Crypto Decentralized Autonomous Organizations (DAO) seem to me to be little more than Initial Coin Offerings (ICO).
After bitcoin came around, there have been different ways to release and advertise new coins on the market for people to buy. First there was the ICO phase. Thousands and thousands of coins (commonly referred to as shitcoins) that have no purpose other than for people to buy them. Then came the NFT phase, which are really just coins that people associate with images. Now it seems the hot thing are DAOs. It looks like the main purpose of a DAO is to issue a coin, which them comes with “Voting Rights” that I doubt anyone will care about. So basically just another ICO.
Am I thinking about this right?