform templates. Web design 23 years later would disappoint my younger self.

Our imagination, not technology, restricts web design. We're too conformist to aesthetics, economics, and expectations.

Crisis generates opportunity. Challenge online visual conformity now. I'm too old and bourgeois to develop a radical, experimental, and cutting-edge website. I can ask my students.

I taught web design at the Potsdam Interface Design Programme in 2017. Each team has to redesign a website. Create expressive, inventive visual experiences on the browser. Create with contemporary web technologies. Avoid usability, readability, and flexibility concerns. Act. Ignore Erwartungskonformität.

The class outcome pleased me. This overview page shows all results. Four diverse projects address the challenge.

1. ZKM by Frederic Haase and Jonas Köpfer

ZKM’s redesign

Frederic and Jonas began their experiments on the ZKM website. The ZKM is Germany's leading media art exhibition location, but its website remains conventional. It's useful but not avant-garde like the shows' art.

Frederic and Jonas designed the ZKM site's concept, aesthetic language, and technical configuration to reflect the museum's progressive approach. A generative design engine generates new layouts for each page load.

ZKM redesign.

2. Streem by Daria Thies, Bela Kurek, and Lucas Vogel

Streem’s redesign

Street art magazine Streem. It promotes new artists and societal topics. Streem includes artwork, painting, photography, design, writing, and journalism. Daria, Bela, and Lucas used these influences to develop a conceptual metropolis. They designed four neighborhoods to reflect magazine sections for their prototype. For a legible city, they use powerful illustrative styles and spatial typography.

Streem makeover.

3. Medium by Amelie Kirchmeyer and Fabian Schultz

Medium’s redesign

Amelie and Fabian structured. Instead of developing a form for a tale, they dissolved a web page into semantic, syntactical, and statistical aspects. HTML's flexibility was their goal. They broke Medium posts into experimental typographic space.

Medium revamp.

4. Hacker News by Fabian Dinklage and Florian Zia

Hacker News redesign

Florian and Fabian made Hacker News interactive. The social networking site aggregates computer science and IT news. Its voting and debate features are extensive despite its simple style. Fabian and Florian transformed the structure into a typographic timeline and network area. News and comments sequence and connect the visuals. To read Hacker News, they connected their design to the API. Hacker News makeover.

Communication is not legibility, said Carson. Apply this to web design today. Modern websites must be legible, usable, responsive, and accessible. They shouldn't limit its visual palette. Visual and human-centered design are not stereotypes.

I want radical, generative, evocative, insightful, adequate, content-specific, and intelligent site design. I want to rediscover web design experimentation. More surprises please. I hope the web will appear different in 23 years.

Update: this essay has sparked a lively discussion! I wrote a brief response to the debate's most common points: Creativity vs. Usability

Sea Launch

Sea Launch

3 years ago

A guide to NFT pre-sales and whitelists

Before we dig through NFT whitelists and pre-sales, if you know absolutely nothing about NFTs, check our NFT Glossary.

What are pre-sales and whitelists on NFTs?

An NFT pre-sale, as the name implies, allows community members or early supporters of an NFT project to mint before the public, usually via a whitelist or mint pass.

Coin collectors can use mint passes to claim NFTs during the public sale. Because the mint pass is executed by “burning” an NFT into a specific crypto wallet, the collector is not concerned about gas price spikes.

A whitelist is used to approve a crypto wallet address for an NFT pre-sale. In a similar way to an early access list, it guarantees a certain number of crypto wallets can mint one (or more) NFT.

New NFT projects can do a pre-sale without a whitelist, but whitelists are good practice to avoid gas wars and a fair shot at minting an NFT before launching in competitive NFT marketplaces like Opensea, Magic Eden, or CNFT.

Should NFT projects do pre-sales or whitelists? 👇

The reasons to do pre-sales or a whitelist for NFT creators:

Time the market and gain traction.

Pre-sale or whitelists can help NFT projects gauge interest early on.

Whitelist spots filling up quickly is usually a sign of a successful launch, though it does not guarantee NFT longevity (more on that later). Also, full whitelists create FOMO and momentum for the public sale among non-whitelisted NFT collectors.

If whitelist signups are low or slow, projects may need to work on their vision, community, or product. Or the market is in a bear cycle. In either case, it aids NFT projects in market timing.

Reward the early NFT Community members.

Pre-sale and whitelists can help NFT creators reward early supporters.

First, by splitting the minting process into two phases, early adopters get a chance to mint one or more NFTs from their collection at a discounted or even free price.

Did you know that BAYC started at 0.08 eth each? A serum that allowed you to mint a Mutant Ape has become as valuable as the original BAYC.

(2) Whitelists encourage early supporters to help build a project's community in exchange for a slot or status. If you invite 10 people to the NFT Discord community, you get a better ranking or even a whitelist spot.

Pre-sale and whitelisting have become popular ways for new projects to grow their communities and secure future buyers.

Prevent gas wars.

Most new NFTs are created on the Ethereum blockchain, which has the highest transaction fees (also known as gas) (Solana, Cardano, Polygon, Binance Smart Chain, etc).

An NFT public sale is a gas war when a large number of NFT collectors (or bots) try to mint an NFT at the same time.

Competing collectors are willing to pay higher gas fees to prioritize their transaction and out-price others when upcoming NFT projects are hyped and very popular.

Pre-sales and whitelisting prevent gas wars by breaking the minting process into smaller batches of members or season launches.

The reasons to do pre-sales or a whitelists for NFT collectors:

How do I get on an NFT whitelist?

  1. Popular NFT collections act as a launchpad for other new or hyped NFT collections.

Example: Interfaces NFTs gives out 100 whitelist spots to Deadfellaz NFTs holders. Both NFT projects win. Interfaces benefit from Deadfellaz's success and brand equity.

In this case, to get whitelisted NFT collectors need to hold that specific NFT that is acting like a launchpad.

  1. A NFT studio or collection that launches a new NFT project and rewards previous NFT holders with whitelist spots or pre-sale access.

The whitelist requires previous NFT holders or community members.

NFT Alpha Groups are closed, small, tight-knit Discord servers where members share whitelist spots or giveaways from upcoming NFTs.

The benefit of being in an alpha group is getting information about new NFTs first and getting in on pre-sale/whitelist before everyone else.

There are some entry barriers to alpha groups, but if you're active in the NFT community, you'll eventually bump into, be invited to, or form one.

  1. A whitelist spot is awarded to members of an NFT community who are the most active and engaged.

This participation reward is the most democratic. To get a chance, collectors must work hard and play to their strengths.

Whitelisting participation examples:

  • Raffle, games and contest: NFT Community raffles, games, and contests. To get a whitelist spot, invite 10 people to X NFT Discord community.
  • Fan art: To reward those who add value and grow the community by whitelisting the best fan art and/or artists is only natural.
  • Giveaways: Lucky number crypto wallet giveaways promoted by an NFT community. To grow their communities and for lucky collectors, NFT projects often offer free NFT.
  • Activate your voice in the NFT Discord Community. Use voice channels to get NFT teams' attention and possibly get whitelisted.

The advantage of whitelists or NFT pre-sales.

Chainalysis's NFT stats quote is the best answer:

“Whitelisting isn’t just some nominal reward — it translates to dramatically better investing results. OpenSea data shows that users who make the whitelist and later sell their newly-minted NFT gain a profit 75.7% of the time, versus just 20.8% for users who do so without being whitelisted. Not only that, but the data suggests it’s nearly impossible to achieve outsized returns on minting purchases without being whitelisted.” Full report here.

Sure, it's not all about cash. However, any NFT collector should feel secure in their investment by owning a piece of a valuable and thriving NFT project. These stats help collectors understand that getting in early on an NFT project (via whitelist or pre-sale) will yield a better and larger return.

The downsides of pre-sales & whitelists for NFT creators.

Pre-sales and whitelist can cause issues for NFT creators and collectors.

NFT flippers

NFT collectors who only want to profit from early minting (pre-sale) or low mint cost (via whitelist). To sell the NFT in a secondary market like Opensea or Solanart, flippers go after the discounted price.

For example, a 1000 Solana NFT collection allows 100 people to mint 1 Solana NFT at 0.25 SOL. The public sale price for the remaining 900 NFTs is 1 SOL. If an NFT collector sells their discounted NFT for 0.5 SOL, the secondary market floor price is below the public mint.

This may deter potential NFT collectors. Furthermore, without a cap in the pre-sale minting phase, flippers can get as many NFTs as possible to sell for a profit, dumping them in secondary markets and driving down the floor price.

Hijacking NFT sites, communities, and pre-sales phase

People try to scam the NFT team and their community by creating oddly similar but fake websites, whitelist links, or NFT's Discord channel.

Established and new NFT projects must be vigilant to always make sure their communities know which are the official links, how a whitelist or pre-sale rules and how the team will contact (or not) community members.

Another way to avoid the scams around the pre-sale phase, NFT projects opt to create a separate mint contract for the whitelisted crypto wallets and then another for the public sale phase.

Scam NFT projects

We've seen a lot of mid-mint or post-launch rug pulls, indicating that some bad NFT projects are trying to scam NFT communities and marketplaces for quick profit. What happened to Magic Eden's launchpad recently will help you understand the scam.

We discussed the benefits and drawbacks of NFT pre-sales and whitelists for both projects and collectors. 

Finally, some practical tools and tips for finding new NFTs 👇

Tools & resources to find new NFT on pre-sale or to get on a whitelist:

In order to never miss an update, important pre-sale dates, or a giveaway, create a Tweetdeck or Tweeten Twitter dashboard with hyped NFT project pages, hashtags ( #NFTGiveaways , #NFTCommunity), or big NFT influencers.

Search for upcoming NFT launches that have been vetted by the marketplace and try to get whitelisted before the public launch.

Save-timing discovery platforms like sealaunch.xyz for NFT pre-sales and upcoming launches. How can we help 100x NFT collectors get projects? A project's official social media links, description, pre-sale or public sale dates, price and supply. We're also working with Dune on NFT data analysis to help NFT collectors make better decisions.

Don't invest what you can't afford to lose because a) the project may fail or become rugged. Find NFTs projects that you want to be a part of and support.

Read original post here

Protos

Protos

3 years ago

Plagiarism on OpenSea: humans and computers

OpenSea, a non-fungible token (NFT) marketplace, is fighting plagiarism. A new “two-pronged” approach will aim to root out and remove copies of authentic NFTs and changes to its blue tick verified badge system will seek to enhance customer confidence.

According to a blog post, the anti-plagiarism system will use algorithmic detection of “copymints” with human reviewers to keep it in check.

Last year, NFT collectors were duped into buying flipped images of the popular BAYC collection, according to The Verge. The largest NFT marketplace had to remove its delay pay minting service due to an influx of copymints.

80% of NFTs removed by the platform were minted using its lazy minting service, which kept the digital asset off-chain until the first purchase.

NFTs copied from popular collections are opportunistic money-grabs. Right-click, save, and mint the jacked JPEGs that are then flogged as an authentic NFT.

The anti-plagiarism system will scour OpenSea's collections for flipped and rotated images, as well as other undescribed permutations. The lack of detail here may be a deterrent to scammers, or it may reflect the new system's current rudimentary nature.

Thus, human detectors will be needed to verify images flagged by the detection system and help train it to work independently.

“Our long-term goal with this system is two-fold: first, to eliminate all existing copymints on OpenSea, and second, to help prevent new copymints from appearing,” it said.

“We've already started delisting identified copymint collections, and we'll continue to do so over the coming weeks.”

It works for Twitter, why not OpenSea

OpenSea is also changing account verification. Early adopters will be invited to apply for verification if their NFT stack is worth $100 or more. OpenSea plans to give the blue checkmark to people who are active on Twitter and Discord.

This is just the beginning. We are committed to a future where authentic creators can be verified, keeping scammers out.

Also, collections with a lot of hype and sales will get a blue checkmark. For example, a new NFT collection sold by the verified BAYC account will have a blue badge to verify its legitimacy.

New requests will be responded to within seven days, according to OpenSea.

These programs and products help protect creators and collectors while ensuring our community can confidently navigate the world of NFTs.

By elevating authentic content and removing plagiarism, these changes improve trust in the NFT ecosystem, according to OpenSea.

OpenSea is indeed catching up with the digital art economy. Last August, DevianArt upgraded its AI image recognition system to find stolen tokenized art on marketplaces like OpenSea.

It scans all uploaded art and compares it to “public blockchain events” like Ethereum NFTs to detect stolen art.

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Amelia Winger-Bearskin

Amelia Winger-Bearskin

3 years ago

Reasons Why AI-Generated Images Remind Me of Nightmares

AI images are like funhouse mirrors.

Google's AI Blog introduced the puppy-slug in the summer of 2015.

Vice / DeepDream

Puppy-slug isn't a single image or character. "Puppy-slug" refers to Google's DeepDream's unsettling psychedelia. This tool uses convolutional neural networks to train models to recognize dataset entities. If researchers feed the model millions of dog pictures, the network will learn to recognize a dog.

DeepDream used neural networks to analyze and classify image data as well as generate its own images. DeepDream's early examples were created by training a convolutional network on dog images and asking it to add "dog-ness" to other images. The models analyzed images to find dog-like pixels and modified surrounding pixels to highlight them.

Puppy-slugs and other DeepDream images are ugly. Even when they don't trigger my trypophobia, they give me vertigo when my mind tries to reconcile familiar features and forms in unnatural, physically impossible arrangements. I feel like I've been poisoned by a forbidden mushroom or a noxious toad. I'm a Lovecraft character going mad from extradimensional exposure. They're gross!

Is this really how AIs see the world? This is possibly an even more unsettling topic that DeepDream raises than the blatant abjection of the images.

When these photographs originally circulated online, many friends were startled and scandalized. People imagined a computer's imagination would be literal, accurate, and boring. We didn't expect vivid hallucinations and organic-looking formations.

DeepDream's images didn't really show the machines' imaginations, at least not in the way that scared some people. DeepDream displays data visualizations. DeepDream reveals the "black box" of convolutional network training.

Some of these images look scary because the models don't "know" anything, at least not in the way we do.

These images are the result of advanced algorithms and calculators that compare pixel values. They can spot and reproduce trends from training data, but can't interpret it. If so, they'd know dogs have two eyes and one face per head. If machines can think creatively, they're keeping it quiet.

You could be forgiven for thinking otherwise, given OpenAI's Dall-impressive E's results. From a technological perspective, it's incredible.

Arthur C. Clarke once said, "Any sufficiently advanced technology is indistinguishable from magic." Dall-magic E's requires a lot of math, computer science, processing power, and research. OpenAI did a great job, and we should applaud them.

Dall-E and similar tools match words and phrases to image data to train generative models. Matching text to images requires sorting and defining the images. Untold millions of low-wage data entry workers, content creators optimizing images for SEO, and anyone who has used a Captcha to access a website make these decisions. These people could live and die without receiving credit for their work, even though the project wouldn't exist without them.

This technique produces images that are less like paintings and more like mirrors that reflect our own beliefs and ideals back at us, albeit via a very complex prism. Due to the limitations and biases that these models portray, we must exercise caution when viewing these images.

The issue was succinctly articulated by artist Mimi Onuoha in her piece "On Algorithmic Violence":

As we continue to see the rise of algorithms being used for civic, social, and cultural decision-making, it becomes that much more important that we name the reality that we are seeing. Not because it is exceptional, but because it is ubiquitous. Not because it creates new inequities, but because it has the power to cloak and amplify existing ones. Not because it is on the horizon, but because it is already here.

Tim Denning

Tim Denning

2 years ago

One of the biggest publishers in the world offered me a book deal, but I don't feel deserving of it.

Image Credit: Pixelstalk Creative Commons

My ego is so huge it won't fit through the door.

I don't know how I feel about it. I should be excited. Many of you have this exact dream to publish a book with a well-known book publisher and get a juicy advance.

Let me dissect how I'm thinking about it to help you.

How it happened

An email comes in. A generic "can we put a backlink on your website and get a freebie" email.

Almost deleted it.

Then I noticed the logo. It seemed shady. I found the URL. Check. I searched the employee's LinkedIn. Legit. I avoided middlemen. Check.

Mixed feelings. LinkedIn hasn't valued my writing for years. I'm just a guy in an unironed t-shirt whose content they sell advertising against.

They get big dollars. I get $0 and a few likes, plus some email subscribers.

Still, I felt adrenaline for hours.

I texted a few friends to see how they felt. I wrapped them.

Messages like "No shocker. You're entertaining online." I didn't like praises, so I blushed.

The thrill faded after hours. Who knows?

Most authors desire this chance.

"You entitled piece of crap, Denning!"

You may think so. Okay. My job is to stand on the internet and get bananas thrown at me.

I approached writing backwards. More important than a book deal was a social media audience converted to an email list.

Romantic authors think backward. They hope a fantastic book will land them a deal and an audience.

Rarely occurs. So I never pursued it. It's like permission-seeking or the lottery.

Not being a professional writer, I've never written a good book. I post online for fun and to express my opinions.

Writing is therapeutic. I overcome mental illness and rebuilt my life this way. Without blogging, I'd be dead.

I've always dreamed of staying alive and doing something I love, not getting a book contract. Writing is my passion. I'm a winner without a book deal.

Why I was given a book deal

You may assume I received a book contract because of my views or follows. Nope.

They gave me a deal because they like my writing style. I've heard this for eight years.

Several authors agree. One asked me to improve their writer's voice.

Takeaway: highlight your writer's voice.

What if they discover I'm writing incompetently?

An edited book is published. It's edited.

I need to master writing mechanics, thus this concerns me. I need help with commas and sentence construction.

I must learn verb, noun, and adjective. Seriously.

Writing a book may reveal my imposter status to a famous publisher. Imagine the email

"It happened again. He doesn't even know how to spell. He thinks 'less' is the correct word, not 'fewer.' Are you sure we should publish his book?"

Fears stink.

Photo by Nathalia Segato on Unsplash

I'm capable of blogging. Even listicles. So what?

Writing for a major publisher feels advanced.

I only blog. I'm good at listicles. Digital media executives have criticized me for this.

  • It is allegedly clickbait.

  • Or it is following trends.

  • Alternately, growth hacking.

Never. I learned copywriting to improve my writing.

Apple, Amazon, and Tesla utilize copywriting to woo customers. Whoever thinks otherwise is the wisest person in the room.

Old-schoolers loathe copywriters.

Their novels sell nothing.

They assume their elitist version of writing is better and that the TikTok generation will invest time in random writing with no subheadings and massive walls of text they can't read on their phones.

I'm terrified of book proposals.

My friend's book proposal suggestion was contradictory and made no sense.

They told him to compose another genre. This book got three Amazon reviews. Is that a good model?

The process disappointed him. I've heard other book proposal horror stories. Tim Ferriss' book "The 4-Hour Workweek" was criticized.

Because he has thick skin, his book came out. He wouldn't be known without that.

I hate book proposals.

An ongoing commitment

Writing a book is time-consuming.

I appreciate time most. I want to focus on my daughter for the next few years. I can't recreate her childhood because of a book.

No idea how parents balance kids' goals.

My silly face in a bookstore. Really?

Genuine thought.

I don't want my face in bookstores. I fear fame. I prefer anonymity.

I want to purchase a property in a bad Australian area, then piss off and play drums. Is bookselling worth it?

Are there even bookstores anymore?

(Except for Ryan Holiday's legendary Painted Porch Bookshop in Texas.)

What's most important about books

Many were duped.

Tweets and TikTok hopscotch vids are their future. Short-form content creates devoted audiences that buy newsletter subscriptions.

Books=depth.

Depth wins (if you can get people to buy your book). Creating a book will strengthen my reader relationships.

It's cheaper than my classes, so more people can benefit from my life lessons.

A deeper justification for writing a book

Mind wandered.

If I write this book, my daughter will follow it. "Look what you can do, love, when you ignore critics."

That's my favorite.

I'll be her best leader and teacher. If her dad can accomplish this, she can too.

My kid can read my book when I'm gone to remember her loving father.

Last paragraph made me cry.

The positive

This book thing might make me sound like Karen.

The upside is... Building in public, like I have with online writing, attracts the right people.

Proof-of-work over proposals, beautiful words, or huge aspirations. If you want a book deal, try writing online instead of the old manner.

Next steps

No idea.

I'm a rural Aussie. Writing a book in the big city is intimidating. Will I do it? Lots to think about. Right now, some level of reflection and gratitude feels most appropriate.

Sometimes when you don't feel worthy, it gives you the greatest lessons. That's how I feel about getting offered this book deal.

Perhaps you can relate.

Raad Ahmed

Raad Ahmed

3 years ago

How We Just Raised $6M At An $80M Valuation From 100+ Investors Using A Link (Without Pitching)

Lawtrades nearly failed three years ago.

We couldn't raise Series A or enthusiasm from VCs.

We raised $6M (at a $80M valuation) from 100 customers and investors using a link and no pitching.

Step-by-step:

We refocused our business first.

Lawtrades raised $3.7M while Atrium raised $75M. By comparison, we seemed unimportant.

We had to close the company or try something new.

As I've written previously, a pivot saved us. Our initial focus on SMBs attracted many unprofitable customers. SMBs needed one-off legal services, meaning low fees and high turnover.

Tech startups were different. Their General Councels (GCs) needed near-daily support, resulting in higher fees and lower churn than SMBs.

We stopped unprofitable customers and focused on power users. To avoid dilution, we borrowed against receivables. We scaled our revenue 10x, from $70k/mo to $700k/mo.

Then, we reconsidered fundraising (and do it differently)
This time was different. Lawtrades was cash flow positive for most of last year, so we could dictate our own terms. VCs were still wary of legaltech after Atrium's shutdown (though they were thinking about the space).

We neither wanted to rely on VCs nor dilute more than 10% equity. So we didn't compete for in-person pitch meetings.

AngelList Roll-Up Vehicle (RUV). Up to 250 accredited investors can invest in a single RUV. First, we emailed customers the RUV. Why? Because I wanted to help the platform's users.

Imagine if Uber or Airbnb let all drivers or Superhosts invest in an RUV. Humans make the platform, theirs and ours. Giving people a chance to invest increases their loyalty.

We expanded after initial interest.

We created a Journey link, containing everything that would normally go in an investor pitch:

  • Slides
  • Trailer (from me)
  • Testimonials
  • Product demo
  • Financials

We could also link to our AngelList RUV and send the pitch to an unlimited number of people. Instead of 1:1, we had 1:10,000 pitches-to-investors.

We posted Journey's link in RUV Alliance Discord. 600 accredited investors noticed it immediately. Within days, we raised $250,000 from customers-turned-investors.

Stonks, which live-streamed our pitch to thousands of viewers, was interested in our grassroots enthusiasm. We got $1.4M from people I've never met.

These updates on Pump generated more interest. Facebook, Uber, Netflix, and Robinhood executives all wanted to invest. Sahil Lavingia, who had rejected us, gave us $100k.

We closed the round with public support.

Without a single pitch meeting, we'd raised $2.3M. It was a result of natural enthusiasm: taking care of the people who made us who we are, letting them move first, and leveraging their enthusiasm with VCs, who were interested.

We used network effects to raise $3.7M from a founder-turned-VC, bringing the total to $6M at a $80M valuation (which, by the way, I set myself).

What flipping the fundraising script allowed us to do:

We started with private investors instead of 2–3 VCs to show VCs what we were worth. This gave Lawtrades the ability to:

  • Without meetings, share our vision. Many people saw our Journey link. I ended up taking meetings with people who planned to contribute $50k+, but still, the ratio of views-to-meetings was outrageously good for us.
  • Leverage ourselves. Instead of us selling ourselves to VCs, they did. Some people with large checks or late arrivals were turned away.
  • Maintain voting power. No board seats were lost.
  • Utilize viral network effects. People-powered.
  • Preemptively halt churn by turning our users into owners. People are more loyal and respectful to things they own. Our users make us who we are — no matter how good our tech is, we need human beings to use it. They deserve to be owners.

I don't blame founders for being hesitant about this approach. Pump and RUVs are new and scary. But it won’t be that way for long. Our approach redistributed some of the power that normally lies entirely with VCs, putting it into our hands and our network’s hands.

This is the future — another way power is shifting from centralized to decentralized.