Crypto pushes identity and gender boundaries with Simp DAOs

tech.hindustantimes.com:

In crypto, traditional markers of identity matter very little: many of the sector’s most successful participants operate entirely behind pseudonyms. Some are pushing the idea of flexible identities even further, using a combination of blockchain-based conventions and gender boundaries to build their brands and raise money.

DAOs, or decentralized autonomous organizations, are the crypto world’s version of company-like entities. These blockchain-based communities allow members to contribute their time, skills and money in return for rewards like crypto tokens, and can be a means to organize around a single goal — like purchasing a copy of the U.S. Constitution. 

So-called simp DAOs are oriented around the relationship between female influencers and their fan bases. Typical Simp DAO members, or “simps”, are men seeking to express their admiration for, and attract the attention of, the influencer to whom the group is dedicated. 

Some of these entities are created with the explicit blessing or oversight of the influencer in question. Instagram influencer Irene Zhao, an early player in the movement, co-founded a platform which aims to help people monetize their fan base through DAOs. Her own effort, IreneDao, has recorded more than $8 million in trades of its affiliated nonfungible tokens on OpenSea since launching in mid-January.

“Fans can come up with very structured advice, like how I should do the DAO, how I should position myself in the space, or whether I should still take adverts on Instagram,” Zhao told Bloomberg in an interview. 

“Without IreneDAO, I wouldn’t even have this chance to interact with them,” Zhao said, adding that moderated interactions through community platforms like Discord means she experiences less