Moving forward in the metaverse — are DAOs the future of the web?
The way our society works today, in regards to technology and progress, is mostly in the hands of the large companies. Corporations decide what will be the big push for the future. Inside of these monoliths are hundreds or thousands of workers who, through monetary incentive, are striving for the vision laid out by their leaders. The people at the top make all of the calls and receive most of the profit, much like it has been for many years. DAO’s want to change that.
What is a DAO? It stands for Decentralized Autonomous Organization, but that might sounds a bit confusing to most people. Chase Chapman, DAO contributor and entrepreneur, has an easier to understand corollary for the rest of us.
“A DAO is basically a group of people who have some sort of more formal ownership over something that they’re working on,” says Chapman. “A really good example of this from the gaming world that a lot of the ecosystem has actually borrowed from is guilds. Guilds of players who come together who come together and are working towards some sort of shared goal and often share value they create together.”
The push for DAOs utilizing Web3 is largely about public ownership. As described earlier, a corporation has very few people making the decisions for most. With a DAO, the contributors own their value and are the stewards of their part of the world.
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“How can we create a foundation upon which anyone can build,” asks Chapman. “That’s really important, and something the internet has already brought. The challenge is that it has never been easy to monetize or transact a value across, and give value to the people who were actually creating it. DAO’s allow us to do
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