What is a DAO
A Decentralized Autonomous Organization is a business written on a blockchain. The code is written using smart contracts (see: What Is A Smart Contract?) or rules that the organization as whole agree upon. This eliminates some human involvement. Business proposals are made by a committee to the community of token holders. The community of token holders will vote on the business proposals.
This takes away the central authority that profits and takes the economic rents that drains the society and gives it to the community token holders instead.
Well Known DAOs
Wyoming Law
Wyoming became the first state to legally recognize DAOs and grant them the same rights as limited liability companies. This went into effect on July 1, 2021 (see: Wyoming Secretary of State).
It is predicted that most companies will all become DAOs in five years.
How Is Our DAO Different?
The Rarest DAO will organize to purchase rare assets.
These assets are be fractionalized and sold as NFTs (see: What is an NFT?). The DAO will earn from the sale of these assets, and from the royalties they earn.
The Rarest DAO will have custody of the physical assets and place them into a museum for the public to see. Any profits that the museum earn will go to the DAO as well. But it does not stop there.
The Rarest DAO will also have a Reality Show that documents the journey of acquiring these rare assets. Any profits the show earns the DAO will also earn from.
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