What Are DAOs? (And How One DAO Turned $10M into $1B) | Forbes
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- Опубліковано 20 чер 2024
- The leaderless investing collectives known as decentralized autonomous organizations are generating a lot of eyerolls. Thanks to high flexibility and low regulation, they’ll also soon generate a lot of profits.
"This is an incredibly risky move. I don’t know if I agree with this.’’ Erick Calderon, the founder of a company named Art Blocks in a risk-oblivious field, nonfungible tokens, was nonetheless concerned. It was February 2021, and Calderon was one of 59 investors who had banded together to potentially buy a rare set of 150 popular NFTs, CryptoPunks, directly from their producer, Larva Labs.
The group, a decentralized autonomous organization (DAO) called Flamingo, had pooled $10 million and met weekly via Zoom (audio-only to protect those wanting anonymity) to figure out what to do with it. The CryptoPunk opportunity, at about four ether ($7,200 at the time) per punk, would eat 10% of that, which is partly why Calderon aired his concerns on the group’s Discord channel.
The tension got thicker when members discovered one of their own-someone going by the pseudonym “Pranksy”-had tried to front-run the deal, opening a back channel with Larva Labs to buy 150 punks for himself. In the end, Flamingo members voted to spring for the punks, which were recently valued at $30 million. As for Pranksy, he left the DAO “by mutual agreement,” telling Forbes he was “somewhat naïve [about] the DAO process.”
Keep Reading: www.forbes.com/sites/jeffkauf...
0:00 Start
0:07 What is a DAO?
0:17 How DAOs are similar to old school investment clubs
0:55 Brief history of The DAO
1:07 Growth of DAOs
1:15 How DAOs bounced back after The DAO hack
1:17 Aaron Wright + Tribute Labs
3:13 Flamingo DAO
4:00 Neon DAO
4:28 Noise DAO
4:34 Red DAO
4:49 Risks of DAOs
5:49 Tips on investing in DAOs
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Be careful of some comments and replies they are trying to scam you
Crypto going more and more mainstream when you see Forbes reporting more on it.
binance did a partnership with them recently
He had me until he used the phrase "invest in NFT's" as if that is actually a thing.
DAOs are not just for investment they can be for networking, hanging out, fair elections, and so much more
@Death whats the name of the dao?
and can I join it?
Singularity Dao 🚀💰
SingularityDAO is an AI DeFi DAO - crypto indexes managed by hedge fund grade AI/ML models
Created by the greatest A.I. scientist in the world: Ben Goertzel
The first and best AI Driven Crypto Hedge Fund With ETF like baskets of Crypto Tokens! Revolutionary!!
This has been called ‘hodl 2.0’, we’ll make as much in a bear market as a bull and won’t have to make a single trade ourselves, it’ll all be traded for us using the most innovative AI models. No brainier!
you guys need to learn to read solidity and stop aping into these Jenga tower projects LMAO
@@hairystyles4212 these? We’re talking about a single project not DAOs in general (which are mostly forks of other projects). You haven’t seen any of the sdao code…
When the new talks about crypto they never give the full image in my opinion the problem is that the people talking about it aren't really into crypto
yeah, most are just greedy apes that don't care. it's a shame
In South Africa its called Stokvel
Basically crowdfunding?
imagine every single buisnees you have ever used but you can own a share of it and directly control with other investments either some or all decision, including banks essentially
@@JallyJam isn’t it sort of a mutual fund but with more risk? And no regulation? Or did I get it wrong?
Came here expecting OHM lol
I think that’s why creating an LLC with your DAO legitimatizes you really
How is investing in a DAO not an investment share (percent) and how does this differ from a security?
For accredited investors, there's an exemption. For unaccredited investors, if the raise is under $5m, then there's an exemption (provided that it's a crowd funding project).
@@Phylaras Thanks for explaining, is that all? Just curious
great info, I like Daos, I've invested in couple of them. There are bad ones and couple of good ones. Most bullish I am right now is Templar DAO HEDGE FUND. Multichain DAO with tripple reward system and stable coin bringing 17-20% APY.
Same here! There is no dao like templar dao!
Could you update your comment after Luna crashed?
Is it possible to create a voting system based on Opensea NFTs to create a system where one NFT is equivalent to one vote?
Absolutely stunned that they didn't even mention PeopleDao once.
Almost all giant media group are sold out.
Ty
I've heard DAOs being described as a company, but Jeff Kauflin better describes a DAO as an investment club.
Yeyyy well done Flamingo gang💜
RichDao is on FIRE!
Sean Evans is getting up there in the world
PLS 😔I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN...I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED... CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?.
Same here, I wonder what's wrong. My portfolio has been going down the drain while I try trading,l just don't know what I do wrong. I would appreciate if there's anyone with advice on what to do.
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
This thoughtfulness helped me a lot
I'll advice you should
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I respect art but those squiggly lines NFT 8.9 ETH worth? Something wrong here!
Gr8 due diligence recommendation
I think I wanna make i Dao
Love the DAO world, for example Crypto Island DAO, funding an island that is owned together haha!
that ones an obvious scam. But nice try to plug a rugpull
so we're not going to talk about how all the dao's that collapsed during the month of January and February, or how unstable the APY of anything over 500 % APY, People who have been in the crypto space can tell you how much money they lost on Wonderland, Olympus, and or Jade Protocol etc. Please do your research before you even think about touching a dao, join their community, have an understanding on what the developers intentions with your money and if you feel that their vision is worth investing into than do so at an amount you're willing to lose. I'm just saying this as person who's been investing in different crypto projects in the last few months.
I lost a bunch om Wonderland, jade, metaverse pro, etc :(
Lol what ? Those weren’t daos... just Ponzi economics with a new mechanism called rebasing ... makes sense why you lost funds ... you don’t do your research
those are not daos in the slightest, they just brand their algorithmic bonding jenga tower projects with dao because it sounds better
19 keys 🔑 brought me here ✊🏾 #19keys
YakDAO!!! #yaaaaaaaak
(3,3)
That’s 1 billion in funny internet money 😂
Fruit salad
Yummy yummy
"We're just a bunch of Facebook friends" 😉
🔵What is a DAO?
(A group of people with a common interest & a shared bank account)
🔵Why has there been a growth in the no. of DAOs?
(⬆️ security & tech of the system ↪ there are now > 50 firms dealing with the security issue, better digital infrastructure ➡️ creating a digital wallet, sharing it with people, allowing people to vote on investment decisions, growth of crypto + its price increase)
🔵What are the risks in DAOs?
🔸️legal risk ↪ if their tokens are classified as securities & they haven't registered with the SEC
🔸️scams & fraud ("rug pull")
DoraFactory guys nobrainer!
People are gullible…
Your right, people suck up .1% apr on their dollars when you could be making 10% plus from what your bank already does with your money
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DAO = Decentralized Autonomous Organization
The best DAOs manage to grow their value by investing in crypto, NFTs and metaverse "objects".
Sounds like a ponzi scheme with extra steps.
I looked into a lot of these daos and the one that i invested in was Templar Dao, they seriously stand out above the rest and I don't think I've ever been this excited for a project!
SDAO SDAO SDAO
Forbes is trash. You fired an employee for showing fauxchi is over paid
everyone single video about Dao have this hack in its agenda
Ms Joan is legit and her method works like magic i keep on earning every single week with her new strategies
Wow I' m just shock someone mentioned expert Mrs Joan I thought I' m the only one trading with her
She helped me recover what I lost trying to trade my self
My first investment with Mrs Joan gave me profit of over $24,000 us dollars and ever since then she has never failed to deliver and I can even say she's the most sincere broker I have known
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Sdao to the world blow up...
If they invested in NFT , then it sounds like a scam , they might have a Billion in their portafolio with the ridiculous NFT invented prices which they can’t resell
people sell nfts all the time, why would people spend millions on art pieces when you can spend 200 on a giant high definition copy? plus nfts will become important for the meta verse/ new ways to invest/ gaming
you focused on DAOs with very little real life applicability. NFT trading, and creating DAOs… why not focus on one’s innovating? i think this paints a slight misrepresentation of the space.
Legacy media spins all threatening innovations as negative
Easy…it’s called a scam/rug pull
Bullshit.....rug pulls and constant hacks....smh...🧢🧢🧢🧢
Success is not final, failure is not fatal: it is the courage to continue that counts! Meeting Mr Johnson was the turning point of my life, I earned 2BTC within 2months after so many failures when i was trying to trade by myself.
If you put money to good use, it yields more. When i mean putting it to good use, I mean investing in something that makes you profits.
Mr Johnson is my trader as well, I earned $89,560 last two months.
@@henrydavidson6535 There is no better agenda for the future than investment. As the world has developed rapidly now, there are many things you could invest in that will pay off for you for a long time to come with professional management and guidance. The stock market and the currency market are examples.
@@henrydavidson6535 it gladdened my heart when I saw you guys talking about him, he is my trader as well, I have earned 4BTC from his platform.
Mr Johnson has helped me financially, i received 3.1btc from my last investment.
don't talk about stuff you don't know or understand. investment clubs? really?
Misinformation !!!!!!
Daos are trash
Check out SingularityDAO! Their goal is to make na AI trader in the blockchain space so we don't have to worry about managing our portfolio. Invest now while it's still early!
Now that you all know about DAO's, I recommend checking out Oracle Finance DAO, they are launching soon presale begins 3/14, they payout in stable coins which is unique to other projects rewards, rebase token with plans to moon :)