Most things in Web3 move at lightning speed, but in this case it took us 27 days, 38,314 minutes, and over 187,000 Ethereum blocks to announce that MESH has swept the floor of the Rug Radio Genesis NFT and we are now proud holders of 200 RUG, furthering our commitment to DAO-run organizations.
While we bought the NFTs over Thanksgiving, we waited until now to make the announcement. Why? Because we needed to do it right. MESH founder Joe Lubin, and MESH Managing Operating Partner Mike Kriak joined Farokh, Mando, and OSF live on GM Web3 this morning to share why we’ve decided to commit to Rug Radio, and even more importantly, how we plan to participate in RugDAO.
For those unfamiliar, Rug Radio is a premier web3 media brand that covers every corner of the web3 landscape with its programming. The name is not only a nod to “getting rugged” and to Farokh’s Iranian heritage, but also to the essential role a rug plays in tying a room together. Just as a rug compliments your home, Rug Radio compliments its hosts, by building the technology that will allow creators all over the world to not only develop quality content, but also own it.
Rug Radio is a decentralized media ecosystem in the truest sense of the term. When Rug Radio launched a year ago, they launched as a DAO, effectively becoming the first media project at this scale to ever do so. Rug Radio’s hosts, listeners, and brand partners all participate as token holders in the DAO via a 2 token model. Rug Radio’s community members own Rug Radio Genesis NFTs, which allows them to earn $RUG token. They can then convert their $RUG to $RDAO, and with this participate in the governance of RugDAO and the future of decentralized media.
Mike Kriak became a Strategic Advisor in the summer and the more he worked with the team, the more he realized MESH should formally get involved. The power of the team was, and is, undeniable. We deeply admire what the Rug Radio community has built:
- A vibrant and ever-expanding roster of hosts and creators
- 20+ unique live shows
- Partnerships with major brands like Uniswap, Givenchy, Ledger, Lacoste and more
- Conversations with epic guests such as Beeple, Hayden Adams, Raoul Pal, Kevin Rose, Nicolas Julia, RTFKT team, and many of the most prominent voices and biggest founders in the crypto/web3
- Most importantly, a dedication to decentralization and community ownership which the media industry has long been missing.
If you’re familiar with our work at MESH and as the original ConsenSys, our collaboration with Rug Radio will come as no surprise. At MESH we invest in the social and financial networks driving what is next in web3. We’ve been experimenting with decentralized media since 2017 and we have a rich history of participation in and incubation of DAOs. Our own team comes from media heavy hitters the likes of Mashable, Vayner, and Endeavor. From our success with Gitcoin and Decrypt to our learnings with Civil with Cellarius, we are committed to championing decentralized media.
So what comes next? We want to work hard with this brilliant team.
We’re working across the DAO on token design, partnerships, future NFT drops, hiring, and wherever else we can show up in a valuable way for Rug Radio.
Want to learn more? We recommend you check out the fireside chat between Farokh and Mike from Camp Decrypt in California this past fall. It’s not to be missed.