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Spend any amount of time on the internet these days and you’re likely to across acronyms that you’ve never heard of.
NFT? BTC? And the latest one you are starting to see more of; DAO.
All the cool kids who secretly know how to make money on the internet know the DAO meaning. But do you?
DAOs are not secret, nor do they limit access. Quite the contrary, actually. DAOs are organizations built around a particular project related to cryptocurrency and blockchain technology.
They are intended to create something new, something of value, and make the rewards available to everyone who wants in. And that’s exactly what Muse DAO is doing.
Want to learn more about what a DAO is, and more specifically, what Muse DAO is and why it matters to you? We cover everything you need to know down below.
What Is DAO?
DAO stands for decentralized autonomous organization. They are essentially a set of blockchain protocols, governed by smart contracts, to create something of value for the public.
Because a DAO is powered by smart contracts, certain actions take place automatically, without the need for a centralized authority, overwatch, or middleman.
DAOs are established around specific projects in the cryptocurrency space to provide security and forward motion to the project.
In a sense, a DAO is like a company. But instead of various departments, managers, and owners who dictate what happens in the company, it’s the pre-programming in the DAO that handles this.
It’s much more efficient, as action can take place automatically, rather than moving from meeting to meeting and dealing with all the red tape that comes with traditional organizations.
What Is Muse DAO?
So what is Muse DAO in particular? Muse DAO exists to eventually become a decentralized bank, that allows the public to participate in the funding of new films.
The idea is that independent filmmakers who have a vision for an original movie can come to Muse DAO, pitch their project, and receive the funding they need from the DAO community.
Those who hold the tokens that support the organization have voting power to determine which projects enter the funding stage. It gives individuals a voice when it comes to cinematography, as they get to vote (and fund) movies that they want to see, as opposed to what Hollywood wants to put out.
Once a movie is released, a portion of the revenue it generates comes back to Muse DAO to replenish the vaults and fund future films. Muse is working with Governor DAO on the launching of their token in order to raise the initial funds needed to launch the project.
Muse DAO has the potential of bridging the gap between creative filmmakers, and creative members of the audience, erasing a separation that should never have existed in the first place.
Embrace the DAO
If you like movies and wish you could share your input on the movies you want to see, and the movies that should never be made, that Muse DAO is a project that you should keep your eyes on.
Along with the creative benefits, those who support the project have the potential to see some impressive gains as well. However, you should always do your own research, and only invest what you are willing to lose. Though hopefully, it never comes to that.
Looking for more exciting projects in the tech and crypto space? Visit our blog now to keep reading.
