DAOs will go down as the most impactful innovation in Crypto and Web 3.
Here’s a simple breakdown of what DAOs are and why you should pay attention to them:
Decentralized Autonomous Organizations are communities with a shared bank account.
They're a new way for people to work together.
Think of them as the next evolution of the LLC or Company.
So what makes DAOs different from a traditional company?
It all boils down to ownership.
Let me explain.
You may have seen this going around twitter:
Web 1: Read-only
Web 2: Read & Write
Web 3: Read, Write & Own
Sound familiar?
Think of it as phases of the internet:
Web 1: Static read-only websites.
Web 2: Read and write on social media platforms. Earn likes and followers.
Web 3: Read, write, create. Earn equity in the platforms that you create value for.