DAO: shaping how we connect, collaborate and create art.
One of the roles of artists is to bring new awareness to the viewer, as art is a means of knowledge and approach to the world.
Today, web3 introduces a new way of considering the economy and the world of business, thanks in particular to DAOs.
What is a DAO?
DAO is the acronym for Decentralized Autonomous Organization.
With a DAO, we will substitute hierarchical — vertical — human organizations with collaborative — horizontal — human organizations.
A DAO refers to a community made up of a multitude of participants (for example, users on a blockchain) that operates according to governance rules written in smart contracts, without any human intervention and in a decentralized manner.
Membership in a true decentralized autonomous organization is materialized by the ownership of a token. This token often allows for proposals for improving the relevant protocol to be made. Thus, we often speak of governance tokens.
In theory, all decisions regarding the protocol can be made on-chain by token holders, thanks to an algorithm chosen by the founders, and defining both the conditions for the validity of the vote and its quorum and majority requirements.
In practice, the coordination of proposals and votes is mostly done off-chain through social networks such as Telegram or Discord.
What are the advantages of DAOs?
- The autonomy of the structure is the main advantage of a DAO. This greatly facilitates the process and avoids unnecessary frictions.
- Transparency is also an important advantage. Since everything is recorded on the blockchain, a DAO is transparent and public. Everyone can consult the decisions made and the transactions carried out by smart contracts.
- A DAO is open to all, and there is no discrimination in entry for people wishing to be part of the project.
The way forward.
In conclusion, we can say that the DAO is the ultimate representation of what web3 can be. As smart contracts are executed automatically once one or more conditions are met, there is no central authority involved. All the rules governing the DAO and its financial transactions are recorded on the blockchain.
It’s also worth noting that most DeFi (decentralized finance) protocols have a DAO to lead them. Therefore, DAOs have the potential to become the norm for decentralized web3.
As a powerful tool to connect creative communities who share a common goal, the DAO of ART CAN DIE will play a key role in broadening participation and transform the way we connect, collaborate, and create art.
BORN TO SAVE ART
ART CAN DIE is a dynamic art production house powered by a web3 ecosystem. We connect artists, collectors and enthusiasts to collectively produce physical and digital art.
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*This content is for educational purposes only and does not constitute financial advice.