Forum is a platform to create your own web3 investment club. Their mission is to make it as easy as possible for people to get together and invest with others. It all started with the simple belief that investing together is more fun than going it alone. Building a portfolio can be seen as a social activity or intellectual challenge as much as a way to make money.
While there are some other DAO tools or multi-signature wallets out there, the Forum team have taken an approach which focuses on retail investors. So their intuitive user interface, accessible on both a mobile and web application, caters more towards regular web3 investors than to large scale operations handling millions of dollars.
Their latest feature, ‘Crowdfund’, is something never seen on AVAX before. It allows anyone to start a fundraise to buy any NFT. This opens up the opportunity for people to buy into premium AVAX projects, without the need to buy the whole NFT themselves.
Forum have partnered with Joepegs to provide the NFTs, so all you have to do is paste a link from an existing Joepegs listing, decide how much you would like to contribute, and give your crowdfund a name. Other people can then contribute, and when the total value is raised, the NFT is bought and a Forum group is setup to let all contributors manage the NFT. (If the raise is unsuccessful, 100% of your funds are returned)
Each member of the group will own a share of the group treasury proportional to how much they contributed to the NFT. You can then vote to sell the NFT, or even add more funds to buy further assets. The Forum group has built in governance settings which can be configured by the members using the Forum web or mobile apps. Initially groups will communicate in a private discord channel created for members, with plans to integrate an in app chat in the future.
But beyond the awesome UI and cross platform applications, the benefits of group investing go on. Increased buying power from pooling funds would allow groups to invest in NFTs far too costly for most individuals, but affordable if split among a group. Groups could even use this buying power to sweep the floor (buying up the cheapest listed NFTs of a collection) of projects they want to support.
It’s not just financially beneficial to work as a group, you can also get a lot more done in a short timeframe. Divide up the workload of gathering information, reading whitepapers, staying on top of the latest NFT projects and market moves. By working together you can cover more ground, and reap the rewards together.
If you can’t decide on a single strategy for your group, you can have certain groups to specialise in different areas. Maybe: Long term NFT hodling, GameFi, Research and sharing alpha, Raid parties, Testing pool for new tokens. This is even a great opportunity to onboard friends and family into investing. Setup a group and get them involved with the ability to mentor them along the way.
Given how easy it has become to setup an investment DAO on Forum, it seems that group based investing will only grow in popularity. And with the ongoing work from the Forum team, there are exciting times ahead for AVAX investors. Their plans to build out extension modules for groups will open a whole host of new ways for groups to trade, including copy trading or portfolio balancing, and the continued development of their web and mobile apps could lead to one of the most complete investing experiences on AVAX.
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