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Other DAO applications

In this article, we survey other interesting and promising applications of DAOs
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© RMIT 2023

While DAOs are still a relatively new concept, there are already numerous interesting applications of them within the DAO ecosystem, each created to serve a specific purpose. In this module, we have discussed several types of DAO applications, but in this article, we aim to explore the remaining types of DAOs that have not yet been covered.

In this module, we have already discussed the following main types of DAO applications:

  • Investment DAOs
  • Collector DAOs
  • Protocol management DAOs
  • Grant/charity DAOs
  • Media DAOs

Let us now delve into other interesting and potentially valuable applications of DAOs that represent the following types:

  • Social DAOs
  • Service DAOs
  • Gaming DAOs

Social DAO

Social DAOs, also known as creator DAOs, are collaborative and community-driven social networking platforms designed for individuals with mutual goals and interests. These DAO-based social networking platforms can be viewed as democratic digital spaces where everyone has an equal opportunity to communicate. In addition, social/creative DAOs primarily focus on building social connections that go beyond financial goals. However, most of these platforms may not be easily accessible to everyone, as they may require individuals to own a specific amount of a token or NFT or receive a personal invitation to become a member.

Some notable examples of Social DAOs are the Board Ape Yacht Club, Developer DAO, and Friends With Benefits (FWB). The Board Ape Yacht Club requires ownership of a BAYC NFT that is linked to a unique “bored ape” profile picture as a condition of entry. This club has gained popularity among high-profile celebrities who promote it to attract similar crowds. Another well-known social/creator DAO is Developer DAO, which consists of holders of the DAO’s genesis NFTs and aims to provide a platform for other Web3 developers to collaborate on shared initiatives. Friends With Benefits is another example of a DAO with limited entry for token holders and membership provided via application. This social networking platform offers two levels of membership: full access for global members and limited access for local members. Members gain access to various events organised by the DAO community, which is full of artists and creative thinkers.

Service DAO

Service DAOs typically aim to connect professionals from various domains to collaborate on providing services and support talent acquisition. These DAOs work towards fulfilling major projects, and the income generated from these projects is added to the general asset pool of the DAO. This income can be used to compensate contributors and cover any other costs, such as administrative, infrastructural, and promotional costs. Some service DAOs conduct a screening and interview process for applicants before inviting them to join various initiatives, while others are open for anyone to join and contribute. Service DAOs can collaborate with other DAOs and blockchain protocols where specific services are required to resolve operational and managerial issues. As service DAOs are typically considered profit-making entities, they have to overcome certain legal and regulatory barriers based on the types of services they intend to provide.

A few examples of service DAOs include LexDAO, YAP DAO and HoneyDAO. LexDAO is a non-profit association that provides legal expertise to the blockchain community, resolving legal matters from the code layer of blockchain solutions. They have introduced their certification system and train legal engineers to build LexDAO certified blockchain applications. YAP DAO, on the other hand, provides public relations (PR) management and marketing support to the DeFi community. They have first initiated their work as a PR DAO to support the public relations activities of DAOHaus in 2021. To join YAP DAO, one needs to have prior experience or be interested in learning PR and crypto-related fields and make a membership pledge of 500 DAI stablecoins. HoneyDAO focuses on connecting DeFi influencers, investors, developers, and founders across the blockchain community to improve the DeFi ecosystem. They provide services such as content management, social media support, community management, infographics, beta testing, influencer access, code review, and expanding partnerships by working closely with funded projects.

Gaming DAOs

Gaming DAOs operate as transparent and open gaming platforms governed collaboratively by the gaming community itself, which may include players, developers, investors, and other relevant parties. Gaming DAOs have been developed to provide innovative Web3-based gaming experiences by integrating GameFi and DAOs to facilitate financial transactions. They have transformed the traditional governance mechanism of online gaming by embracing a rewarding system based on players’ performance. This has given rise to a new gaming economic model called play-to-earn (P2E) gaming, wherein players are fairly compensated for their contributions to the game. The gaming DAOs establish the rewards for individual players, and they can receive them in various forms such as cryptocurrencies, tokens, and NFTs.

Several examples of gaming DAOs include Merit Circle, Yield Guild Games, and Decentral Games. Merit Circle (MC) offers a loan system where players can borrow NFTs and other resources to attract players. To participate in the governance process of this DAO, one must become a community member by owning the MC token, the DAO’s governance coin. Similarly, in Yield Guild Games, players can rent NFTs for use in different on-chain games to increase participation and investment. Gaming DAOs can also be used to create new gaming experiences within the metaverse. For instance, Decentral Games is a gaming DAO that created and introduced the first poker game to the metaverse. Decentral Games is not only a gaming DAO, but also serves as a social networking and collaborative platform where like-minded individuals can socialise and make decisions regarding the future directives of the DAO within the metaverse.

© RMIT 2023
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Introduction to DAOs: Decentralised Autonomous Organisations

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