Making Bank: Thanking Crypto Communities with ThriveCoin | Daniel Jacobs, CEO - Making Bank: A Black Flag DAO Podcast (formerly Bankless DAO) Recap

Podcast: Making Bank: A Black Flag DAO Podcast (formerly Bankless DAO)

Published: 2023-01-25

Duration: 42 min

Guests: Daniel Jacobs

Summary

Daniel Jacobs, CEO of ThriveCoin, shares his journey from a C&D student to founding ThriveCoin, a platform designed to reward and recognize contributions in crypto communities. ThriveCoin aims to offer a scalable solution for rewarding contributions within decentralized communities, aligning with the broader vision of creating equitable value distribution.

What Happened

Daniel Jacobs, CEO of ThriveCoin, shares his personal journey from being a C&D student to founding an impactful platform, ThriveCoin, which aims to reward contributions in crypto communities. He reflects on his inspiration from a high school wrestling coach who believed in him, which fueled his understanding of value creation beyond traditional economic terms. This realization led him to establish ThriveCoin, drawing from his experiences in building two previous organizations aimed at fostering contribution economies.

Daniel elaborates on ThriveCoin's mission to support crypto communities by providing a system that rewards and recognizes contributions at scale. He explains how the platform auto-validates contributions across various platforms, rewarding them with tokens and on-chain thank-you notes, which he believes is a crucial infrastructure for supporting decentralized communities.

The conversation shifts to the importance of a sustainable business model, highlighting lessons learned from Daniel's earlier ventures. He emphasizes the need for thinking about scale, sustainability, and the importance of raising enough capital to weather difficult times, which he applies to ThriveCoin's development.

Daniel discusses the challenges and importance of rewarding real contributions versus hype-driven activities in the Web3 space. He argues that many perceived values in recent years were based on hype, which fades away, leaving the core question of building sustainable communities.

The episode also explores the funding of ThriveCoin, detailing how it is supported by over 43 investors, including venture capitalists and notable figures from various industries. Daniel stresses the importance of aligning with investors who share the vision and values of ThriveCoin.

Daniel sheds light on the practical aspects of ThriveCoin's operation, including how the platform auto-rewards contributions and offers incentives like raffle tickets for community members. He highlights the simplicity of the process, which requires users to connect their wallets and let ThriveCoin handle the rest.

Finally, the episode touches on the broader vision of ThriveCoin, aiming to thank 1 billion contributions in Web3, and discusses plans to introduce an NFT called the Missionaries, designed to further engage and reward community participation. Daniel concludes by encouraging interested communities to reach out to ThriveCoin for collaboration.

Key Insights