Since the worldwide adoption of the blockchain ownership economy in 2021, a lot of niches have benefited in a lot of areas, especially NFTs and DAOs.
According to @coopahtroopa, “DAOs are internet communities with a shared cap table and bank account.”
There have been a lot of success stories and great achievements in the DAO space that seem to have a new DAO pop up each hour of the day.
The question now becomes, how can you find and join a useful DAO?
Types of DAOs
There are various categories of DAOs which include:
Investment DAOs: these DAO communities pool funds together to invest in acquiring digital assets (e.g NFTs, digital lands) as a community. For example, the PleasrDao acquires rare NFT art pieces for its members in a shared ownership model.
Media DAOs are those that allow its community to produce content collaboratively. An example is Odyssey which provides web3 education for free for members.
Social DAOs are organized around social interests. For example, Friends with Benefits with its $FWB token is a social club that offers real life private events and benefits for its members.
Commerce DAOs allow community members to co-own e-commerce businesses through their membership tokens. For example, E1337 is a luxury apparel brand owned by 1337 members. This is a sure way of reducing business risks and increasing success.
Other types are listed below:
Finding Your Tribe
Before you run fast and make mistakes in the DAO space, it is important to remember that DAOs are social communities with people of shared interest.
As a result, the first step in joining a perfect DAO is in understanding the shared vision that binds the DAO together.
Take for example, Klima DAO. Klima DAO is fighting carbon use by driving its price with rewards for non usage. This would be a perfect DAO for someone passionate about climate change reforms to join.
Beyond the yield and opportunities to earn from the DAO token, it would be a fulfilling contribution to the growth and development of the community.
Reading The Charter
Once you’ve found a tribe that seems to drive your interest, the next would be to visit their website to read their Charter or any documentation that helps you understand their short and long term vision as well as the process of engagement.
What you could be looking at here is the roadmap, vision and how the DAO helps you fulfil your shared interest.
After you’ve read this, the next thing is to join the community.
Joining The DAO Community
Becoming a part of a DAO today is one of the easiest processes as they are mostly permissionless.
Depending on the DAO you just joined and its member capacity, it can be pretty overwhelming at the beginning.
For most people, they mistake getting involved as being all chatty and roaming the whole group at once but this isn’t best practice.
The reason most DOA allow this easy access with limited governance participation is for potential members to ensure the DAO is truly a place for them or not.
While very underrated, observation is one of the smart ways to get involved at the beginning. Simple activities like an introduction and a question on where to get started could also be useful.
Either ways, do not try to catch up with the pace you met the DAO until you’ve understood what’s going on and where you can best fit in.
Becoming An Active Participant
After a recommended 1-3 days of observation and navigation, it is now time to start getting involved.
Depending on your skillset, resources and network, you would have started finding ways to contribute to the DAO and in many cases, get paid for your contribution.
Just about any soft leadership skills or tech skills would be of benefit to a DAO. A list of some are developers, content writers, community managers etc.
DAOs are so beneficial that a lot of people are earning a comfortable living working full time in DAOs that they love and have ownership in.
Becoming A Full DAO Participant
Most DAOs allow ordinary participants to contribute to the DOA. However, to have your proposal voted for and to possess ownership, one needs to fulfill the DAO membership requirement which is mostly purchasing the DAO token.
Depending on the blockchain network and token, once you purchase it, you are now a full time member and can start making useful contributions that can be used as proof of work anywhere.
The Future Of DAOs
Unlike the traditional system of running a business with a centralized government, just about anyone can have a say in a DAO network.
This is what makes DAO a truly remarkable and disruptive technology in opportunity distribution.
Just about anyone can own a DAO today and we could see this in the community-driven Shiba DAO inspired by the viral meme coin Shiba Inu token.
According to Future, “it’s likely that the average person will not work for a company in the future. Instead, people will earn income in non-traditional ways by taking actions such as playing games, learning new skills, creating art, or curating content in a decentralized network”.
These are some of the opportunities that DAO provides as it continues to evolve and make progress.
Join our #daoseries to learn everything about DAOs and how they’re changing the future of work.