Learn about DAOs from @_kinjalbshah in this episode of On The Other Side by @chaserchapman
There's plenty of insights to be gained here π‘ππ
@_kinjalbshah @chaserchapman Background
πΉ Joined the space 4 years ago when she was with @Fidelity
πΉ Had to figure out which use cases to be prioritized
πΉ Fell in love with the ecosystem
πΉ Joined @blockchaincap
πΉ Co-Founded @KomorebiFund, a DAO focused on investing in female & non-binary founders
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund The next 5 years
πΉ Bucket it into 2 categories:
1οΈβ£ What can people do with NFTs?
2οΈβ£ DAO landscape
πΉ Unsure whether DAOs will go mainstream
πΉ DAOs are opt-in communities; you get what you put in
πΉ Trend is to have 1000s of small communities
πΉ DAO onboarding is β¬οΈ challenging
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund Accessibility of DAOs
πΉ Accessibility exists on a spectrum. Some DAOs just require a purchase of the token while others have a higher barrier to entry
πΉ Trying to figure out how to scale DAOs by doing experiments π§βπ¬
πΉ Unsure whether social scalability can be solved soon
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund Feasibility of on-chain reputation
πΉ 50 years ago, career reputation was based on your resume and ppl vouching for you
πΉ Today, freelancers have a portfolio of their contributions to various projects/DAOs
πΉ This reputation is carried along with them wherever they go
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund Value creation
πΉ DAOs are thinking about monetizing content rather than putting it out for free
πΉ Wrote a piece with @Cooopahtroopa about tokens representing ownership of a community
πΉ When people contribute to DAOs, they are helping the value of the community go up
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa On Micro-Economies
πΉ Wrote a piece with Cooper Turley about the Rise of Micro-economies
πΉ Popular concept from early 2000s where the internet enables a 1000 true fans that can create a sustainable biz for one person π¨βπ©βπ¦βπ¦
πΉ Fans feel attachment to a given cause or mission
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa πΉ Starting to see such small communities scale when it comes to value creation
πΉ Instead of organizing around geography or a LLC, people are organizing around a digital state/city where anybody can participate in π¨βπ©βπ¦βπ¦π
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa Creator Middle Class
πΉ Idea that people want to become influencers
πΉ Only top 1% of them get to that point
πΉ The rest belongs to the Creator Middle Class
πΉ Evolving from wanting millions of followers to a small group of passionate followers
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa Value of holding a token
πΉ Governance token price is determined by the market
πΉ Strong token = strong hodlers
πΉ Large DeFi DAOs have billions in treasuries
πΉ What is critical is having something to govern and a strong community with conviction in the DAO πͺ
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa Differentiating btw Building & Governing
πΉ @kaiynne made a post differentiating the two
πΉ Kinjal offered a slightly different framework:
1οΈβ£ Financial health of a DAO
2οΈβ£ Social health of a DAO
πΉ Building products β‘οΈ financial health
πΉ Building community β‘οΈ social health
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa @kaiynne πΉ Doesn't think you can separate the two from each other
πΉ More like a funnel/hierarchy where everything is governance, but not everyone should be deciding everything in governance
πΉ Have to make sure to get the right person to make those decisions
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa @kaiynne Best Practices in DAOs
πΉ Different communities have different objectives, but still, there might be some standardization
πΉ Still in the experimental phase and we would not know what's coming in the future
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa @kaiynne Time horizon for DAO adoption
πΉ Hype curve β‘οΈ things slowing down β‘οΈ infrastructure gets built β‘οΈ rising back up again
πΉ Will differ across different types of DAOs
πΉ DeFi DAOs have reached a level of maturity
πΉ Expecting social tokens to be the next breakout category π
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa @kaiynne Infrastructure
DAOs:
πΉ Big missing piece is a DIY DApp that can integrate the entire tech stack in 5 - 10 mins and allow the user to user a bundle of tools and services
πΉ Consolidating Discord, Telegram, Snapshot, and Discourse into one
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa @kaiynne NFTs:
πΉ A wallet that is super accessible
πΉ Progress is being made in this area, but there's still more infrastructure to come
πΉ On the backend, one has to ask:
1οΈβ£ Who is hosting the NFT?
2οΈβ£ Who is owning the IP?
3οΈβ£ What does the price history look like
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa @kaiynne Onboarding more users or catering to crypto natives?
πΉ Many valid points of view. Heard from a few founders that they pick one path and then double down on it
πΉ Concerning the former, it's about making sure that users are not confused and can purchase things easily
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa @kaiynne πΉ Concerning the latter, it is okay for your product to be more clunky or make your users jump through more hoops. The user is willing and excited to appreciate the nuances of what you are building in crypto
πΉ Both approaches are valid. Important to know which you are choosing
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa @kaiynne Links
Substack post: thereadingape.substack.com/p/on-the-otherβ¦
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa @kaiynne Links
Podcast: open.spotify.com/episode/17uyCDβ¦
Thanks to @chaserchapman for this insightful interview!
@_kinjalbshah @chaserchapman @Fidelity @blockchaincap @KomorebiFund @Cooopahtroopa @kaiynne Like our work?
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Apes alone weak π¦π
Apes together strongπ¦π¦π¦πͺπͺπͺ
Stay strong, apes π¦πͺ
~ End Thread
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