Why should you pay attention to DAOs?
The world of Web3 is exploding with new ideas. Amongst the most popular ones is the concept of DAOs. Everyone has their nascent understanding of a DAO, and here is mine. DAOs (decentralized autonomous organization) are groups of people with similar interests who share a treasury.
When the term DAO we first coined Around 2016, Vitalik Buterin dismissed it and considered it a trend that would go away. Later in 2021, he admitted he could not have been more wrong. Revolutionary tech like DAOs is hard to dismiss because it helps to solve very critical problems of communities management such as -
1. Incentivising the right person.
2. Accountability
DAOs help establish precise incentive mechanisms for members to act in a manner that is beneficial to all. There are many types of DAOs -
DAOs for Providing Liquidity — MakerDAO, Sushi, Uniswap
DAOs for Angel investing — The LAO, NeptureDAO,
DAOs for Hiring — RaidGuild, Crypto list.
DAOs for Social — Friends with Benefits, Seed Club, Republic of Ocean.
I am very bullish on DAOs that focus on bringing people together. Their goal is to build a community from the bottom up. Nothing is more powerful than a group of high intent individuals coming together to solve for the common good. If you bring people together and help them connect with the right individual, you solve for all the other types of DAOs. Someone might think that they need capital. But all they needed all this along was a few tweaks in their business model to turn to profitability. That is the power of social DAOs.
One such revolutionary DAO is the Republic of Ocean. ROO operates at the intersection of audio, blockchain, community & Data.
Audio -
Audio content consumption has been at its all-time highs. People are more engaged in podcasts, music, and other forms of audio medium. New and innovative creators are coming in every day making it a very interesting space to be in.
Blockchain -
The term has been around last 13 years. In 2020, The Bullrun made it a highlight of the mainstream again. Blockchain’s true potential is getting realized after mainstream attention.
Community -
Community building has been around since the days of hunter-gatherer days. But having a healthy, engaging community thrive and expand has been a goal of every community manager.
Data -
Data is all around us, It helps us solve questions with numbers. Data plays a vital role in today’s decision-making. Utilizing the data in the right direction and securing the data is the key here.
Here is an example of how this intersection can be useful
Adam is a Podcaster. He has been at it for years and amassed a loyal & engaging set of listeners. He loves the community he has built. Adam wants to leverage this community to bring the best experience to his listener. Adam joins the Republic of Ocean to meet a blockchain dev, a community builder, and a data analyst. Now Adam can start a side project with his newfound friends to share his NFT collection of the Best audio clips, His community was using his clips as meme materials, and now they can support their favorite creator by owning those clips.
The Data guy analyzes his numbers and suggests that Adam should create his tokens. The numbers state that the community will buy it. Later, Adam speaks with his community manager friend about how he should plan the launch of the token
This is one of the many ways Social DAOs can bring interesting people together and make great things possible. Social DAOs are the future of bringing meaningful synergies together. Join the Republic of Ocean and make your web3 success story.
