You're reading State of the DAOs, the high-signal low-noise newsletter for understanding DAOs.
gm and welcome to the State of the DAOs!
There are many ways to experience community outside of the web3 space, but perhaps there is no better distillation of what it means to be a member a community than those feelings associated with rooting for a sports team.
Last year, State of the DAOs shipped an edition devoted to the intersection of web3 and sports, exploring how groups of fans are coming together to use web3 tech to crowdsource funds to purchase sports teams. This week, we offer a follow up article that explores the fate of WAGMI United, one of the first professional sports organizations to be bought by web3 enthusiasts and powered by a decentralized decision-making model through the use of NFTs.
The takeaway may be that while web3 technology is amazing for empowering fans, it’s important to have a broad sense of an industry and how it best works. As we work to integrate web3 tech into new industries, we must remember that it’s not a replacement for tried and true methods, but a way to augment those to up everyone’s game. And that’s a win for teams, for fans, and for crypto adoption.
After catching up on WAGMI United, take a look at the TL;DR on some of the most recent DAO ecosystem takes and thought pieces, making it easy for you to cut through the noise and learn everything you need to know about the current state of the DAOs.
Contributors: BanklessDAO Writers Guild (KAF, Warrior, KingIBK, Quilia, Vi-Fi, Boluwatife, Kornekt, Trewkat, HiroKennelly, siddhearta)
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Game7 is excited to launch Summon, our novel DAO governance platform.
Summon is a community LiveOps tool that takes governance to the next level by making it easy for DAOs to measure the contributions of their members, and reward them in ways that go beyond money.
How it works: Each community member mints a Soulbound NFT that evolves as the member contributes to the community, making the NFT upgradeable and unique. As each contributor completes quests and tasks, they earn experience points (XP), which help them move up in rank and unlock features and rewards in real time.
By tracking, measuring, and rewarding contributions, Summon provides decision-making capabilities to those who invest time and effort into the community, as opposed to only those who contribute capital.