NFT giant Dapper Labs has acquired Brud, the startup behind virtual influencer company Lil Miquela. The acquisition will see Brud’s 32-person team joining Dapper Labs, the company told Decrypt. However, it has yet to reveal the terms of the acquisition.
Dapper Labs is a major player in the NFT industry, having rolled out top NFT collectibles such as CryptoKitties and NBA Top Shot. Furthermore, the startup recently announced a partnership with NFL and NFL Players Association (NFLPA) to launch a Marketplace offering digital video highlights.
Brud’s co-founder to lead Dapper Labs’ Dapper Collectives
Dapper Labs’ Brud acquisition is a vital step towards entering another significant space in the crypto world: DAOs, or decentralized autonomous organizations. DAOs are online communities that have no central leadership. They are community-driven and decision-making power lies with those holding ownership tokens.
DAOs have become common among many NFT projects, including Meebits, Gutter Cat Gang, Decentraland, and more. These DAOs help in making decisions on investments, promotions, token governance, or pretty much anything that decides a project’s future.
Dapper Labs is currently building its new DAO-focused vertical, Dapper Collectives. It will release tools to allow creators to develop their own DAOs on Flow. Furthermore, it will collaborate with existing companies to help in their switch to a decentralized world.
Where does Brud come into all this?
Brud’s Co-founder and CEO Trevor McFedries will lead Dapper Collectives. McFedries has been in the crypto industry for some time and is also the founder of a popular DAO called Friends With Benefits.
“Dapper Collectives is really going to encapsulate our vision for a DAO-driven and decentralized future of media,” McFedries said. “We’ve built this incredible audience and this fanbase that is deeply passionate about what we do [with Miquela]…We want to bring those folks together and allow everyone to share in the value that’s created inside organizations.”