Blockchain startup Mural, founded by alumni of publicly-traded data analytics software company Palantir Technologies , has raised $5.6 million in seed funding at an undisclosed valuation to help global brands manage the treasuries behind their decentralized autonomous organizations .
Fung previously worked in product management at SoftBank-backed financial technology company Digits, but New York-based Mural has strong ties to Palantir, which was founded by billionaire Peter Thiel. Mural CEO Sinclair Toffa and co-founder and chief technology officer Arthur Kam both worked at Palantir as technical leads and engineers. Mural also named Dr. Robert Fink, former chief architect of Palantir’s flagship Foundry product, as one of the founding advisors.
, in brand communities to participate and vote. Proceeds go into a community treasury that’s used for operations and investments in desired projects.DAO treasury management is difficult for even smaller, niche communities. And brands forming a DAO have to deal with security, transparency and regulatory compliance issues for sizable treasuries that could manage tens to hundreds of millions of dollars, said Fung.
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