What is a creator Dao?

We called this theoretical format a ‘Creator DAO.’ In this paradigm, a team or community interested in making something would implement a smart contract according to which tokens in the project would be granted to contributors, customers or investors, in return for their labor or money.

How do daos work?

In comparison to traditional companies, DAOs have a democratized organization. All the members of a DAO need to vote for any changes to be implemented, instead of implemented changes by a sole party (depending on the company’s structure). The funding of DAOs is mainly based on crowdfunding that issues tokens.

What is a DAO (decentralized autonomous organization)?

DAO stands for decentralized autonomous organization. That’s a mouthful. Sure is. What does it mean? A DAO (pronounced dow) is a new kind of organizational structure, built with blockchain technology, that is often described as a sort of crypto co-op. (Or, alternatively, as a “financial flash mob” or a “group chat with a bank account.”)

Is Dao a real thing?

Sure. The best-known DAO is probably ConstitutionDAO, a group of thousands of crypto fans who raised more than $45 million in the span of a week to bid on a rare copy of the U.S. Constitution that was being auctioned by Sotheby’s.