'Multiplayer Crypto' is a thing now?
PartyDAO has just deployed the Party Protocol (and made it open-source)
Think of it like this:
Remember that episode of The Office, where Michael pitches a business idea to his grandma, who heads up her retirement home's investment club?
The Party Protocol pretty much lets people build investment clubs, just like Michael's grandma.
Except it's done using crypto and fully automated (so there's no 'head of the club' making the final decision).
As an example of what can be done with the new protocol, the PartyDAO team created PartyBid, which lets groups of people buy NFTs together.
The basic gist is this:
The group chooses an NFT they want to collectively buy, everyone chips in an amount they feel comfortable with, then when enough funds are raised - the NFT is purchased.
The ownership shares are denominated by how much money each person contributed - and the more you own, the more voting power you get when deciding what to do with the NFT.
Think of the whole thing like the ‘split fare’ function when 4 friends Uber together; but with the added feature of each paying friend being able to vote on the music being played in the car.
By making the protocol open-source they’re hoping a bunch of developers create their own dApps using the Party Protocol’s unique technology.
This concept of “multiplayer crypto” makes sense - if they can figure out how to make it easy for anyone to use, it could be a winner!
