Web3 DAO for Entertainment
The range of industries we’ve served through our V Systems network spans a variety of sectors, from finance to the travel industry, from banking to entertainment.
In one of our latest projects, we have worked on building a DAO at the intersection of entertainment and entrepreneurship.
What is a DAO?
A decentralized autonomous organization (DAO) is a Web3, bottom-up entity structure.
Decentralized
DAOs have no central governing body. Its members are the governing body.
DAO members (or Token holders)
DAOs are administered through the DAOs native token. The members of a DAO own and hold the DAOs token to be able to vote and collectively decide on relevant matters. Token holders participate in the management and decision-making of an entity.
Autonomous
Because there is no central governing body, DAOs are self-regulated and self-managed by collectively casting votes to decide on relevant matters. To terminate a DAO, its members must cast a vote and agree on the decision collectively. For example, in September 2023, Gro DAO voted and agreed on its own dissolution.
Built on Web3
DAOs are built on the blockchain. All votes and activity through the DAO are publicly viewable on the chain for this is where they are recorded.
Building an Entertainment DAO
The client we worked with wanted to create a Fandom DAO with the following goal in mind: make fans’ ideas come true.
DAO infrastructure & tokenomics
- Infrastructure
With the client, we strategized and brainstormed ideas to engage the project’s community and empower its users. Based on the discussions, we created a layer-2 chain with specific functionalities and features in mind (read more below).
- Tokenomics
For our client, we drafted and implemented a tokenomics strategy to manage the supply, demand, distribution, and valuation of the DAO’s native token.
Reward system
- Loyalty system
We created a loyalty reward system to earn the DAO’s native token. Users need to perform specific actions on-chain to earn tokens, which grants governance power in the DAO.
- Engagement rewards
The more users engage with the community, the more tokens they can earn.
DAO governance system
The DAO we’ve built aims to empower community members to team up and turn community ideas into reality. Users could use their governance power to:
- Propose ideas to the community
- Vote on other members’ idea
- Get feedback on one’s own idea
- Get projects approved
- Get connected to potential funding sources and production companies
DAO roles
Based on the DAO’s functionalities, we enabled the following roles: Super Admins, Managers, Fans, and Business roles. Each role would be granted different permissions and governance powers.
Learn more about our case studies
Curious? Any questions?
Contact us at support@v.systems
About V Systems
V Systems (VSYS) is an open-source network that supports decentralized applications’ efficient and agile development. It is designed for real-world use cases, making it possible to create, send, trade, and track tangible or intangible assets in a digital form. VSYS can handle millions of transactions daily and it runs on a decentralized, open network.
Stay Connected
Twitter: https://twitter.com/VSYSCoin
Telegram: https://t.me/VSYSOfficialGroup
Medium: https://medium.com/vsystems
YouTube: https://www.youtube.com/channel/UC3tnJX2dztNKh2yJxFVSDAw
Reddit: https://www.reddit.com/r/V_SYSTEMS/
Github: https://github.com/virtualeconomy/v-systems
VSYS coin
Coinmarketcap: https://coinmarketcap.com/currencies/v-systems/
Coingecko: https://www.coingecko.com/en/coins/v-systems
Other Useful Links
VSYS Official Website: https://www.v.systems
Supernode Ranklist: https://vsysrate.com/
VSYS Blockchain Explorer: https://explorer.v.systems/
