Web3 Communities—To DAO or not to DAO?

Another iteration of companies exists in the web3 world: DAOs. As Lisa Xu writes, DAOs combine both “community-led businesses” as well as “communities as businesses,” as DAOs create an infrastructure for communities to manage internal processes, formalize tasks and ownership, and create products and experiences for both community and non-community ... See more

DAOs advance web3’s benefits by enabling decentralization. They allow developer companies to hand control of the developed networks and protocols to users, most commonly through the distribution of governance tokens. This process effectively turns the networks and protocols into public utilities that users can then build on top of, knowing that the... See more

Tokenized communities are collectively governed.This does not mean that token-holders vote on every decision in the community. Rather, it means that power in the DAO ultimately lies in the hands of token-holders.