Startup Funding Espresso – The Challenge With DAOs

The Challenge With DAOs

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 communities with funding resources.

A DAO is a network of people coming together to pursue a joint cause. 

It’s easy to start a DAO by creating a mission statement, setting up a software platform, and inviting people to join.

Then offer tokens to incentivize users to further the mission. 

Now comes the hard part -- growing the community.

Here are some key challenges:

Growing the DAO with new members who believe in the cause.

Building out the community with processes and policies.

Setting up accountability to ensure the members adhere to those policies.

Identifying strategies to incentivize the members to continue working on it.

Similar to any community interest wanes over time. 

As the DAO grows it’s important to set up bots and other software tools to manage the community. 

Despite the use of software to execute the policies, member engagement remains the key challenge.  

In setting up your DAO consider how to maintain interest and engagement with the members. 

 

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.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
For Startups check out: https://tencapital.group/company-landing/ 
For eGuides check out: https://tencapital.group/education/ 
For upcoming Events, check out https://tencapital.group/events/  

For Feedback please contact [e-mail]   

Please follow, share, and leave a review.

Music courtesy of Bensound.