The Decentralized Autonomous Organisation (DAO) is a concept born from the decentralized nature of cryptocurrencies. The absence of a central institution or sole entity has allowed for the safekeeping of blockchain-held personal and corporate data. The DAO acts as a computer-automated venture capital fund, eliminating the need for human-controlled management structures that often lack complete trust and confidence between parties. In a DAO, investors’ funds are automatically managed and allocated through smart contracts on the blockchain, reducing human error or monetary manipulation. Thus, a DAO represents the ultimate goal of decentralization, eliminating the need for sole leading institutions and human error in governance.
NeoWorlder is a unique project that goes beyond the average decentralized experience, creating an immersive platform that allows users to experience a whole different lifestyle remotely. Ultimately, NeoWorlder’s virtual simulation will become a self-sufficient DAO, allowing users to explore the history, culture, and lifestyle of a unique past civilization in a virtual space that is engaging and immersive. With 4,880 plots of land, owners of these Lootian districts can discover the unique story of the land and the inhabitants that once resided there.
NeoWorlder offers real opportunities for generating revenue through its virtual representation of Lootverse. Soon, landowners will be able to build unique properties on their land, rent them out, and open businesses, such as Lootnance, the first business in the universe.
In a DAO, investors receive cryptographic tokens in exchange for their investment, giving them relative voting rights in decisions related to how the DAO will be run. NeoWorlder’s governance is built on this idea on a macro level, but on the micro level, its governance is thematically unique. The theme is Parliamentary, with The Parliament enforcing member governance in Lootverse and allowing users to govern this newly discovered world from Earth. Users can join the Cabinet, Upper House, Lower House, as a Councillor, or a Law Lord, with each type of member carrying a variety of voting weights. The Parliament is currently located in the Arena, but soon it will be moved to The Government, the 7th site in the simulation, which will serve as the official gateway into Lootverse.
NeoWorlder’s tokenomics is another aspect where the project strives to create something unique. The way Credits, Tickets, and BUN correlate and are utilized throughout the DAO sets NeoWorlder apart from other platforms containing an NFT Marketplace. Tickets, in particular, will be an essential part of NeoWorlder’s journey towards maximum decentralization, as they’re exchangeable for a seat in the member governance group that can decide on changing the parameters of the ecosystem.
NeoWorlder is currently a centralized, self-funded experimental business with an innovative exit strategy for becoming decentralized. The project’s architecture was built in a highly modular fashion from the onset, allowing for its gradual dismantling to the point where it will be predominantly governed by a series of smart contracts. Although NeoWorlder was never a project seeking to raise capital, a DAO is its final goal. The showcase of an alternate world can inspire others towards a decentralized future, in which the project’s core technology, Talos, will power use-cases in the real world.
