Decentralized Autonomous Organization is a term for an organization that’s build around blockchain technology, creating similar incentives for everybody involved. The term Decentralized Autonomous Organization is often abbreviated as DAO.
All rules of a DAO are encoded into a computer program, or smart contract, on the blockchain. This means that all decision making and value transactions are transparent. They are controlled by the members of the DAO, where the ones with the biggest stake into a token project also has the biggest say. Someone’s stake into a DAO is often determined through the amount of governance tokens they have.
At the moment the legal status of a DAO is very unclear, as these organization don’t have a physical location, nor function similar to corporations or businesses. For example, the members of a DAO can be anonymous, while CEOs are legally responsible for the rise and fall of a company.
Splinterlands has announced their own governance token, Splintershards or SPS. The teams considers the token to be part of their efforts to give ownership over the game to the players. Ownership over SPS will make players a member of a decentralized autonomous organization, or DAO. Distribution of the SPS token will start in July. Splintershards […]
Alien Worlds is looking for five council members for each of their six planets. Anybody can sign up to become a council members, but open elections will determine who will win. Council members will be part of the first decentralized autonomous organizations in Alien Worlds. It’s unknown when planet governance will happen. But explorers will […]
Decentral Games has announced that its decentralized autonomous organization (DAO) will focus on governing 400 land parcels in the virtual world of Decentraland. These lands have a total value of more than half a million dollars. Token-holders can for example vote to build art galleries or games. In December Decentral Games launched its DG governance […]
Clothing and metaverse culture company Metafactory is launching a governance token which gives the community ownership over its brand. The organization wants to reinvent the connection between physical and digital products through non-fungible tokens. Their governance token will be distributed to buyers, designers and contributors. “We are doing a 100% fair token launch. No token […]
The virtual world of Decentraland is now officially governed by a decentralized autonomous organization, which allows users to vote on all kinds of propositions. However, only landowners and people with MANA tokens in their wallet are able to vote for the future of the virtual world. Users will need to connect their wallet to obtain […]
Digital asset platform Rarible has raised an undisclosed amount of funding from blockchain investment firm Coinfund. The token platform will use the investment to develop a community-governed and blockchain-based marketplace for non-fungible tokens. These tokens can be anything ranging from game assets to art, but also festival tickets, digital insurances and other digital assets. Rarible […]
Token minting platform Rarible has announced the first steps into community governance. During their first RARI Reform (RR1) they invite the community to make development proposals about funding and community grants. In addition there are plans to reduce wash trading, which also requires community involvement. Rarible already introduced 0% fees within its marketplace. However, the […]