DAOs provide blockchain organizations with a fully automated trustless type of governance that grants network members equal rights.
You might have heard of the sharing economy, an economic system in which assets or services are shared between users. But what if we say that it can also be applied to metaverse projects, and you can start getting profit from these hi-tech platforms in the near future?
The key to participating in a metaverse and earning rewards is DAOs – decentralized autonomous organizations. What are they, and how exactly do they work? Let’s find out.
What is a DAO?
A DAO, or a decentralized autonomous organization, is a fully decentralized, collectively-owned system. It was first created as a simple way to automate the decision-making process on different blockchains, and now, it’s used for many purposes, including funds allocation.
DAOs usually have a built-in treasury that can only be accessed upon the approval of all members of the group. Decisions are governed by proposals and voting to ensure everyone has a voice.
How DAOs are different from traditional organizations
DAOs are a great way to manage an organization in a decentralized yet organized way. When it comes to money, everyone wants trustless interactions and well-balanced decisions, which are guaranteed by the underlying technology. The thing is, all DAOs are run by a fully transparent smart contract, which enables democratized public governance and a shared economy.
Here’s a brief comparison of DAOs and traditional organizations:
|Flat and fully democratized organization||Hierarchical organization|
|Governance is embedded in a smart contract||Top-down management, governance is done on the C-level|
|Trustless||Trust between members needed|
|Decisions are made by means of voting of all members||Decisions are made by a sole party or a small group of members|
|The outcome of voting is implemented automatically, without a trusted intermediary||If voting is allowed, votes are tallied internally, and the outcome of voting is handled manually|
|All activity is transparent and fully public||Activity is typically private|
Overall, DAOs provide blockchain organizations with a fully automated trustless type of governance that allows all network members to participate in the decision-making process. This helps democratize the organization and grants all members equal rights.
How DAOs will influence the metaverse
One of the most efficient and illustrative applications of a DAO governance model is a metaverse. Just imagine a whole virtual world run by regular users, where all the decisions are made collectively to benefit all the members of this digital society. Doesn’t it sound like a dream? Well, with DAOs and the metaverse, it will become a reality very soon.
The metaverse potential is huge, and it would be a real loss not to benefit from it. Luckily, with a DAO model, you can easily take part in a metaverse project and optimize your investment returns.
Moreover, some of the most profitable shares to buy in India belong to a metaverse and can be easily accessed by common folk through a DAO. Which metaverse is it? Read on and find out!
How to take part in a metaverse DAO
There are many existing projects that give almost no value to their users except for entertainment. Just take a look at Decentraland, for example. It is a popular blockchain-based game, which provides a safe space for you to run around as your avatar, create digital objects and thus monetize your time in the game. But that’s it – there is no other way to earn rewards. And this is not the only metaverse built this way.
Luckily, there are some metaverse projects that aim to bring real value and help users get profit from spending time in the virtual world and completing particular activities. One of such projects is Phenom Metaverse.
Phenom Metaverse is a revolutionary virtual universe where users and their digital avatars can simultaneously interact in a 3D space. It allows you to work, increase ratings, play, study, attend events, and also earn rewards for your activity. It’s as simple as that.
Moreover, due to the specifics of the Phenom Metaverse technology and a DAO model, anyone can get profit from a metaverse from their smartphone. And by “anyone,” we mean literally any person with a smartphone, regardless of their location, age, or previous knowledge.
The metaverse has enormous potential, but Phenom Metaverse has an even bigger one. The platform has been recently released for closed beta testing and will soon be available to a wider audience, so don’t miss it!
The future of metaverse projects seems very bright, and you can easily become a part of it by joining a DAO-based metaverse. No need to buy overpriced tokens or NFTs, just make your contribution to the network and receive well-earned rewards.
One of the most popular metaverse platforms that the world will see in 2022 is Phenom Metaverse. It allows users to communicate, work, play, and earn rewards while spending time on the platform. So if you are looking for high-profit shares in India or any other country, take a closer look at Phenom Metaverse and make a smart choice!
For more information, visit – www.thephenom.io