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Common Wealth Announced a Permissionless Web3 VC Fund in 2024

Common Wealth’s 2024 launch announcement outlined a campaign for NFT “Slices” tied to a Web3 fund. The company’s estimates and planned prizes do not establish present fund status, performance, or holder rights.
From TheFinanceBase Team3 min to read
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On February 8, 2024, Common Wealth announced a free, three-week campaign through which participants could compete for NFT “Slices” in what the company called the “world’s first permissionless VC fund.” The announcement described a planned fund linked to 15 Web3 projects; it does not establish the fund’s present status, performance, or the legal rights attached to a Slice.

What Common Wealth announced

Common Wealth’s February 8, 2024 announcement, issued from Lisbon, Portugal, presented the initiative as an “earn-to-own” way to widen access to early-stage Web3 investing. The company described a permissionless system intended to manage investment processes and distribute proceeds to Slice holders until the fund was fully vested. “World’s first” is Common Wealth’s characterization; the announcement does not independently substantiate that claim or demonstrate the initiative’s outcomes. Common Wealth’s launch announcement

What the fund was said to include

Common Wealth estimated that the fund represented $2.4 million worth of allocations across 15 projects. That figure is the company’s estimate, not a verified cash amount or independently appraised fund net asset value. The projects named in the announcement were:

  • Analog
  • Asymmetry
  • BLOCKLORDS
  • Chirp
  • Cookie3
  • Diamond Swap
  • DYOR Exchange
  • FairSide
  • Mangata Finance
  • Mavryk
  • Nibiru
  • Nyan Heroes
  • OP Games
  • Rabbet
  • Common Wealth

This is the list as stated in the launch announcement, not confirmation of current fund holdings.

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How the announced campaign worked

The launch described a free, three-week series of off-chain and on-chain missions. To qualify for project leaderboards, participants were said to need a registered profile and at least three missions per project. Eligibility was subject to verification and possible geographic restrictions. These were terms of the historical promotion, not current instructions for joining.

What winners were promised

The announced prize structure covered 1,060 Slices across three tiers. Common Wealth said the Slices would be non-fungible fund NFTs appearing in recipients’ wallets, with intended functionality to split, transfer, or trade them.

Announced prize tier Number of Slices Stated value per Slice
Top tier 10 $10,000
Middle tier 50 $5,000
Entry tier 1,000 $1,000

Runners-up were also expected to share about $1 million in $WLTH tokens. The announcement said Slices would be airdropped after the campaign and that the token airdrop was planned for the week beginning April 8, 2024. These were announced prizes and timelines; the launch release does not independently verify that every distribution occurred.

What a “Slice” does—and what remains unclear

A Slice was described as an NFT representing participation in the fund, rather than a conventional publicly traded fund share. The announcement’s description of intended transfer and distribution features is not a substitute for the fund’s offering documents, token terms, or other legal materials. A prospective or current holder would need those fund-specific documents to establish applicable rights, restrictions, fees, custody arrangements, governance, and how vesting or distributions work.

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Later official-channel search results refer to the Free Fund going live and to fund-slice claims, but they do not establish whether this particular fund completed vesting, what assets or proceeds were ultimately distributed, or what rights holders have today. Later Common Wealth channel references

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What this announcement does not establish

  • Current availability: A 2024 launch announcement is not evidence that the campaign or fund is still open.
  • Final performance or value: The estimated allocation value and announced Slice values do not establish realized returns or current NFT value.
  • Fulfillment: Announced prize counts and airdrop dates alone do not prove that all prizes were distributed as planned.
  • Legal rights: The release’s description of Slices does not establish the enforceable rights or obligations of a holder.

Do not confuse this Web3 initiative with similarly named investment services. The available evidence does not establish that the 2024 fund and the service described in Commonwealth Markets, Inc.’s terms are the same entity; those terms should not be treated as governing the Free Fund without confirmation.

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