Published
2 years ago on
May 28, 2021
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This week finance.vote, the decentralised organisation that creates governance dApps for DAOs, announced its first major partnership with the groundbreaking new fan engagement platform - Olyseum.
Olyseum is the blockchain-powered social ecosystem that strengthens the connection between fans and stars through Non-fungible Tokens (NFTs). This partnership announcement comes as Olyseum prepares for the upcoming launch of its highly anticipated star-led NFT platform, set to be introduced in the coming weeks.
finance.vote specialise in quadratic voting technology and price discovery, with a prediction market, a decentralised auction house and a suite of gassless multi-chain voting tools designed to upgrade governance across the DeFi space. The finance.vote dApp suite is the decision making tool kit for the future of decentralised finance. It is governed by FVT holders, who control our roadmap, monetary policy and the funding of the platform.
finance.vote will work alongside the Olyseum team as their official DeFi and Governance infrastructure partner, supporting them in building their decentralised exchange market, price discovery mechanisms, and influence based fan democracy.
NFT Auction and Price Discovery
The upcoming launch of Olyseum’s innovative new NFT market category will fundamentally redefine the NFT landscape. Olyseum will be one of the first partners to use finance.vote’s soon to be released decentralised auction house.
Using finance.vote’s Binary Search Auction design, which focuses on discovering the optimal price for extremely rare and high value NFTs, Olyseum will bring an exclusive series of NFT drops that will represent a ‘first in the world’ type of NFT. finance.vote will also work closely with Olyseum in the design of their new brand of NFTs, supporting them in developing a mechanism to allow for NFT trading.
Liquidity Engineering
Olyseum’s innovative new brand of NFTs will be purchasable with Olyseum’s native utility token ‘OLY’ and given their target valuations. Users will need access to large amounts of tokens.
Currently, the OLY market has very limited depth, with only 4 million OLY tokens available in the Uniswap market. Olyseum will utilise a combination of the auction.vote exponential token auction, yield.vote liquidity mining, and token staking functionality to bootstrap pools across a range of decentralised exchange venues.
Using these dApps, Olyseum will bootstrap vastly deeper markets allowing larger players to take positions in OLY in advance of their forthcoming NFT releases.
Fan Democracy
Following on from the recent influence.vote test on the London Mayoral Elections, finance.vote will partner with Olyseum to build a v2 of influence.vote that is tailor-made for fan engagement and seamless integration into the Olyseum platform and social media technologies.
Olyseum’s growing roster of stars who have vast social media reach, will be the test bed for a new NFT based social token governance system that will allow stars to engage in social consensus games with their biggest fans.
Fan democracy will utilise social tokens such as NFTs to reach consensus with their fans and build the content that they want.
dApp Suite Adoption
Olyseum is the first in a wave of cutting edge products that will utilise finance.vote’s dApp suite. Using bank.vote, auction.vote, yield.vote, and now influence.vote, Olyseum will be the first major project to adopt and showcase the far-reaching potential of the finance.vote ecosystem as a major player in DeFi infrastructure.
By adopting the finance.vote dApp suite, DeFi and projects such as Olyseum can build a token economy and governance ecosystem, whilst concentrating on their use cases and driving adoption to their products.
Commenting on the announcement, finance.vote founder Dr. Nick Almond said:
“It was only a matter of time before the Cryptospace would change the way that celebrities engage with their fans online. With this partnership, we will bring our expertise in governance and token economics design to the Olyseum ecosystem, ensuring that our governance infrastructure is tailored to one of the most vast and exciting of markets — the fan engagement space.
Carlos Grenoir, Olyseum founder and CEO also commented on the partnership:
“This partnership announcement comes at a hugely significant juncture in Olyseum’s journey, as we prepare for the imminent launch of our new star-led NFT platform. The finance.vote team shares our vision to drive innovation within the DeFi and rapidly expanding NFT spheres, and given the natural synergies between Olyseum and finance.vote, we are well positioned to make significant headway in the near term on some very exciting initiatives.”
Summary
Olyseum represents a new evolution of how blockchain technology can bridge the engagement gap between celebrities and their fans, merging cryptocurrency, NFTs, and decentralised governance. It is a partnership that showcases how finance.vote will become the consensus layer for DeFi. Not only will this partnership create a foundation for Olyseum’s token economics and governance, but it will also drive DeFi innovation into mainstream culture.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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