The key focus for the non-fungible space has always been decentralization and ownership. Before the gigantic surge of NFT users trying to make money with NFTs, the primary goal was different. NFTs were all about taking control away from the middlemen, and giving more control to the masses! And, this is where the NFT DAO comes into play!
What is an NFT DAO?
An NFT DAO is a Non-Fungible Token Decentralized Autonomous Organization – a community-led group governed by cryptocurrencies or NFTs. These organizations grant members voting rights in a decentralized and autonomous manner. Since the rules of the DAOs use blockchain technology, anyone can look up a DAO’s code and records.
Also, there is NO central entity to sway the decisions of the organization. All decisions come through the voting of the community. There is NO hierarchy at all – purely decentralized governance. The members of the NFT DAO are not bound together by any form of contract. The only thing that brings them together is the common goal or incentive of the community. Usually, this could be the betterment of their NFT project, making a profit, or even collecting more NFTs.
Furthermore, all the rules and purposes of the NFT DAOs exist in their smart contract. So, if you’re looking into truly becoming a part of an organization, make sure to check their smart contracts. But, which one should you join? Check out the list below for our 5 top picks of NFT DAO projects!
THE 5 TOP NFT DAO PROJECTS
But, before you become a part of a DAO, you need to have basic knowledge of NFTs! In fact, being a part of an NFT DAO requires that you have a pretty decent amount of knowledge of both NFTs and Web3 technologies. This is because DAOs are the greatest representatives of what non-fungible tokens really represent. And, if you want to be a part of these organizations through NFTs, you have to know more!
So, click on the button below to check out our best NFT beginner’s guide! Or, click here to join our FREE hub of NFT guides that has everything you could ever need. Take matters into your own hands and start learning about NFTs in the easiest way possible!
#1 Tamadoge
First, we’ve got an upcoming NFT DAO that has a LOT to offer – Tamadoge. This is another addition to the Doge community in the Tamaverse. But, unline the Dogecoin, this DAO won’t rely on the influence of NFT celebrities. Instead, the Tamadoge provides a multi-utility token and play-to-earn platforms.
- Players compete in the P2E platform to earn TAMA tokens
- Users create, breed, and trade pet dogs – aka the Tamadoge pets
- The goal is to develop these Doge pets to earn points on the monthly leaderboard
#2 Battle Infinity
Next, we’ve got Battle Infinity – another NFT DAO that combines P2E gaming and Web3 technology. This DAO is currently developing a metaverse-based game called Battle Arena to provide a gaming ecosystem in a virtual world.
- Battle Infinity’s Battle Arena allows users to participate in 6 different P2E games
- The utility of this DAO is the IBAT token that users need to stake to participate in Battle Stake
- 10% of the staked tokens are used for transaction fees, 50% of them are transferred into a global liquidity pool
#3 Lucky Block
And then, there’s the Lucky Block DAO – one of the top, leading crypto NFT DAO projects. It has a reputation for being one of the most exciting crypto projects of the year through crypto gaming. Users of the DAO get a chance to enter daily prizes for a chance to win MILLIONS of dollars!
- Prizes are in LBLOCK token – the DAO’s native token
- Winners are chosen through Chainlink’s transparent & accessible VRF service
- Community members become part of the project through direct communication
#4 Decentraland DAO
Also, there’s the Decentraland NFT DAO that uses a combination of free, off-chain voting for their community. This allows everyone who holds the MANA, NAMES, or LAND to participate in the decentralized autonomous organization. And, you wouldn’t have to pay any fee every time you vote or open a proposal.
- Users create proposals and vote through the platform’s governance dApp at governance.decentraland.org
- They can also use Snapshot – an off-chain voting platform – as a free way for token-holders to vote
- All the users can use the Decentraland Forum as a communication hub for the DAO – a sort of forum thread for discussions
#5 ApeCoin DAO
Finally, the last NFT DAO on this list is none other than the ApeCoin DAO. This is the Bored Ape Yacht Club cryptocurrency by Yuga Labs. So, anyone who buys ApeCoin becomes an eligible member of the ApeCoin DAO and allows users to: govern how the DAO’s treasury is spent, and vote on proposals for future projects.
- Propose ideas on anything related to projects and collaborations
- Users follow a proposal process to vote on how the DAO’s fund will be distributed
- Members use Snapshot for voting on proposal drafts, giving feedback, and discussing ideas