DeepDAO, a website aggregating data on decentralized autonomous organizations (DAOs), has raised $3 million for future expansion in a round led by venture capital firms Hypersphere and DFG.
An announcement asserts the “overwhelming demand for DeepDAO’s seed round shows strong interest in data products for the DAO space and the belief the DAO ecosystem will grow.”
DeepDAO v1 currently provides data for more than 100 DAOs, aggregating data on organizations’ treasuries, membership, and governance.
According to the site, DAOs currently represent more than 66,000 members and $587 million in assets under management (AUM) — although the AUM has fallen 46% from more than $1 billion in the past month amid the recent crypto market downtrend. DAO treasuries are still up more than 300% since early November however.
Speaking to Cointelegraph, DeepDAO founder and CEO, Eyal Eithcowich, predicts the total AUM of DAOs will exceed $10 billion in AUM and represent more than one million users by the end of 2021.
Founding advisor to