Summarizing the information found in Myco’s first blog post. To learn more read here.
What is Myco
Myco is a platform for people that have a shared set of goals and values. The platform will help people translate that shared interest into real world action. The platform focuses on Digital Social Clubs and it will enable participants to become a community, collective, coop, and / or a company.
To create a space on Myco, is to launch a company. These companies will sit under the Myco company. Individual contributors will be producted from individual liability, resulting from the actions of the collective since the new companies will be under the Myco company.
Myco companies have the following features:
Co Ownership allows users to use a points system to represent shares of the organisation. The shares represent the profit rights from the company’s activities. Points are continuously added so that new contributors can jump in.
Co Roles allows users to have two basic identities in the company. The identities are Creators and Members. Creators have complete control over how centralized or distributed the decision making is. Creators also dictate how new members can join the company.
Co Vault allows for the company to make money through membership fees, selling products and services, etc. The money that the organisation earns is deposited into the Vault. Deposits can also be made for money earned off the platform. Profits can be split from the Vault to the company Creators and Members. The distribution is tied to the number of points each user has.
Co Conversations allows for users to talk to one another. Right now conversations can happend through text-based media. It is a blend between Discord, Twitter, and Reddit. Soon, audio and video channels will be introduced and various measures can be put in place to open / close conversations to specific groups in the company.
Example companies that are being created through Myco include:
NFT Gated Community
Creator Fan Club
Making Money with Friends Online
Myco Details
The company will never coerce their users, sell Myco company data, or deliver ads to Myco. Myco makes money by charging a 10% royalty on all profits which Myco company’s distribute to their point-holders. The reason for this is because Myco acts as a community mangaer, legal advisor, accountant, and technology provider. The fees will be ongoing. Half of the economic value that is generated from Myco will be shared among its users and the other half will go to the Myco company to help operate and improve Myco.
Myco is interested in building out its own team. If you are interested, reach out to arya@myco.space and explain why you want to join. If you want to start you own company with Myco, reach out to mark@myco.space.