Startup Funding Espresso – DAOs Are Like Gaming Communities

DAOs Are Like Gaming Communities

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations are like gaming communities.

A gaming community forms around a mission or challenge.  

There’s a software platform that brings the participants together.

There are rules about how the game is played.

Those who play well receive rewards for their participation such as avatars which is a form of recognition or tokens which is a form of compensation.

The software platform prescribes the rules in advance and uses software to execute those rules automatically.

DAOs take the gaming concept and apply it to any group with a mission or purpose.

Any group of participants who want to pursue a common goal can create a DAO.

They can engage on the software platform to further the proposed goal.

DAOs are decentralized in that there’s no one person or group that controls everything.

DAOs are autonomous in that they use software platforms to encode the rules of the engagement without gatekeepers or intermediaries.

Participants can vote on how the DAO grows and evolves over time.

DAOs can be applied to social, political, or business objectives.

The lessons learned from building gaming communities apply to those building DAO communities.

Consider using a DAO to engage others to achieve a goal.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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