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Inaugural fellowship program designed to help Y Combinator alums validate, build and ship their next web3 project

Web3 is still in its early stages, so it is critical to encourage experimentation and shared learning to unlock the next level of web3 innovation.”

— Steven Chien, co-founder and General Partner at Press Start Capital

LOS ANGELES, CALIFORNIA, USA, Nov. 21, 2022 / — Orange DAO, the builder and investor group comprised of Y Combinator alumni founders and Press Start Capital, the pre-seed/seed stage venture fund focused on web3 gaming , metaverse, NFTs and entertainment, today announced the conclusion of the first cohort of the Orange DAO x Press Start Fellowship.

Ten Orange DAO members participated in a ten-week community program culminating in a private demo day. Each fellow received $25,000 in grants, tailored mentorship and access to a close-knit community of like-minded builders. About half of the fellows secured funding during the fellowship, and several were accepted into the next group of top-level accelerators.

The Orange DAO x Press Start fellowship is a joint initiative of Orange DAO, the DAO for 1,300+ founders of Y Combinator-backed companies, and Press Start Capital, an early-stage web3 games/entertainment fund. The community program aims to bring more developers to web3, encourage experimentation and support early-stage founders.

“Orange DAO’s mission is to empower DAO members to dive into web3 full-time and grow the web3 ecosystem,” said James Sinka, orange DAO scholarship program manager. “Orange DAO chose Press Start Capital as its first partner to expand the number of fellows and to deliver their unique expertise in games, NFTs and entertainment to the fellows. It takes a village to raise a child, so we are excited to partner with Press Start Capital for our first community.”

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“The builders in Orange DAO are asymmetric, so it was easy to bet on them early. As such, we made this scholarship the most builder-friendly program in the area, offering community support, accountability and grant funding,” James added.

“Web3 is still in its early stages, so it is critical to encourage experimentation and shared learning to unlock the next level of web3 innovation,” said Steven Chien, co-founder and General Partner of Press Start Capital. “Orange DAO is the gold standard for builder DAOs, and as builders ourselves, we are committed to supporting founders at the earliest stage.”

“This community uniquely fills the gap between weekend hackathons and accelerator programs,” Steven added.

Here are some of the fellows who are launching something new:

– Derek Chiang: “ZeroDev is an SDK for building web3 products that are easy to use for common people. With ZeroDev, your users can use your application without having to install wallets or pay gas, while having full control over their assets . ZeroDev will attend the Y Combinator Winter 2023 cohort.” [Check out ZeroDev here:]
— Beginner-friendly web3 apps that feel like web2 apps will be critical to tapping into the next wave of crypto users.
– Rashid Aziz: “Basic is a web3-based database. A data network for developers to build efficient applications while allowing users to retain ownership of their data.”
— Data ownership is an important value proposition in web3, but we have yet to see a user-friendly, fully decentralized database that puts control in the hands of their users.
– Richard Bronson: “Second Chance is a DAO network for the 70 million formerly incarcerated Americans, and their family/friends, to reintegrate into society.”
— The formerly imprisoned find it particularly difficult to find a foothold in society once they have returned.
– Emerson Hsieh: “We are building Crypto Towns believing that web3 games will not look like web2 games with a crypto layer, just like mobile games are completely different from PC/console titles.”
— Web3 gaming tokenomics will push the boundaries of tokenomics, incentive design and consumer apps.
– Benjamin Huang: “Basestation builds a feed builder for web3. You can add accounts from twitter, lens, farcaster, filter their posts against specific parameters and create a feed with your unique perspectives.”
— As web3 fills up with more noise, owners of NFTs and tokens are increasingly finding it difficult to exploit the utility of these assets.
– Jeff Shaw: “Building a platform to help DAOs develop strong bonds between members through virtual immersive happy hours that bridge the physical/virtual divide.”
— As remote teams scale, cohesion and connectivity are put to the test.

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About Orange DAO
Orange DAO is a group of over 1300 Y Combinator alumni, working together to build and invest in the best companies in web3. Orange DAO was formed in late 2021 and has so far raised $80 million, mainly from two strategic investors: tier-one blockchains Algorand and Near. Orange DAO invests in pre-seed and seed stage web3 startups, but has created the community to bring new opportunities to talented members who are still on the sidelines.

The Orange Fellowship program is a new strategic initiative that allows Orange DAO to invest in its most talented members, and gives members an opportunity to jump into web3 full-time. This program enables testing of new ideas and accelerates founders’ journeys. Always looking for the best ways to support its portfolio companies, Orange DAO now has an arm to extend its support to YC alumni who have been looking for an opportunity to jump into web3. Fueled by the latest fundraising, Orange DAO is embarking on an opportunity to put the most talented web3 entrepreneurs into business.

About Press Startkapital
Press Start Capital is a pre-seed/seed stage venture fund focused on web3 games, metaverse, NFTs and entertainment. Our fund partners are experienced builders with several exits. We believe that the best support for founders is a community of other builders – learning and helping each other.

As crypto eats software and gaming eats culture, now is the time to build a new golden age of entertainment – ​​where players participate in the creation and ownership of the games, stories and assets they value.

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Press Start Capital’s “Multiplayer” strategy is to partner with quality organizations and groups to identify, fund and support promising founders building this new golden age.

Daniel Delson
Magnitude Inc.
[email protected]
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