What I mean by this is that not every DAO will survive the future and some will be abandoned with their members and tokenized spawns for better opportunities, it’s all about adapting to the needs of the market if you’re looking to ride the DAO wave.
Some DAOs like BitDAO are future proof and that’s essential for continuation of operations, they’re making sure to stay ahead by investing into Web 3.0 and supporting web developers that are leaving their Web 2.0 jobs to join in developing Web 3.0, also by investing in the DeFi platform through investing in education, art and gaming by launching individuals DAOs to attend to each subject matter and expanding upon it, that made them grow in such a short time to become the largest treasury dethroning UniSwap recently.
Due to their effort in diversifying their treasury, in comparison UniSwap which decided to stay 99% Uni and not do much with their treasury missing out on adapting further in the market. BitDAO for instance is submitting their legacy for now as the builder DAO.
Not every autonomous entity will grow, some will become obsolete in the ever growing market and will find no future uses unless they adapt and innovate their technology and ecosystem to constantly be better.
3 thoughts on “Decentralized autonomous organizations are on the rise but most of them are of no use”
99.99% of DAOs, NFTs and Crypto’s in general will fail.
That’s true of most industries, maybe not to the same degree. But people will attempt to make money, aquire competition, come up with new ideas etc
Web3 is the future literally. I think that if BitDAO is going to be successful only if it keeps on investing in this space. if it can keep on growing this space, then it’s got a huge chance to grow in my opinion