A16z Invests $3 Million in Scene Infrastructure, a Spinoff of Friends With Benefits DAO

According to Blockworks, Friends With Benefits, a token-gated social DAO, is spinning out a software company called Scene Infrastructure, focused on Web3 applications for online and real-life communities. Venture capital firm A16z recently made a $3 million seed investment in Scene Infrastructure, having also backed Friends With Benefits. Initially, Friends With Benefits was a token-gated Discord channel that held members-only events in real life, with membership tiers based on the amount of FWB tokens owned. The token's value reached a new low of $1.06 on January 22, after nearly hitting $200 in August 2021, according to CoinGecko. Scene Infrastructure was co-founded by Jose Mejia, who contributed to the DAO and worked at Dapper Labs, and Ethan Daya, the co-creator of content minting platform Zora. In an interview with Blockworks, Mejia and Daya stated that the company would build products for Friends With Benefits, but they also have grander ambitions based on the premise that more people could join groups similar to Friends With Benefits in the future. One area they plan to work on is proof of participation in real-life events and the ability to track members' attendance at events over time. The startup aims to reveal some of its features at FWB Fest, a California event referred to as "crypto Woodstock," which takes place in August. Scene hopes to build products that create a "funnel that on-boards people into crypto in a way that's not just money. It's culture, it's community, it's interaction."