In July 2021, the open-sourced whitepaper for build_ was released in only a handful of Telegram groups. Since then we’ve done a few things:
-Assembled a community, contributor base, and core team from 43 cities across 6 continents
-Formed a joint software entity with Innovation Collective expanding our total footprint for distribution to over 7500+ members
-Incubated 3 ventures/products while building our own (Khalon Bridge, Splice, Dynamic NFT Minter)
-100% community-built and bootstrapped MVP shipped for hosting and accessing build_hubs
-Translated 10 years of R&D into a mobile app design for bootstrapping communities anywhere on earth
-15 physical build_hubs committed to the network
-Conducted a partnered build_challenge with The Tech Progressive to generate over 200+ essays on various tech topics
-Hosted 12x AMAs with some of the most prominent web3 operators
-Facilitated hundreds of cross-DAO connections
-Finalized v1 of the whitepaper
Needless to say our wheels are turning and we look forward to picking up even more momentum in 2022. Collectively we are the build_republic, a full-stack bridge for connecting digital economies and local communities around the world. The build_republic is a place where talent, capital, and physical amenities meet ideas where they are at, rather than where they should be. It’s often forgotten that some of the greatest innovations of our time came from the most overlooked places: Thomas Edison’s breakthroughs in West Orange, New Jersey; Galileo Galilei studying the stars in Pisa, Italy; The Wright Brothers achieving flight in Kitty Hawk, North Carolina. In the build_republic, we believe a decentralized world is just as much a geographical phenomenon as it is one of equal opportunity where great ideas and teams can come together to build solutions for the problems they want to solve locally or globally.
Our joint entity with the Innovation Collective forms the foundation of everything the whitepaper sets out to do. With Innovation Collective, they have pioneered the community-first, real-estate second thesis offline for the past decade. With a current portfolio of 7 ecosystems and a waitlist of cities and colleges looking to replicate their model, Innovation Collective’s expertise in this area forms the blueprint for which the rest of the build_republic can reference.
When coupling this foundation with DAO tooling we can further amplify our efforts when it comes to coordination of governance, capital, and talent across local and global layers. We are already starting to surface some pretty incredible connections between different build_city chapters around the world.
Now that the build_republic has begun its journey, we are also now ready to bolster our capabilities. As such, we are now opening our first round of financing in Build Republic, Inc. As of today, qualifying stakeholders can register to invest directly from our website.
Your investment in the build_republic (formally Build Republic, Inc.) gets you tokenized equity in the form of $BLDR. This represents equity in the software company that will be creating the necessary components for the build_republic. Please defer to final investment documents disclosed in the investment portal accessible from our website.
Our guiding rationale for this investment offering was simple. A community-first entity must also come with community-first capital. Put simply, we want to allow the maximum level of participation in the DAO that allows for as much exposure to the build_repbulic ecosystem as is compliantly possible.
Many ask why not simply launch a DAO token or NFT auction right away via Gnosis auction or Mirror? The reality is that dealing with real-world asset exposure is going to take additional regulatory maturity for members to have the maximum level of participation and rights in the activities of the DAO. This investment approach we found to be the most fitting sequence for the long-term success of the build_republic that works for its members to participate in the evolution of the protocol.
Accredited and non-accredited investors alike from around the world may invest in the $BLDR token via USDC or wire transfer. For non-accredited U.S. members specifically, a combined total of least $250K in soft commitments (non-binding) is required in the investment portal in order to activate a separate equity crowdfunding round that is compliant for all.
In order to access the investment portal, investors must have received an invite code which anyone can apply for on this site (see blue announcement at top of the page). While registration is currently open, the first investments will be accepted on March 1, 2022 through the portal to allow early supporters time to register. Investors committing a predefined minimum will also be given a Founder’s Passport NFT.
Accompanying the $BLDR investment offering are the release of our first three sets of NFTs:
The Genesis Passport NFT (1/1: Lifetime IRL/URL access)
The Founder’s Passport NFT (50/50: Lifetime IRL/URL access)
Alpha Edition Passport NFT (50/50: Lifetime URL access and additional IRL costs per use)
The Genesis Passport NFT represents lifetime access for its owner to all the build_hubs in the global network for coworking purposes (see complete terms). Issuance is 1/1 and this will be the only Passport NFT that will be distributed through an election process. Any investor in $BLDR will be eligible for the Genesis Passport NFT if they opt-in to be nominated on the investment registration form. Active members of the build_republic will be able to advocate for any of the $BLDR holders and nominate their candidacy. On 3/22 or after the first twenty-five $BLDR investors who opt-in to be nominated, whichever comes last, the community will narrow the list to 5 potential candidates and hold a vote. The top 2 candidates will advance to a second round of elections where each candidate will have an opportunity to make a final statement via any medium they choose as to why they will be best suited to hold the Genesis Passport NFT and the final vote will be held shortly thereafter.
The Genesis Passport aesthetic is inspired by the concept of Kintsugi and features dynamic data that reflects the latest status of all the build_hubs in the network shown by the beacons protruding from their respective geographic coordinates. Creative direction was driven by a community member in association with the Almanac Coop.
Founder’s Passport NFTs also represent lifetime digital and physical access for their respective owners to all the build_hubs in the global network (see complete terms). There will be a total of 50 Founder’s Passport NFTs. 15 of these passports will be set aside for any $BLDR investor committing a certain minimum to the fundraise, limited to one per investor. The Founder’s Passport NFTs will only be distributed once the election process for the Genesis Passport NFT is completed. The remainder of the Founder’s Passport NFTs will be auctioned after the initial round is complete to include any of those not meeting the minimum thresholds in the equity fundraise. Investment schedule for the first 15 Founder’s Passport NFTs is as follows:
Founder’s Passports 1-5: $50K minimum investment
Founder’s Passports 6-10: $60K minimum investment
Founder’s Passports 11-15: $75K minimum investment
Alpha Edition Passport NFTs represent lifetime membership access to the digital community in the build_republic and the ability to reserve seats in any of the build_hubs in the global network at the price set by the build_hub hosts. These rights will be the same for every subsequent edition of Passport NFTs where the NFT represents lifetime membership access to the digital community of the build_republic and the right to reserve physical build_hubs for an additional cost set by the host. 50 Alpha Edition NFTs will be set aside for any $BLDR investors committing $3K in the fundraising round (limit 1 per investor to include any Founder's Passport NFT purchases).
Additional Alpha Edition NFTs will be minted for any non-accredited U.S. investors committing $3K or more if conditions are met for activating the separate equity crowdfunding round (see above under $BLDR Tokenized Equity paragraph).
Owners or lease holders of physical buildings around the world are invited to list their property on our platform. Upon submission, the community will approve or deny each new property and upon approval, the local and global community is invited to work from the space. Both the building owner who is “staking” the real estate and the members who use the space will receive patronage rewards in the form of $BLDG that equates to their weighted governance in the DAO.
Currently, there are 15 committed physical hubs to the network that will be ready for use upon the alpha release of the platform in approximately Q3 2022. Here are a few of the highlighted properties:
In setting the foundation for build network incentives, our primary objectives is to accommodate members throughout the world to have maximum participation in both governance and economic rights in the build_republic and foster active participation in local communities. These activities should naturally drive the mission of the build_republic and draw in mission-aligned community members to vote on the direction and capital allocation of the build_republic.
The $BLDG token will at the heart of the build ecosystem upon DAO activation. It is used to distribute and decentralize governance, to reward contributions that expand the ecosystem, and for community development. $BLDR equity investors will additionally receive a token warrant that allows them to convert to $BLDG along with the ability to earn additional $BLDG by either staking a build_hub, accessing the network, or other community-determined activities.
While patronage rewards will decline over time, they will never run out. Early users of the build network will be rewarded the highest. The patronage reward schedule can be varied by governance if build members see fit, most notably with the merging of the mobile app features into the ecosystem. The full details of the tokenomics as it relates to allocation, distribution, and schedule can be found in the latest version of our whitepaper.