While they differ in scale, both describe the idea of a “web3-native” business.
And based on what is taking place in the crypto-marketspace, that seems to be about right.Â
While some of these businesses are smaller – more like collectives or co-ops – a number of them are big businesses that have millions or even billions of dollars in their bank account (treasury).
They work in very different ways than traditional companies as well. Instead of a traditional hierarchy of processes and rules, DAOs are much “looser.”Â
DAO members can decide what projects to fund, what decisions to make, and even how much contributors are paid.Â
And lastly, DAOs are being found across almost every industry.Â
This DAO Landscape graphic shows a bit of the complexity – and it was completed in the summer of 2021 – BEFORE DAOs really became popular.