-A decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community organized around a specific set of rules enforced on a blockchain

-There is no way for users to communicate through the blockchain, so they need something like Discord or Clubhouse

-One example is when someone named Bob wanted to buy the US constitution. A community didn’t want him to own it, so that community formed a DAO to raise enough funds to buy it (this example does have a lot of flow up questions, like which person would actually physically keep it? Also, where does the voting come into play? But what does make sense is the “stake” part, since people now will be able to earn money on this investment if someone else buts the constitution for a higher price). More on the ConstitutionDAO can be found here: https://nftevening.com/us-constitution-rare-copy-to-be-acquired-by-constitutiondao/

-One key distinction between people donating to something like Kickstarter is that with a DAO, people have a stake in something (ie. investing in something). Kickstarter you get something back

-Another example is say a community wanted a movie funded. There would be participants that would have a stake. They may, want to make certain decisions, like whether or not brad Pitt or Ryan Reynolds should be the star. People’s votes are directly proportional to their stake. If people don’t like the outcome, they can pull out (but then if the movie is successful, then they won’t be able to reap the benefits of their would have been investment)

-One other interesting thing is bitcoin and ethereum THEMSELVES are DAO (people enter into agreements to buy and sell the cryptocurrency according to a set of terms (dealing with each other’s private / public keys and smart contracts), and everything is tracked on the Bitcoin blockchain). (I guess the voting part might be that )

-other notes: Platforms that allows the average user to become rich (Mark mentioned a platform that would allow DOAs to be seemingly created for everyday things)

-Website that explains DAO on a high level: https://cointelegraph.com/ethereum-for-beginners/what-is-a-decentralized-autonomous-organization-and-how-does-a-dao-work

-Future reading for DAO and NFTs: https://nftevening.com/what-is-a-dao-and-how-does-it-relate-to-nfts/