DAOs went from crypto jargon to mainstream consciousness in 2021 as they surged in number and in total funds raised.
The acronym stands for decentralized autonomous organization—internet communities that emerge around a crypto project or unified financial goal that can’t be completed by just one person. The aim could be as simple as pooling funds to buy an expensive piece of artwork. In other cases, DAOs can operate more like a members-only club, where you have to buy a specific NFT to gain access to the organization.
All of the behavior in the DAO is incentivized by a governance token, which grants holders access to exclusive events or voting power.
No matter the form and objective, DAOs are beginning to have a major impact on mainstream culture. From art to sports, crowdfunding and finance, these extremely-online crypto groups are likely here to stay.
Here are Decrypt’s picks (not ranked) for the 11 most interesting DAOs from this year.
Who: Jordan Garbis, Sasha Rosewood
What: Collective focused on buying music-based NFTs
Why: People making money from their love of music and NFTs
BeetsDAO is a 58-person community born within the larger EulerBeats NFT community that has a serious obsession with all music-based NFTs.
Like some of the other DAOs on this list, BeetsDAO is, at its core, primarily pooling funds for group investments. But on a few occasions, it’s also been responsible for commissioning new art and music.
In March, the DAO bought four rare EulerBeats Enigma NFTs, algorithmically generated audio files. A month later, the group organized…