Can the integration of DAOs and NFTs lead to the emergence of Web3?

Think of a world like this, ruled by a system of governance in an open space, not ruled by a board of directors and its affiliates.

In essence, DAOs are the only online organizations that do not have a centralized culture and operate under the chain rules put in place in smart contracts.

DAOs allow the following decision-making processes and approvals by election.

Looks like the wording was inspired by the new version, Web3, but in fact DAOs have been around for years.

In the meantime, DAOs have managed to gain market share in the crypto space, and many well-known DeFi providers such as UniSwap are managed by DAOs.

DAO perfectly matches the utopian decentralized Internet that Web3.0 enthusiasts dream of. No intermediary or membership was taken care of.

DAO's business vision as a member is also recognized by the NFT., the latter became the "next-gen" in crypto this year before DAO. NFT smashed Google search data and became Collins Dictionary's Best Word of the Year.

At the same time, in the first half of 2021, NFT's sales reached 2.5 billion yuan. As of December, NFT-related smart contracts were worth at least $ 26.9 billion.

Archives, digital animations, music, memes, and even Twitter are all saved in NFT and sold for millions of dollars. In the ever-changing world of digitization, we offer a virtual marketplace for artists and producers.

The popularity of NFTs this year is driven by the art collection in the field of cryptography. Companies like BAYC, CryptoKitty, and OpenSea all contributed to the traffic. CornThe popularity of NFTs is largely due to their ability to provide security and public proof of ownership.

Recently, some DAOs have been put in place for the same purpose of buying NFTs, like buying the rare Wu-Tang Clan CD for $ 4 million and raising $ 20 million in DAO to buy NFTs from 'US Constitution. ', but they do. yet he Yet.

NFT and DAO are now designed to be a couple. This led to the simultaneous growth of the two industries.But how can DAOS help with the management and development of NFTs? Can both find their place in Web 3?

To answer these questions, we need to study how these two organizations are affected and how ecosystems change.

NFTs are digital assets and DAOs are a way to manage organizations by crossing over. Artists can turn their creations into blockchain-based assets to be more secure and proven, butDAO has supported the public ownership and management of these assets..

DAOs also help innovators build communities and crowds, invest, support, and market. These activities are supported by future income.

To achieve this, writers must sell their NFTs to DAO, who will convert them into members or parts of NFT. While the NFT strives to support and reward the DAO, token membership ensures that DAO members have a say in governance.

They then vote to determine the fate of the NFT and the benefits of the token price increase. Due to inconsistencies, inconsistencies and scarcity of NFTs, NFTs and tokens used in trading products may increase in value.

While helping artists, DAOs can also provide channels for investing in high quality NFT projects.

One such work, PleasrDAO, claims to be a collection of "illegal rulers, early NFT writers, and digital artists," who fundraise to purchase high performance NFTs co-sponsored and owned by DAO members.

Edward Snowden announced on Twitter that PleasrDAO $ 5.5 million at NFT auction. It's not just a show, it's also a show. All eyes are on Darkness.

Likewise, FlaygoDAO enables the company to develop and implement NFT design investment strategies for its members through FlaygoDAO, which "aims to explore new investments in assets as a blockchain technology utility. . "

The deal further strengthens NFT's position in DeFi and allows members to vote by borrowing or using NFT assets as liabilities on other DeFi platforms on a pro rata basis.

Another DAO takes a long time to buy the Chicago Bulls. DAO sells NFTs in the form of tickets for Discord servers and management tokens.

The goal of this project is to transform sports team members from billionaires into enthusiasts. Krause Homes closed NFT for sale last month after raising more than $ 4 million.

Another important place in the field of NFT is music, where many artists, large and small, transform their music into specialized digital devices. MODA DAO goes one step further and turns these digital tokens into a management tool that allows performers to manage their contracts with honesty.

In this way, the middlemen of traditional streaming services can be eliminated. The deal was recently made around a whopping $ 5 million, including donations from artists like Deadmau5 and Richie Hawtin.

Although the adoption of DAOs has led to uncertainty due to increased awareness of DAOs and the implementation of control measures, the security threat remains a major challenge.The recent BadgerDAO protocol protests explain this, costing investors around $ 120 million.

In fact, the first export of DAO, simply called DAO, was a commercial enterprise in the industry as a capital investment. It has been hacked in the past causing a loss of $ 70 million, the equivalent of 15% of all ETH devices at the time, and also causing problems on the Ethereum network.

Obviously, DAO attacks that can be used to inflict negative gains are particularly distressing for investors involved in increasing profits. The longevity of smart contracts and the risks associated with management for many investors make these concerns even more important.

Despite the shortcomings,The DAO-NFT duo has undoubtedly contributed to the birth of a new economy of creators. One is to follow unique characters and shared members, allowing multiple developers and users to join in and step in while cutting out the middleman.

As the world prepares to move to the new level of the Internet, this membership structure will allow entrepreneurs of all skill levels to participate in the design and operation of the Internet.

To ensure that writing and writing needs don't become an adoption issue, activities like UpStream Collective have sprung up to simplify CAD design and make Web3's vision a reality. .