Darkside of the DAO
How can decentralized autonomous organizations (DAOs) build digital communities with intentionality? What does it look like to manage contributions within the flat hierarchy of a DAO? Which areas of the economy do DAOs best serve?
Today we’re tackling the power of community building, why we do it, and how the web3 ecosystem facilitates DAO creation and maintenance.
But first, a little background. A DAO is a community of people who come together without a central leader. They’re built on a blockchain using smart contracts, and members often buy their way in by purchasing a governance token specifically for the DAO.
DAO tokens allow members to vote on decisions around how the pool of money is spent and managed. Members can join worldwide and often communicate with each other on Discord channels.
Julia Lipton, the founder of DAO Master, joins us to give us insight into the making of DAO Masters and share her experience building strong digital communities. Starting with a plan to research the top twenty DAO tools, DAO Masters has become an exceptional resource for the ecosystem.
In this episode, Julia and I talk about why many of us have a complicated relationship with money, the future of community building within DAOs, the pros and cons of decentralization, why DAOs tend to attract a global audience, the essential elements of a sustainable community, and more.
Introducing Julia Lipton & DAO Masters
How Julia transitioned from Web2 to Web3 in her businesses
Confronting our relationship with money
Growing beyond the savings-focused family tradition
The future of community building within DAOs
The powerful effects of ownership
How DAOs best serve the economy
The accidental DAO
Managing member contributions
Pros and cons of decentralization
Differentiating between backers and contributors
Shifting the focus away from retention
Why DAOs tend to attract a global audience
The most exciting yet terrifying aspect of DAOs
The pressure of running a DAO
Embracing a trial and error mindset
Key terms used in the show
Smart Contracts: Digital one-of-one agreements
NFT: Non-fungible tokens; An entry on a blockchain establishing who has ownership of a digital item
PFP: Profile picture; the term typically is used for images that can be bought as part of an NFT series and used on social media profiles
Connect with Julia Lipton & DAO Masters
DAO Masters Website https://www.daomasters.xyz/
DAO Masters on Twitter https://twitter.com/daomastersxyz
DAO Masters on Discord https://discord.com/invite/RgvbrKH7Da
Julia Lipton on Twitter https://twitter.com/JuliaLipton
Connect with Eve Wealth DAO
Go from crypto-curious to crypto-confident with the DeFi Curious Course
Check out our social channels at @evewealthhq on:
Eve Wealth Website https://www.evewealth.com/