DAO, short for Decentralized Autonomous Organizations, have gotten a lot of attention over the past year. With the rise and fall of Olympus DAO forks, DeFi and blockchain development DAOs amassing enormous treasuries, and DAOs being used to run businesses and raise funds–these blockchain-based treasuries with tokenized voting power have a lot of potential. But what exactly are DAOs? How did they start, and what’s in their future? In today’s video, I’ll be diving into DAOs and how they could become the future of blockchain development, defi, and even– the future of work.
What We Discuss:
0:00 Intro
0:55 What are DAOs?
3:26 How Did DAOs Start?
7:26 DAOS Making History
9:18 What’s Next For DAOs?
12:33 The DAOs Potential
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All of our videos are strictly personal opinions. Please make sure to do your own research. Never take one person’s opinion for financial guidance. There are multiple strategies and not all strategies fit all people. Our videos ARE NOT financial advice.
Sources:
https://bitcoinist.com/bitcoin-original-dao/
https://www.xrtoday.com/mixed-reality/why-daos-matter-and-why-they-impact-nfts/
https://thedapplist.com/learn/what-is-fwb-friends-with-benefits-dao/
https://www.benzinga.com/money/top-investment-daos/#:~:text=A%20notable%20example%20of%20a,receive%20investments%20from%20the%20DAO.
https://makerdao.com/en/
https://www.bitdao.io/
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https://medium.com/swlh/the-story-of-the-dao-its-history-and-consequences-71e6a8a551ee
https://www.gemini.com/cryptopedia/the-dao-hack-makerdao#section-origins-of-the-dao
https://www.gemini.com/cryptopedia/glossary#hard-fork
https://en.wikipedia.org/wiki/Dai_(cryptocurrency)#:~:text=from%20lending%20Dai.-,History,on%20the%20main%20Ethereum%20network.
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https://www.gemini.com/cryptopedia/aave-crypto-liquidity-token-protocol#section-a-tokens
https://oecdonthelevel.com/2022/01/31/from-defi-summer-to-crypto-winter-leverage-liquidations-and-policy-
implications/#:~:text=The%20Decentralised%20Finance%20(DeFi)%20market,to%20gain%20traction%20with%20users.
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https://help.coinbase.com/en/coinbase/getting-started/crypto-education/rarible
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The Future of Cryptocurrency and Facebook’s Metaverse
In the future, the Metaverse will be powered by entrepreneurs and businesses that create content, provide services, or do things for the Metaverse. They must then be able to monetize their products or services. For example, an online cinema could issue tokens that allow people to view movies for an hour at a time. Tokens could also be used as passes to events or to another planet. Ultimately, the Metaverse is about providing people with the freedom to enjoy the benefits of the virtual world, while at the same time giving them the ability to earn profit.
The Metaverse has many potential uses. It facilitates social media and creates 3D virtual spaces that allow people to interact. It will give businesses new ways to expand their markets. It will give customers an entirely new way to interact with brands and products. It will enhance purchasing decisions. If successful, it will disrupt the digital economy. While it may be impossible to predict exactly how it will influence the future of commerce, companies can expect to benefit from this new medium.
Facebook is committed to building the Metaverse responsibly, but there are concerns about its future. The company has received criticism in the past for not protecting user privacy, allowing fake news to spread, and encouraging hate speech. It has stated that it will build the Metaverse responsibly, with focus on privacy and open collaboration with external firms. While this has gained some support, some critics of Facebook’s plans for the Metaverse see it as a threat to the metaverse.
