New Order & Outlier Ventures To Collaborate On Metaverse-Focused DeFi Apps

New Order is teaming up with Outlier Ventures to leverage its Base Camp accelerator to find and fuel the development of a new generation of promising, decentralized finance projects. 

DeFi today is a hub of innovation, with no end of unique and interesting ideas around using blockchain and smart contracts to enable true financial freedom for its advocates.

That innovation is not lost on investors, with millions of dollars’ worth of venture capital flooding into the space. But still, there are hundreds of great ideas around DeFi that somehow never quite manage to get off the ground. 

That’s not due to a lack of funding, of course, but rather, the fact that investors don’t like to get their hands dirty when it comes to supporting the DeFi projects they back at the practical level, says New Order Co-Founder Eden Dhaliwal.

For many DeFi projects, what’s really lacking is the pragmatic assistance needed to build a loyal user base around them, and that’s what New Order is trying to tackle with its DAO.

With its stated priority of building over investing, it believes it has what it takes to bring multiple DeFi projects into the big time through its ecosystem-as-a-service approach. 

New Order’s community-led DAO is planning to select and incubate dozens of new DeFi applications over the next couple of years. Its community of smart contract developers and innovators will lend their expertise to ensure those apps get built, while simultaneously driving growth.

The community has every incentive to do so, as it’s putting its money where its mouth is, so to speak, by also providing the much-needed capital for those apps. 

By combining New Order’s transparent funding and development with Base Camp’s experience in fostering early stage startups, DeFi projects will hopefully get to market rapidly and begin generating revenue through its dApp marketplace.

Some of that revenue will then be plowed back into the DAO’s treasury and used to fund the next generation of DeFi. 

New Order has plans to foster 30 to 40 new projects over the next two years, but it’s taking a very selective approach. The idea is to back DeFi projects that fit into the idea of “MetaFi”, a term coined by Outlier Ventures that refers to the convergence of DeFi and the metaverse.

Think NFTs that are used as security for traditional fiat loans, for example. New Order’s DeFi applications will also fit with the open-banking trend, being based on transparent, public blockchain where the data they generate is available for other applications to tap into.

Outlier Ventures Chief Executive Jamie Burke said DeFi projects require a highly nuanced service provision and ecosystem activation through a dedicated Base Camp 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,” he said.

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