DAOs (also known as decentralized autonomous organizations) can change the way people monetize experience and transact a value across. At least this DAO contributor, believes so.
In an interview with VentureBeat Chase Chapman said decentralized communities give people a tool to own parts of the value they are creating:
By allowing people to own this value, they have the right incentives to go and create.
What is more important is that DAOs — as a part of the Web 3.0 concept — can democratize the power of the community.
Ryan Gill, the founder of Open Meta DAO, says that the new web puts the communities first, meaning that the institutions will have to catch up with the trend. Gill notes:
For us to have a closed metaverse, we’d have to give it away.
And what makes that concept unbreakable and incorruptible is the nature of open-source software itself. Gill emphasizes that no one can stop these communities "from doing what they're going to do."
As To The Moon earlier reported, DAOs became the convenient way for communities to collectively raise funds for initiatives.
For instance, a group of enthusiasts called BlockbusterDAO aims to raise $5 million through a sale of non-fungible tokens (NFTs) to buy out the rights to the business franchise from Dish Network, a satellite television provider.
Thus, BlockbusterDAO plans to raise the funds through the Blockbuster DAO NFT collection, where each token will be priced at 0.13 ETH (~$500).