gm Good Contributors!👋
I know, it's been almost a month since my last post.
No worries, I wasn't MIA, I was out having a blast.
We're back in action with top-notch content about DAOs.
This week, I'll dive into the world of Decentraland DAO.
The future is inevitable, how early do you want to be a part of it?
DAOs Market Brief 📈
Decentraland still kicking or what? 🤔
Chances are you're already familiar with Decentraland.
These guys are like OGs of the Web3 metaverse game and still holding their own as big shots.
Some people keep saying about DCL: there's, like, nobody around and zilch to do.
But hey, don't take my word for it.
Check out this link for a dose of reality about what's shaking on the platform:
Keep in mind that as you read this the NFT market is witnessing the lowest trading volume in the past 2 years.
Chill, there's still some degens out there.
And for all those Debbie Downers claiming there's nada to do:
Ok, I'd rather play Call Of Duty or GTA too, but hey, have you seen some of games out there?
So, there you have it – Decentraland, where the action is, or isn't, depending on who you ask.
And all of this is run through a DAO?
Yep, through Decentraland DAO.
As the pioneer of a fully decentralized virtual world, Decentraland enables users to control various aspects like regulations, wearables, content, auctions, etc., through its DAO.
The Decentraland DAO encapsulates key features:
Proposal and Voting: Originating from community interactions, proposals are put forth on Snapshot for off-chain voting. MANA, NAMES, or LAND holders participate.
Smart Contracts Oversight: DAO manages core smart contracts governing LAND, Estates, wearables, etc. Changes require DAO approval.
Funding Initiatives: DAO oversees grants for diverse projects benefiting Decentraland's growth, spanning infrastructure, content, sponsorships, and more.
Community-Centric Decisions: DAO facilitates community input on policies, auctions, NFT contracts, grants, wearables, and Security Council selection.
Binding Actions and Proposals: DAO handles binding changes and governance proposals, with a tri-stage process involving polls and ratification thresholds.
Multisig Wallets and Committees: Operational control rests with DAO Committee and Security Advisory Board, ensuring process integrity.
Snapshot and IPFS Integration: Snapshot for off-chain voting uses IPFS for storage, enabling blockchain enactment of approved proposals.
Transparency and Communication: Forum and Discord are hubs for discussions, proposals, and updates, shaping platform evolution.
Token Prerequisites: MANA, NAMES, or LAND tokens grant participation rights, with voting power tied to token balance.
You can read the full Docs here.
“But DAOs are not profitable”
Surely you´ve read the above statement on Twitter.
It's like saying that ships don't float down the “Titanic”.
Decentraland DAO secured a 10-year vesting contract, starting Feb 19, 2020, for 222,000,000 MANA. This ongoing contract adds to the DAO's fund as MANA vests every second. Details: You can view the DAO’s vesting contract here .
The current state of the DAO treasury can be viewed on the Transparency page of the Governance dApp.
The DAO also has other sources of income:
A 2.5% transaction fee within the Decentraland Marketplacs on primary market commissions go to the DAO
The OpenSea Marketplace also receives a 2.5% transaction fee for sales of LAND, Estates, Names, and wearables, part of which is transferred to the DAO.
IMHO, I think this could be a good business model.
Ok, if you take a look at their treasury you might be surprised – it's gone from over $800M to around $60M.
Bro, it's a bear market, so what can they do? 😅
Don't you think they need Good Contributors? ⬇️
Start Contributing in Decentraland DAO
Low DAO participation often results from the difficulty of making meaningful contributions and the overwhelming onboarding process.
The Decentraland DAO has effectively managed these challenges, offering insights for other DAOs.
Explore further at their GOVERNANCE.
One of the Dopest DAOs Out There 💫
To me, the Metaverse and videogame's destiny rests on robust DAOs and decentralized communities worldwide, fueling novel digital ventures.
And in this world, Decentraland stands tall, even if it's not always on your radar.
Decentraland is totally riding the true-blue DAO governance wave, where the users are the captains of the ship. This is one of the main differences vs The Sandbox.
The big question: Should companies go full decentralized or chill with the traditional? 🤔 (Do you want me to delve into this topic in future posts? Leave a comment and let me know.)
In a nutshell? Decentraland isn't just a dot on the map. It's all about decentralized swagger, big bucks, and endless creativity.
Visualize 📚
This week's tip: Since we've been chatting about Decentraland DAO, why not tune in to their August Townhall? It's an easy-peasy way to dip your toes into contributing.
Started From the Bottom! 🌠
Here's a little personal trip down memory lane.
Feels like just a blink ago, I was shooting the breeze with a user called Astoneta on Decentraland Discord.
He hooks me up with her land, and in return, we're talking about sharing the profits.
Crypto was going nuts. MANA was on a wild ride to the moon.
It sounded exciting! 🤯
Then the bear market slammed in, bringing a whole bunch of head-scratching moments.
I felt genuinely saddened that the community I had established (over 90 talented members) had completely fallen apart.
That's why I've been making an effort to maintain at least an active Twitter account.
Also collaborating with BanklessDAO.
Top-tier stuff, folks. Running a web3 community ain't a walk in the park. It's leveled up my investing smarts and upped my game as a DAO player.
My master plan? Turn the Anti Secret Society into a full-blown DAO, tapping into the Decentraland DAO perks and other cool ones.
Wanna get in on this action? Leave a comment or slide into my DMs and let's talk!