Curiosity DAOs
DAOs are almost everywhere today. We almost bought the Constitution, planning to buy Blockbuster brand, buying a Blimp, or even planning on buying an NBA team.
DAO stands for Decentralized Autonomous Organization. You can find great definitions online. For the sake of this blog post, think of a group of Internet strangers who flock to a chatroom (discord) and used blockchain technology to own/govern something. Some friends are even buying land using this new concept.
In the past DAOs were used to create NFTs and govern blockchain protocols (or buy a super expensive Wu Tang Clan album). I think after ConstitutionDAO everything changed. They proved we can do great things in real life. We can buy real (huge) assets and maybe someday make a dent in the universe.
There is a very specific type of DAO that could change how we learn and how we do business. Let’s call it Curiosity DAOs for now. I’ll explain the concept with a little story.
My wife and I have always been interested in the restaurant business. We like to cook and visit new restaurants. We always discuss possible margins, supply chain, pricing, and those kinds of things. I’ve learned a lot from reading Quora. But still, it might be too theoretical and might not apply to our current market.
We don’t have the time, resources, or willingness to open a restaurant. It’s just something fun to think about and that we would like to learn more about.
What if we could have a DAO that would govern a restaurant? There would be an operator, but the DAO would be like an extended board of directors. It would be like having a look under the hood of a business. For a small price, we would be part of this group and would be able to learn together.
The downside would be shared with a ton of internet strangers (or frens). The upside might not be huge (depending on how much you put), but at least we would all learn. There is always the promise that the tokens you bought might go up in value if the business goes well or the DAOs buy more restaurants.
I think about this as a real-life simulation. A multiplayer Roller Coaster Tycoon.
Another cool thing would be bounties. In DAOs you can do work for it and get reward tokens. If the DAO needs a dashboard, someone inside the group might be able to build it and get paid. What if we need accounting, a lawyer? Everyone would be excited to make the restaurant better, in the end, we all be benefited (or as we like to say wagmi).
An important reason for doing this as a DAO is that you could go international. If you would like to do this as a regular LLC, it would be super hard to onboard people outside of the US. You might get tangled between accredited investors and the SEC. With crypto that would be almost solved.
Not everything is smooth sailing. There are legal, ownership, and even ethical complexities. I feel bullish that we would be able to solve this, based on the past DAOs and how open people are to collaborating.
We could not only learn about restaurants but about a ton of different businesses. I think this is the future of business study cases.
What kind of business would you like to learn about?
If you have thoughts or this sounds fun please feel free to connect with me on Twitter (@drojasug).
