gm Good Contributors!👋🏼
Let's not kid ourselves, even 50% of folks in crypto think that DAOs don't work.
I'm in the 50% camp that believes, "Some DAOs don't work."
And if something's not working, there's no point in beating a dead horse.
It's more productive to roll up our sleeves and get to work.
DAOs Market Brief
Nike's 10 principles
I recently watched the movie "AIR," and the scene that focused on Nike's principles caught my attention.
After looking it up online, I couldn't help but think, "Wow! This mindset is what Good Contributors have!"
Let's go through these 10 principles that have made Nike legendary, but we'll view them through the lens of a DAO degen like me.
Our business is change
To grasp the potential of DAOs, you need to consider how the internet has shaped our lives and how Web3 will do so in the near future.
We’re on offense. All the time.
Signing Michael Jordan was a risky move. They nailed it, though.
DAOs also need to move fast and seize opportunities. Imagine if a DAO had minted 10-20 Bored Ape NFTs?
Perfect results count — not a perfect process.
Break the rules: fight the law.
The next Killer DAO might start with friends and a multi-sig wallet, far from a perfectly decentralized autonomous organization. Who needs perfection? The thrill is in building it.
As for "Break the rules: fight the law," count me in! (Fxck you Gary!)
This is as much about battle as about business.
Who should DAOs battle? Centralized structures. Don't worry; it's just a metaphor.
DAOs will improve and ultimately offer better opportunities than traditional organizations, ensuring they win the battle!
Assume nothing. - No assumptions, in both DAOs and life in general, will serve you well.
Make sure people keep their promises. - If a contributor requests a grant, there should be a mechanism to ensure they follow through on their proposal, right?
Push yourselves push others. - DAOs will succeed if ALL members contribute.
Stretch the possible. - Always explore innovative strategies to maximize DeFi's potential.
Live off the land.
Sometimes you'll work just for a "Thanks" in Discord from another crypto freak you'll never meet in person.
Your job isn’t done until the job is done.
Actually, your work isn't done until those tokens hit your wallet! 😄
Dangers
Bureaucracy.
Personal ambition.
Energy takers vs. energy givers.
Knowing our weaknesses.
Don’t get too many things on the platter.
With this principle, we mention the main issues plaguing most DAOs.
It won’t be pretty.
Getting DAOs to their ideal state will involve enduring more losses.
If we do the right things we’ll make money damn near automatic.
That's it! Nothing more to add, folks. 🤑
DAO To Check This Week 👀
Newly formed crypto group Red DAO aims to bring together members who are interested in supporting the growing digital fashion ecosystem.
Red DAO will support, purchase, archive, collect, invest in items, and digital garments in the emerging world of digital wearables and fashion.
Rise! 📈
Fall! 📉
56% of all Nouns have officially quit the DAO. Treasury is down from $48M to $21M.
Visualize 🗣
Greg Hoffman is the former Chief Marketing Officer at Nike, and the author of Emotion By Design, a book about how to find emotional ways to tell business stories and connect your ideas through creative storytelling.
Greg gave so many gems that needs to be said again, rewatched, taken in and applied in many DAOs.
Find your greatness
Every valuable DAO contributor should possess these 7 important skills.
If you don't have them already, it's a good idea to work on developing them!
Many people might say that you're wasting your time.
But, just like any athlete will tell you, before achieving success, they spent countless hours perfecting their skills with the aim of becoming the best, starting within their team, then their country, and eventually the world!
Right now, you can learn about DAOs, which is an emerging technology that will offer a lot of money and job opportunities in a few years.
Greatness is inside you!