Myco is an all-in-one platform that enables Digital Social Clubs to create digital media as a group and collectively own the economic rights associated with their actions.
Currently, collective ownership is hard to achieve. It is difficult to ensure that the right people and contributors receive the right rewards for their work. Incentives aren’t always well-aligned when it comes to collective ownership, and Myco seeks to solve this through a native points system and the use of LLC’s.
Furthermore, DAOs and community driven projects must use a combination of various tools and platforms to conduct essential tasks like fundraising, storing funds,developing governance, and socializing. Myco is building an all-in-one platform.
An entity formed with Myco is referred to as a “Co”
Forming a Co: Every Co that is formed on Myco is a Nevada-based Series LLC. This ensures that no individual is individually liable for the actions of the community. Co’s are then governed via a native points system. These points are used as a mechanism to share profits and can be leveraged for other functions as well, including governance and voting rights. Co’s can assign roles, generate and store funds, and interact socially, all within the app.
Myco is making collective ownership feasible and convenient, and also moving a portion of the legal burden off the shoulders of communities. Myco is working to redefine the way we think about the governance structure of digital communities, a topic that many DAOs are grappling with at the moment.
Myco also promises consolidation of tools, offering a one stop shop for digital communities to manage roles, compensation, and funds.
Information is limited since the product is still invite-only.
Use cases include NFT-gated communities, creator fan clubs, or a group of friends simply making money together online. If you are interested in developing an online community that will benefit from collective ownership, DAO-like governance, and requires pooled capital, Myco might be a fit for your use case.
Right now Myco is invite-only and we are excited to test it out once it is open to the general public.
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