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How do DAOs and NFTs work together?

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DAOs are decentralized organizations formed to accomplish a common mission through community governance rather than a central authority. These range from investor and protocol DAOs to philanthropic, service and DeFi DAOs.

As a strong pillar of Web3, NFTs are at the center of development in all types of DAOs, continuing to play an essential role in realizing the vision of a decentralized world.

NFTs and collectible DAOs

NFTs from well-known collections are often very expensive. Collector DAOs manage such exclusive NFT assets. To this end, they sometimes engage in art collection and monetization activities to support the blockchain art ecosystem, and other times they offer exciting investment opportunities.

fingerprint DAO, For example, creates a curated NFT art collection and acts as an incubator for new art projects. DAO’s collection includes prominent generative art NFT pieces, such as Larva Labs’ Autoglyphs and Protoglyphs, Deafbeef’s Series 0-5, and Mathcastle’s Terraform. Members decide how the DAO’s coffers should be spent to expand this collection. Membership requires 5,000 print tokens, The DAO’s governance token.

Another well-known DAO integrated into the NFT industry is Flamingo DAO which explores investment opportunities. Through fractionation of valuable NFT assets, it enables collective ownership. Flamingo DAO has 215 CryptoPunks and 22 Bored Apes NFTS in its portfolio and is now valued at $1B. It is one of the most exclusive DAOs, however, open only to accredited US investors, and new members buy in at 3,000 ETH.

DAOs, NFTs, and real-life events

Some DAOs have a strong social component because, in addition to digital gatherings, they host real-life events.

For example, Friends with Benefits is a global network of creators, makers and thinkers. The DAO operates an NFT art gallery and fosters collaboration around the NFT ecosystem through real-life events held in Paris.

bright moment, An NFT industry conglomerate, focused on real-life NFT minting. An upcoming event that will take place in Mexico City from November 14 – 21 will see more than 3,000 generative artworks minted live, along with several training sessions on generative art creation.

NFTs help fund the DAO’s mission

As a valuable asset class with many types of utility, NFTs also serve as a means of crowdfunding.

Krause House is a DAO controlled by basketball enthusiasts whose goal is to own an NBA team. To become a member, a Krause NFT ticket is required These tickets come with typical NFT utilities such as accessing Discord channels, claiming special community roles, and eligibility for airdrops and raffles. The DAO is funding its roadmap steps through the sale of these NFT tickets. During the first funding round, In this case1,000ETH raised.

Governance of NFT Marketplaces

Another area where we see DAOs and NFTs working together is the NFT marketplace.

These marketplaces typically issue their own governance tokens. For example, Rarible has RARI which empowers its holders to vote and is assigned to support new Web3 projects built on the Rarible protocol.

The SuperRare DAO has RARE as its governance token. Holders can create Super Rare Improvement Proposals (SIPs) that serve as a soft community consensus before an official vote. RARE is also used to support SuperRare collections and curation.

Both RARE and RARI are ERC-20 tokens that are fungible. Another NFT marketplace, Mintable, has a slightly different approach. Instead of ERC-20 tokens, it uses NFTs for DAO voting. Each user who buys a vote is given a unique NFT. NFT owners can then vote for future upgrades, choose which artists and collections will be featured, and decide on the platform’s fee policy.

Final Worlds

These are some of the ways that DAOs and NFTs work together to shape the future of Web3. When we think about the infinite possibilities arising from the integration of decentralized money, different types of NFTs and new token formats, we can clearly see many more applications where DAOs and NFTs exploit the best parts of each other.



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