Sports Card DAO

[maniac_73]

Originally Posted by Fred

I was wondering the same thing.

How does someone "buy in" to this? Does this require the potential investor to have a source of crypto currency to obtain the shares of the card board block chain? How does someone "cash out"? The assumption would be that the payout would be in some type of crypto currency. If, for example, you paid in Bitcoin to enter, would you get paid back in Bitcoin when you decided to sell or would the seller have to accept any crypto currency currently being traded in the crypto market, for example Dogecoin.

If played correctly, the person that starts this anonymous chain could say they own a card (which is physical) and not really own it. Is that a possibility?

Sounds like a possible card board Ponzi scheme.

Please, by all means, educate me on this - I'm an ignorant naysayer that could use a little more understanding of this potential investment vehicle.

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/