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Can the link between DAOs, NFTs accelerate the adoption of Web3?
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ambcrypto.comImagine a world that instead of being controlled by closed-door board room meetings and backroom lobbying, is operated by distributed governance on open-source networks. This vision is what blockchain-based decentralized autonomous organizations (DAO) are hoping to fulfill by creating platforms that replace traditional hierarchies and are governed by token holders.
In essence, DAOs are purely Internet-native organizations that lack a central leadership and are instead, operated through on-chain rules solidified in a smart contract. This allows for a bottom-up decision-making process whose consensus is achieved through voting. This part is where cryptocurrencies step in and act as governance tokens that allow holders to partake in all major
Read more on ambcrypto.comAbout this in other media
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