Web3 platform Metalabel partners with Gitcoin to drop the Quadratic Funding NFT collection featuring the digitally signed “Liberal Radicalism.” It is a whitepaper written by Ethereum co-founder Vitalik Buterin, Harvard economist Zoë Hitzig, and RadicalxChange founder Glen Weyl.
Metalabel refers to digital files as “records,” taking its cue from the independent record companies of the 1980s.
Essays by Kevin Owocki and Scott Moore, the two co-founders of Gitcoin, will also be included in the Open Edition on-chain record. Vitalik Buterin, Zoë Hitzig, and Glen Weyl digitally signed the white paper NFT.
“Gitcoin and Metalabel are celebrating quadratic funding by collaborating to release The Quadratic Funding Collection to commemorate and preserve this original work and to raise funds for public goods,” the website reads.
The Quadratic Funding NFTs were available in an open edition mint from March 1 until March 8, 12 PM ET. This record is the first edition of Metalabel’s “Quality Drops” series, set to launch over the next three months.
9,209 editions, each costing 0.05 ETH, about $76.95, were all sold out. The Quadratic Funding collection collected 390 ETH in total sales.
There were 12 “Signature” edition records available that were auctioned in a Dutch auction format, including physical copies of the whitepaper signed by the three authors. All 12 sold out as soon as minting was completed.
At the end of the mint event, the price of these 12 editions decreased linearly from 10 ETH to 1 ETH. The collectors get the record and its contents of their choice.
The Gitcoin Grants Matching Pool and the Plurality Institute, which fund and support public goods, will receive $781,274 raised by this record.
Buterin “agreed to reissue the whitepaper he co-authored” for the NFT drop, according to a Metalabel spokesperson.
Metalabel co-founder Yancey Strickler stated: “Today, there are non-profits that exist for a mission or impact, and there are for-profits that exist to accumulate capital,” he said. “And then there’s this in-between of projects that exist to promote a cultural point of view that really don’t have a home.”
Strickler added, “We’re blown away by the response to Quality Drop 01 and what it means for the future of creative collaboration. Helping to generate more than $700,000 in funding for public goods and a newfound appreciation for great creative work using the record format says this is an exciting new way for creators to release and fund their work.”
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