Friends with Benefits: DAO

DAOs(Decentralized Autonomous Organizations) are the future of social organizations without any hierarchies where people with common interests can participate and interact. All the bylaws and working of DAO is predefined in smart contracts that cannot be modified by anyone once deployed on the blockchain. DAO will enable people to become part of the community in real terms by having common incentive to work towards common goal and mission. Nowadays, many communities are using blockchain to tokenized their community. One such famous DAO is Friends with benefits.

FWB
FWB(Friends with Benefits) is a community of web3 creators, thinkers and artists. They believe in a web3 world, where data and payments are fluid and controlled by the creators. The community believes that blockchain technology is very nascent and evolving at very fast pace. Community regularly discuss, exchange and execute multiple ideas to explore new use cases of web3 which could impact the life of millions and ultimately empower them.

How to become part of community
The community have launched their own token $FWB. There are a total of 1 Million $FWB tokens. Users need to buy and hold a minimum of 75 $FWB tokens to become part of the DAO. At the time of writing 1 FWB token is worth $106. This means that user need to invest about $8000 to become part. This ensures that people are literally invested for the common good of community.It also ensures that as community scale, there is no compromise with the quality. Currently, users can buy $FWB tokens from uniswap by swapping ether.

Benefits
Many famous web3 artists, creators and entrepreneurs like Li Jin are part of FWB community. By being member of community users get access to discord server where they can directly interact and engage with them. Users can learn about blockchain, NFTS and other web3 tools by enrolling in courses run byfamous names. Community releases newsletters and other gated content which could be accessed only by members or paying in $FWB tokens. Community also offers rewards to its members who bring engagement in form of FWB tokens that further increases value. They also organize events in different cities where like minded people get together and exchange ideas related to web3.
Apart from this, community also releases NFTs for auctions and all proceedings from the sale are sent to treasury for betterment of community.

Each day new DAOs are coming and becoming part of web3 by tokenizing their communities and eventually distributing power to its members. Few famous examples include $Whale, $Pleasr DAO. I will write more about them in new blogs.

Please join our discord server to learn more about Blockchain and exciting updates happening in the blockchain world.
Link to join discord server: https://discord.gg/nwqqqc5VdG