Tribes, the native Web3 DM-to-DAO messaging app, announced today that it has raised $3.3 million in pre-seed funding led by Kindred Ventures, South Park Commons and Script Capital. Tribes also announced the launch of its social wallets, the first combined messaging and wallet offering that is critical to unlocking the power of co-ownership and collective action. The group wallet allows people to co-own and manage digital assets, as well as communicate directly with other co-owners.

In today’s Web3 environment, the available communication tools (eg Discord, Telegram) are too detached from the decision-making process around digital assets, often making it too difficult for others to track what’s happening. what is happening, carefully participate or even get involved in it first. place.

Web3’s native identity and infrastructure allow group chats (and token-controlled groups) to go beyond conversations, to doing real things! However, this only works when there is great communication. Tribes believes that joint ownership and collective action, put into practice through Web3 technology, will change the economy and the world for the better. This will happen in a number of ways, including:

1. Friends and family co-finance and share large purchases like cars and houses
2. Groups that jointly invest in digital products and financial products
3. Collectors and communities interested in the success of creators
4. Fully operational DAOs with shareholders and operators
5. Government and civic engagement

For ubiquitous co-ownership to come to life, communication (social) and ownership (portfolios) must be deeply integrated. The Tribes app gives all group chats access to a shared wallet – any participant can activate it with a single tap. This shared wallet can send, receive, and store digital assets like NFTs, memberships, coins, and more. Sending or “spending” group assets requires group approval, a threshold that groups determine for themselves, like 3 out of 5 members, for example. Group members can thumb up (or thumb down) directly in the group chat to approve or reject transactions.

“Web3 primitives for co-ownership and collective action are transformative, but few people can understand the existing products and processes required,” said Hish Bouabdallah, founder and CEO of Tribes. “To realize the full promise of Web3, collective action is absolutely essential. Our approach to integrating directly into group chat makes these powerful new Web3 actions understandable and accessible to the masses.”

Today’s social wallet allows for “simple” experiences like:

1. Buy things you like together (i.e. buy an NFT like a group chat)
2. Save money in a group (casual investing club)
3. Managing a small organization (i.e. football team or interest group) with collective decision making and transparent treasury

And looking forward, each of these “simple” use cases is a building block for the needs on the horizon for DAOs, distributed application user groups, NFT communities, emerging crowdfunds, and other groups.

The Tribes social wallet combines best-in-class technologies, including secure multi-signature smart contracts (Gnosis), transaction signing with Coinbase Wallet or secure in-app signatures, and Web3 identity support (ENS, Lens, etc.) for the collaboration of co-owners.

The Tribes team is comprised of individuals with years of experience building and shipping crypto and social products at scale. Bouabdallah was previously a software engineer at Coinbase Wallet, where he was instrumental in building the flagship product Web3. Product designer Andrew Courter previously founded a startup that was acquired by Twitter in 2019.

About the tribes
Tribes is a native Web3 messaging and group wallet application to help the next generation of crypto consumers, creators, communities and DAOs collaborate and build relationships. For more information, visit tribes.xyz.