Thing is, daos have potential intrinsic value in the way they decentralize governance.
An NFT would only be valuable if it constituted an enforceable contract over some share of future Revenue from use of the object of the contract. Right now, that's not true, thus NFTs are not valuable, cuz they don't earn anything (unless you find a bigger sucker -- but that's speculation, not investing)
Lots of people want to hop on the crypto bandwagon and use it for everything...it's better to use crypto for the things it is really good at: immutability, availability (maybe), nonrepudiation definitely. Confidentiality? Not really...
It seems perfectly viable to distribute revenues to DAO NFT holders - why do think that's not possible now? Are you saying the contract is not legally enforceable? It seems straightforward to have the DAO distribute any incoming tokens proportionally to NFT holders.
I believe that GP is talking about real world objects, like an NFT of a song, or a piece of art. The NFT doesn't enable you to enforce distribution of revenues in the real world.
You don't need NFTs to distribute anything amongst holders. You can use normal tokens for that already. And tokens have the advantage that they can be devided into various amounts which afaik you can't do with NFTs. In theory you could create one NFT for every unit of share but tokens are much more flexible.
Totally agree with the article though, DAOs are starting to shine and it wouldn’t surprise me if those who went down the nft rabbit hole found their way into daos. we’re gonna see more things like community record labels running this way. There’s a ui/ux curve that needs working out (across all of crypto) but it’s really nice to be finally getting these things we imagined 5 years ago.
The description of the 2016 DAO event isn't entirely accurate. Given the huge sums involved ($18 billion at current prices), hopefully the real story will be reported one day.
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[ 3.1 ms ] story [ 27.0 ms ] threadAn NFT would only be valuable if it constituted an enforceable contract over some share of future Revenue from use of the object of the contract. Right now, that's not true, thus NFTs are not valuable, cuz they don't earn anything (unless you find a bigger sucker -- but that's speculation, not investing)
Lots of people want to hop on the crypto bandwagon and use it for everything...it's better to use crypto for the things it is really good at: immutability, availability (maybe), nonrepudiation definitely. Confidentiality? Not really...
Also https://daohaus.club/ has made it really easy to deploy a moloch dao for $1.
Totally agree with the article though, DAOs are starting to shine and it wouldn’t surprise me if those who went down the nft rabbit hole found their way into daos. we’re gonna see more things like community record labels running this way. There’s a ui/ux curve that needs working out (across all of crypto) but it’s really nice to be finally getting these things we imagined 5 years ago.