💡Technology

What are the technological basics?

We are using a blockchain, smart contracts, NFTs, tokens, and special tooling to create a democratic ownership group (a decentralized autonomous organization or “DAO”) that will manage the collective major decisions of the project.

What's a DAO

The term DAO stands for “decentralized autonomous organization.” DAOs are typically built on the blockchain using smart contracts; they allow participants to make collective decisions regarding governance, operations, and leadership. Functionally, DAOs are basically online cooperatives. If we are successful in purchasing a division, the holders would govern the team through a DAO, which would take the legal form of a cooperative. Your membership in the cooperative makes you an owner of the division and, thus, able to participate in governance. The DAO is regulated by smart contracts which ensure every member is subject to the same rules.

Are DAOs safe?

Yes, multiple DAOs have responsibly raised billions of dollars. And, since they are on the blockchain, the effort is transparent for all to see. Unlike traditional private businesses that operate with closed books, DAOs operate in the open. Plus, our DAO will be audited by third-parties to ensure security.