Vision, Mission, Values

Vision

FWB represents the needs of cultural creators and maintainers and equips them with the community and Web3 tools they need to gain agency over their production.

We do this by:

  1. Acting as an entrance into Web3, physically, digitally, and conceptually. We create IRL events, digital spaces, and stories that connect Web3 potential to cultural narratives.
  2. By using Web3 tools and spaces to build community, connect with diverse perspectives, and empower participants to form their own subcultures.
  3. By creating tools, works of art, and products that showcase the potential of Web3 and create measurable change in the lives of cultural creators and maintainers
  4. Understanding that our position of influence requires the responsibility to act as delegates, collectively governing and representing the needs of cultural creators and maintainers within FWB, the Web3 space, and beyond

Vision – 1 Pager

Mission – Deck

Mission & Roadmap

We strive to accomplish this vision through the development of Web3 native experiences and tools that are co-created by and for the FWB community through a series of work streams ranging from Events, Membership, Products, Editorial, Grants, and more.

While a traditional company or organization may have the privilege of one explicit reason for existence, the FWB DAO emerged first as a social community – making sense of how the Web3 world was evolving and affecting culture –that then came together to determine what it's focus areas should be, resulting in various funding initiatives to drive value and benefits to its community in those areas.

The first Roadmap presented to the FWB community from FWB contributors was shared in a community Town Hall on August 16, 2021.

Roadmap Presentation

Recording

Ultimately, FWB has always viewed itself as an internet-native city, in that its experience means different things to different people, but with the ultimate goal of creating a sense of place, identity, and community that brought together individuals with shared values and aspirations.

mission values img

Values

We act according to four core values: agency, convergence, advocacy, and ownership.

Agency is about the permission and capabilities to act. It’s about having the values, tools, and support needed to free oneself from the constraints of centralized platforms and take more direct actions in one’s own work, community, and livelihood.

Convergence is about the ability to self organize and self govern. It is both the space + tools to converge different perspectives and embrace the new conversations and identities they create. It is the ability to self-select one’s community and feel a sense of security and belonging within it.

Advocacy is about amplification and action. It’s about providing space, tools, and teams to the voices of cultural creators and maintainers who have historically been underrepresented and undercompensated.

Ownership is about capturing the value one creates. It’s about finding new ways to measure and compensate for forms of cultural contributions that have been overlooked.

Organizational Objectives & Key Results

The FWB contributing team has compiled a consolidated set of DAO-wide objectives as well as departmental objectives that aid in accomplishing our collective vision from now until 2023. Note that many of these objectives will be put to proposal for the community to decide on before committing to deliver them but this aims to project a year forward of objectives we’d like to accomplish.

DAO-Wide Objectives

Objective: Upgrade FWB’s overall infrastructural model to improve a series of objectives that encompass membership, governance, and economics

  • KR-1: Establish a sustainable revenue model to the FWB DAO whereby enough revenue is generated to maintain community costs
  • KR-2: Establish a more sufficiently decentralized governance model for the FWB DAO that manages the Treasury through a more egalitarian governance model.
  • KR-3: Establish membership entry mechanics that are sustainable over time, avoiding severe gentrification
  • KR-4: Gradually shift the FWB DAO from a centralized group of employees into a hybrid model of sufficiently centralized elected leadership plus proposal based contributors.

Objective: Introduce and successfully integrate a meaningful “post-Discord” digital experience for FWB that enhances the Discord via FWB’s ‘Intranet’ mobile app product (e.g. Member Directory, Profiles, Gatekeeper Events

  • KR-1: Launch FWB Mobile App by end of Q4 that contains Member Directory, Profiles, Events, and more.
  • KR-2: Achieve 80% migration rate of all eligible FWB Members onto the Intranet via minted profiles by March 31st, 2023.
  • KR-3: Achieve 20% DAU/MAU Ratio by May 1, 2023 with 5% growth month over month.

Objective: Execute our flagship event FWB FEST 2023 where our digital city comes to life once a year.

  • KR-1: Grow FWB FEST’23 attendance from 500 attendees to 750 attendees.
  • KR-2: Aim for FWB FEST’23 to break even and establish a pathway to profitability for the DAO for future years as FEST grows.
  • KR-3: Ensure the event is community and participant-driven by having at least 50% of the programming be contributed by FWB members (e.g. talks, music, activations).

Events

Objective: Execute our flagship event FWB FEST 2023 where our digital city comes to life once a year.

  • KR-1: Grow FWB FEST’23 attendance from 500 attendees to 750 attendees.
  • KR-2: Aim for FWB FEST’23 to break even and establish a pathway to profitability for future years as FEST grows.
  • KR-3: Ensure the event is community and participant-driven by having at least 50% of the programming be contributed by FWB members (e.g. talks, music, activations).

Objective: Execute an Events program that bridges our year round local events and our annual FWB FEST.

  • KR-1: Produce a meaningful event by gathering our community around existing cultural moments at least once a quarter (e.g. Art Basel, EthCC, NFT.NYC, SXSW).
  • KR-2: Implement a revenue mechanic to attend FWB Events for non-FWB members that involves burning or purchasing $FWB by January 31, 2023.
  • KR-3: Aim to increase membership application rates by 10% within the month following a major FWB event.

Objective: Execute FWB Local Events

  • KR–1: Ensure that at least 60% of local events take place in our core cities (LA, NY, and London) while the other 40% of local events cover global cities.
  • KR-2: Create a system to identify new “FWB Cities” (places where at least 20 FWB members reside) in order to facilitate an IRL local event in that city.
  • KR-3: Ensure at least 50% of event attendees are FWB members.
  • KR-4: Aim to increase membership application rates by 5% in Event Key City within the week following a major FWB event.

Governance

Objective: Evolve FWB’s membership mechanic to refine member experience and economic model.

  • KR-1: Explore updates to the FWB membership mechanics model by surfacing meaningful community or contributor proposals by Q4 2022.

Objective: Establish a more decentralized governance model for the FWB DAO

  • KR-1: Propose 2 alternative voting formats beyond one-token-one-vote to increase integrity of the voting system by March 1, 2023.
  • KR-2: Explore the implementation of a permissionless proposal process in order to decrease proposal friction by March 1, 2023.

Objective: Increase member participation in FWB governance

  • KR-1: Increase rate of community proposals by 5% quarterly in 2023.
  • KR-2: Increase rate of community voter participation by 1% quarterly in 2023.

Marketing

Objective: Grow awareness of the FWB brand and increase membership applications

  • KR-1: Refine the current email distribution strategy to grow subscribers by 5% MoM and open rates by 2% MoM through 2023.
  • KR-2: Define our brand voice + style across social channels to share clear throughlines about who we are and how we represent ourselves to the wider community by Dec 31, 2022.
  • KR-3: Place at least one meaningful PR story a quarter that thoughtfully promotes the FWB narrative (e.g. WaPo, The Face, NYT)
  • KR-4: Continue to position FWB as thought leaders in the space by creating and distributing meaningful content via FWB-owned media channels (e.g. WIP and FWB.FEST Videos) that are measured via growth of view counts on individual pieces.

Objective: Better engage and communicate with existing FWB Members

  • KR-1: Clarify and refine existing FWB distribution channels (Discord, Email, Social Media) to increase relevant communication of important FWB news over 2023.
  • KR-2: Refine current social strategy to increase social engagement across Instagram by 10% to at least 3K per month + increase Twitter impressions to 500K per month on average.
  • KR-3: Establish a new communication strategy to engage the FWB community via native FWB “Intranet” post-Discord experience by March 31, 2023.

Membership

Objective: Refine the new member 30-day onboarding journey by implementing a new cohort onboarding system.

  • KR-1: Increase new member engagement by 5% quarterly by measuring “activity” of new members (# of messages sent in first 30 days, # of channels visited in 30 days).
  • KR-2: Track churn percentage of members who go through the new 30 day onboarding journey and decrease by 10% quarterly.

Objective: Update and improve membership application process

  • KR-1: Increase the “acceptance to wallet connect” success rate to 80%+ for all members accepted in Season 7.
  • KR-2: Decrease number of applicants in the “Need More Info” and “Waitlist” stages by 10% quarterly.

Objective: Track and improve health of membership at FWB

  • KR-1: Experiment with new Discord formats, strategies, and channel architectures to routinely “refresh” the Discord to improve member experience by NPS via routine Census
  • KR-2: Develop dashboard (or weekly roundup) that outputs actionable data on a weekly basis by January 31, 2023.

Treasury / Operations

Objective: Identify and develop meaningful revenue streams for the FWB DAO to become sustainable

  • KR-1: Grow two revenue streams by the end of 2023 that together generate ~40% of monthly burn (e.g. Partnerships, Events, Curatorial) to work toward an eventual sustainable DAO operating model
  • KR-2: Pilot one new revenue stream by the end of 2023

Objective: Gradually shift the FWB DAO from a centralized group of employees into a hybrid model of proposal based contributors.

  • KR-1: Decrease the FWB DAO contributor burn by target 33% by March 31, 2023 (current burn: 286k/mo).

Partnerships

Objective 1: Establish new governance process to decentralize the proposal and selection of community partnerships

  • KR1: Establish a partnerships review committee (similar to memberships) that reviews pre-proposals and helps community members take partnerships to vote by Jan 31, 2023.
  • KR2: Facilitate at least one organic community-driven partnership proposal per quarter

in 2023.

Objective 2: Expand revenue-driving partnerships

  • KR1: Secure $1M in partnership revenue in 2023, up from $750,000 in 2022.
  • KR2: Generate at least one additional new FWB offering (beyond Events & Curatorial) for paid partnerships by March 31, 2023.

Objective 3: Expand cultural and value add partnerships

  • KR-1: Source 1 cultural partnerships a quarter that provide clear benefit to FWB members beyond revenue.

Product

Objective: Launch an FWB native Mobile App that serves as FWB’s ‘Intranet’ (e.g. Member Directory, Profiles, Gatekeeper Events, Mobile App experience) to introduce a meaningful “post-Discord” experience for FWB.

  • KR-1: Launch FWB Mobile App by end of Q4 that contains Member Directory, Profiles, Events, and more.
  • KR-2: Achieve 80% migration rate of all eligible FWB Members onto the Intranet via minted profiles by March 31st, 2023.
  • KR-3: Achieve 20% DAU/MAU Ratio by May 1, 2023 with 5% growth month over month.

Objective: Properly resource and expand the FWB product team to develop meaningful software that provides value to the FWB community and further proliferates $FWB

  • KR-1: Vote on and implement the establishment and funding of FWB Labs as the software entity that is owned by the FWB DAO by January 31, 2023.