Poseidon DAO, started collecting NFTs back in 2015 when they were only known by the name collectibles. Since its inception, Poseidon DAO identified the NFT as the blockchain killer app. Indeed, NFTs have proven to be the technology able to unlock blockchain mainstream adoption. Poseidon DAO started collecting card games like Spells of Genesis and Force of Will, keep following the evolution of the NFTs landscape, collecting Blue Chip collectibles such as CryptoPunk#4174 and BAYC#5899. Since 2020, Poseidon DAO focused on Crypto Art, collecting and never selling 1-of-1 NFT artworks. At this point, the collection involves both known and emerging NFT artists, totaling between 200 and 300 artists. In this last phase, the NFT Fund evolved into the idea of Poseidon DAO. The evolution is built on top of a huge collection, the relationships created thanks to it, and the need for the disintermediation of its curation.
As the concept of blockchain relies on a distributed network of computers, represented by different entities sharing the same protocol, the crypto art is born by a group of artists supporting a new way of making art, the Non-Fungible Token digital mean. Believing in NFTs and onboarding new artists in order to expand the credibility of this new artistic movement, they made it possible to be no longer named only digital artists, but crypto artists as well.
Crypto artists are the outcome of a community effort, indeed the community quickly exploded in size, still onboarding hundreds of new artists. Crypto art offers new opportunities to both artists that didn’t find their place in the traditional art market and known artists that are looking for new perspectives. Numbers growth is subject to well known market rules: competition increase, fewer opportunities and questionably some opportunism. It just gets harder and harder to feel part of the same cohesive community that determined the recent growth of crypto art. The first question is then whether the noisy crypto Twitter is the best solution for shaping the bright future of this space.
At the same time, it also gets harder for collectors to filter the noise, building their collection not only as a form of investment, but serving the growth of crypto art in the right direction as they did up to this point. Building a large collection is both exciting and fulfilling, but it comes with some complexities: focus, pressure and judgement. Collectors are not, in most cases, bottomless pits able to buy whatever seems good. Buying artworks requires making choices, curation knowledge, long term vision, taking into account multiple relationships, building trust and reputation.
We believe the DAO, Decentralized Autonomous Organization, is the perfect representation of a model combining the requirement of a cohesive and focused community and the requirements for building a valuable collection. The collection is leveraged for shaping the direction of this community of innovators. The governance model enables productivity at scale, the tokenomic incentives participation, the decentralization avoids bindings, the openness allows opportunities.
Our goal is to make the crypto art the artistic movement of the XXI century, creating a decentralized curator based on a strong artistic knowledge, investing and innovating in the NFTs technology. The founders are the same pioneers that believe in Bitcoin in the early years, marrying its vision about removing the need for bank intermediaries in the financial system, and identifying the same principle in NFTs, removing gallery intermediaries for the artists.
Poseidon DAO will be the place for the same early adopters and artists to shape the future of crypto art. In our opinion, innovating in this space means designing new financial models that ease access to financial resources and instruments. In this case, NFTs themselves become financial assets beyond the artwork asset as historically meant, transforming them into liquid and expendable assets. We believe the NFTs DeFi opens up the doors to an unprecedented evolution of art. This model democratizes access to valuable art, as well as leverages valuable art to democratize access to credit.