New Order, a permissionless DAO incubator for early-stage decentralized finance projects, recently announced a partnership with Base Camp, one of the leading web3 acceleration projects owned by Outlier Venture.
The announcement was made public via a press release which also spotted that both entities are on the verge of launching between 30 to 40 new DeFi projects collectively over the next two years.
Part of the press statement also revealed that the primary purpose of the partnership is more tilted towards driving DeFi innovation even further. Notably, the statement indicates ongoing plans to build a next-gen application that includes plugins into the metaverse; that is, a hybrid application that converges both online and offline worlds together.
However, to achieve maximum efficiency, the new project will leverage New Order’s existing infrastructure and protocol which includes its network of builders, investors, and smart contract developers.
It is also worthy of note that New Order is made up of a team of experts who share a mutual passion to build a DeFi application with increasing multi-chain capabilities. Likewise, the team wants to leverage its network of experts in broadening its scope of operation to include other digital variables such as NFTs.
Given that projects of this nature may come at a great cost, Outlier Venture will be funding the entire process, having previously raised over $250 million for web3 startups.
That said, New Order will bootstrap the new DeFi project through what it described as “ecosystem-as-a-service.” In other words, the team that will see the project from start to finish are the ones available in-house.
Interestingly, New Order marks the first DAO project that will be funded by Outlier Ventures; hence, it marks its debut into the metaverse space.
New Order and Outlier Ventures to Explore New Opportunities in “MetaFi”
Unless you are a newbie, the term “MetaFi” should not be hard to digest, in as much as it was just coined by Outlier Venture as part of their overall expectation for the new partnership.
While MetaFi is a combination of Metaverse and the DeFi world, Outlier Ventures is optimistic about the opportunities that may ensue from the ongoing project. For instance, people now take loans using NFTs as collateral; likewise, there is a host of people trading NFTs for cryptocurrency, implying that there is a growing market for MetaFi.
Beyond the aforementioned opportunities, the partnership will also explore untapped aspects of DeFi, and subsequently birth new DeFi products and, most importantly, introduce a new user experience to the web3 community at large.
“With Outlier’s industry-leading Web3 accelerator and New Order’s DeFi ecosystem, our DeFi Base Camp will launch exciting projects that will bring new DeFi products and user experiences to Web3 communities, CeFi, metaverses and more,”
said Eden Dhaliwal, the founder of New Order.
On the other hand, the partnership deal came at the right time for Outlier Ventures who, despite their massive investment in several DeFi projects, have also been looking forward to setting their foot in the Metaverse world.
“We have been investing in DeFi for several years but it requires a very nuanced service provision and ecosystem activation which requires its own dedicated Basecamp program. New Order’s venture DAO was able to bring that together in a scalable way, and together we can really define a whole new category of DeFi, MetaFi,”
Jamie Burke, CEO, Outlier Ventures noted.
While the partnership is still a few days old, at least officially, the decentralized world at large anticipates yet another thrilling project that could possibly boost mainstream adoption of DeFi as a whole.