Bankless, a platform for crypto instruction and media, has shifted off of Substack and onto its own website, referred to as Bankless 2.0, in order to have greater influence over its destiny and concentrate on Web3. According to statements made by the platform’s founder, Ryan Sean Adams, the platform intends to investigate the possibilities of what Web3 media is capable of accomplishing when it has a well-defined purpose and a community that is highly determined.
New Web3 features, such as podcast collectibles and a POAP vault, are being made available to members of Bankless 2.0. These features will allow supporters to accumulate on-chain mementos for important events. As a result of the collaboration between the platform and Coinbase Commerce, users now have the option to pay for subscriptions using cryptocurrency. In the coming weeks, the website intends to introduce additional Web3 features, such as citizen accounts and an option to check in with Ethereum, for a more private and crypto-native approach.
The announcement of the introduction of Bankless 2.0 follows the confirmation by the company’s creators, Ryan Sean Adams and David Hoffman, of the launch of a $35 million crypto startup fund, which will be operated independently from the media business. Bankless had previously established a decentralized autonomous organization (DAO) with its own governance cryptocurrency called BANK, and a portion of the original supply was given away as an airdrop to special subscribers of the Substack newsletter. The majority of the DAO’s treasury is held in the cryptocurrencies BANK and ETH. The total value of the DAO’s cryptoassets is approximately $1.4 million.
