What's a DAO?

DAO Decentralized Autonomous Organization.

Decentralised: Control of an activity or organization to several local offices or authorities rather than one single one. Essentially whatever your controlling isn’t controlled by 1 organisation. A DAO is powered by holders, every holder is issued voting rights to which they vote on the future on the project. A DAO allows anyone with and/or a share holding in a project to pitch their idea to the community and potentially receive funding from The DAO. Anyone with DAO tokens could vote on plans, and would then receive rewards if the projects turned a profit. The whole idea of a DAO is it works like a corporation without any executive board - owners and the community are brought together to work towards a similar goal. In the world of NFT’s some DAO’s allow members ownership of a bluechip NFT with invested DAO funds in hopes it will appreciate in value and they can re-distribute the earnings. DAO’s have also let NFT owners to vote on the future of a project and it’s distribution of funds. E.X, members join a DAO and put in .2 eth each. We buy a BAYC, the BAYC is now the communities NFT and is owned by the Community DAO. If we buy it at 100ETH, and it goes to 200E when we sell, the 100E profit will be distributed across the initial DAO investors.