Quote:
Originally Posted by maniac_73
Good questions!
With a DAO, you "buy in" with the token thats offered which may be in the form of a coin or even an NFT. This gives you voting power 1 token = 1 vote.
There is no "owner" as everyone who owns tokens are considered owners and every proposal is voted on with the results recorded on the smart contract on the blockchain which are transparent and unalterable. The group decides by vote what to buy and when to sell and how the profits would be paid out to coin holders. The group also decides how to procure and where to store the item through proposals and votes. The idea is that proposals are put forward and they are voted on by all the token holders.
To put it simply, this is the exact model Collectible(the fractional ownership platform) is currently using but instead of the owners of Collectible running the show, this is the cooperative effort of all the participants deciding what to do using the transparency of the blockchain.
Some more info on hows DAO's work
https://consensys.net/blog/blockchai...-do-they-work/ |
It may work for some but this is just not the way I see me going. I value real live things. Have you ever tried to flip a Non Fungible Token?
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