The blockchain industry has inspired many terrific ideas. DAO (decentralised autonomous organisations) is one among them.
DAO can be defined as a community-led entity with no central authority. DAOs are all about smart contracts. They are crypto-native groups that form around a common purpose, often involving them pooling capital to invest according to a specific objective/mandate.
DAO is believed to be the most suitable organisational structure for blockchain foundations and projects. Here, every investor has voting power (the number of DAO tokens determines one’s voting power, though). Unlike modern organisations where power plays and conflicts are a norm, here investors don’t have to deal with such things in a DAO.
There are mainly eight forms of DAOs: investment DAOs, media DAOs, social DAOs, protocol DAOs, grant DAOs, collector DAOs, service DAOs and DAO Operating System.
Recently, many blockchain projects, including DeFi operators, launched DAOs. There are several Asia-focused DAOs, too (although it is hard to identify a DAO by its geographical location as it is a decentralised entity).
Below is a list of Asia-focused DAOs. This is not a comprehensive list, and if you know any new DAOs focussing on this region, feel free to email us the names.
GuildFi
GuildFi aims to create an ecosystem connecting the metaverse’s intricate jigsaws. It develops a Web3 infrastructure to connect games, NFTs, and communities to maximise players’ benefits and enable interoperability across the metaverse.
With several Web3 games being unveiled, players and enthusiasts cannot easily navigate and dabble in them. Players face high startup costs for joining new play-to-earn games, and scholarship funds are fragmented. Furthermore, players’ efforts are siloed within a game, hampering their earning potential and defying the maximal possibilities of the metaverse.
GuildFi envisions a future where these intricate jigsaws are interlinked into an ecosystem. The firm serves as an infrastructure to onboard, connect, and add value to players, guilds, games, and investors alike.
In September, GuildFi announced the completion of a US$6 million seed round of financing, co-led by DeFiance Capital and South Korean early-stage VC firm Hashed.
ZIG DAO (Zignaly)
ZIG DAO is a DAO launched by Zignaly, an expert-managed social investing marketplace based in Singapore. Zignaly recently announced its foray into DeFi with the launch of ZIG DAO.
With ZIG DAO, Zignaly unlocks the power of its platform and community to extend the range of Web3 investments available to include crypto investing without the constraint of centralised exchanges, NFTs, metaverse real estate, DeFi staking and LPs.
According to the company, community-driven governance has always been at the forefront of its strategy. With the DAO, the firm aims to empower the ZIG token holders with their say in project governance.
Also Read: Zignaly’s DAO aims to remove boundaries from your crypto investment portfolio
Combining new DeFi features with a community-driven roadmap will enable new forms of social value exchanges between people, groups and organisations (large and small). It will empower self-formed hedge funds, decentralised marketplaces, and crypto & Web3 investment consulting.
“Imagine creating your own hedge fund with friends. ZIG DAO allows that. Also, it enables you to participate in a decentralised marketplace curated by expert traders, fund managers, and crypto investors with transparent reputation stats and track records. Plus, people can collaborate freely around a passive investing model where both sides are incentivised to share the profits,” says Zignaly Founder Bart Bordallo.
Bartolome has set a growth target of US$10 billion in total value locked (TVL) and 100 million+ monthly transactions by Q4 2023. The ZIG.DAO, utilising the ZIG token, will generate US$3 billion or 30 per cent in returns from the targeted TVL annually.
In March, Zignally raised US$50 million in funding from Luxembourg-based GEM Global.
Yield Guild Games SEA
Led by CEO and co-founder Evan Spytma and co-founders Dan Wang and Irene Umar, YGG SEA is an official sub-DAO of YGG, which launched as a decentralised autonomous organisation in July 2021. YGG SEA leverages the parent’s infrastructure and assets to serve communities within the region to join the metaverse through localised investment, education and on-the-ground services.
So far, YGG SEA claims to have helped more than 2,500 players and investors in the region to generate additional revenue streams, including over 600 in Thailand. The regional guild plans to increase the customer base to about 10,000 by 2022.
In December, the Philippine company announced raising US$15 million over two funding rounds. The seed round, which took place in August, was led by the parent company and Infinity Ventures Crypto. The additional funding, which came in November, was led by Crypto.com Capital, Animoca Brands, MindWorks Ventures, Poloniex, Jump Capital and Sembrani Kiqani by BRI Ventures.
Sky Mavis (Axie Infinity)
Sky Mavis was founded in early 2018 by Aleksander Leonard Larsen, Nguyễn Thành Trung, Đoàn Minh Tú, Hồ Sỹ Việt Anh and Jeffrey Samuel Kim Zirlin. It is the creator of Axie Infinity, a popular NFT-based play-to-earn (P2E) game where players breed, battle, and trade digital pets called Axie.
NFT-based P2E games are decentralised, meaning that the players own the in-game assets they purchase and can generate real-world rewards for their in-game activities. Axie Infinity says it has helped create income-generating opportunities for underserved people worldwide; 25 per cent of players are unbanked, and 50 per cent have not previously used cryptocurrencies.
Also Read: The way of the DAO could be the future of work
Axie Infinity has amassed players worldwide, with more than 1.8 million daily active users logging into the platform in August. It claims to have achieved US$33 million in everyday transactions, for a total volume of over US$2 billion.
In April, Binance led a US$150 million funding round for Sky Mavis, which has used the funds to reimburse user funds affected by the Ronin Validator Hack.
ARC Community
ARC is a members-only community aiming to bring this diverse group of individuals together for co-creation, play, and growth. ARC is where one can access a diverse network of individuals with Asian roots and form new connections in an open, reciprocal space.
Through the ARC app, members can connect and engage with community members and enrich themselves by exchanging perspectives on the platform. As members, they’ll also enjoy a range of experiences and perks in collaboration with our partner merchants.
The membership also allows one to access the ARC app, where you’ll make new connections with the community and exclusive content programming co-created and led by community members. Members can also access in-app experiences that enable co-creation, play, growth, lifestyle bonuses, and partnered merchandise.
IreneDAO
IreneDAO is a global grassroots movement launched by social media icon and SO-COL co-founder Irene Zhao. By creating her NFT collection, IreneDAO, she intends to prove that online creators could get paid directly for their content.
The DAO focuses on revolutionising the creator economy with simple to earn, empowering humankind by utilising web3 tools. It also has a mission to make meaningful donations to help the children and women in need and support minorities and women-led projects.
SO-COL is a web3 company that Irene Zhao and Benjamin Tang founded. IreneDAO was created by SO-COL as a ‘proof of concept’ as the first creator fan community.
ELYSIA
ELYSIA is a blockchain project specialising in real estate tokenisation and securitisation. It will be the first organisation in Asia to be registered as a DAO LLC in Wyoming, USA.
ELYSIA has put the utmost effort into building a decentralised system and set the newly-established DAO as an important milestone moving towards a legitimate decentralised project.
StakerDAO
StakerDAO is a governance protocol run by a community of blockchain and finance enthusiasts who make governance decisions for building cross-chain, decentralised financial assets compliantly.
StakerDAO’s first financial product, Blend (BLND), will launch on Algorand, with plans for additional DeFi products in coming months.
Also Read: The Shark Tank of Web3: How this DAO is bridging the funding gap for women founders
BLND, available today via CoinList as a synthetic ERC20 token and shortly as an Algorand ASA token, tracks a governed basket of Proof-of-Stake (PoS) tokens and offers an easy way to go long on the best PoS networks.
With a single BLND ASA token, qualified individuals can instantly participate in Algorand, Tezos, and Cosmos. BLND provides both price exposure to these blockchain projects and exposure to the staking rewards these networks generate. More information is available at www.blendtoken.com for qualified participants.
In Q1 2021, StakerDAO launched STKR Governance 2.0 and turned all governance decisions over to its community.
Alpha Venture DAO
Alpha Venture DAO is a community of daring individuals who aspire to shape the future of Web3 and expand the Web3 ecosystem together with a network of Web3 industry leaders and Alpha community.
Alpha Venture DAO aims to be a massive ecosystem of decentralised applications that capture value regardless of which chains or sectors dominate Web3 in the future.
Alpha Venture DAO and ALPHA will be the gateway for the community to contribute meaningfully and “truly” own high-quality Web3 projects.
Blockchain Space
BlockchainSpace enables PlayToEarn Guilds to scale in the metaverse.
Guild owners currently lack a starting point and relevant tools to successfully operate their respective “businesses.” It helps save guild operators time, provides valuable data and metrics, and gives guilds access to capital thus allowing them to focus on scaling and performance.
It also allows guild owners to measure player performance, onboard scholars & vet applications, automated cashout, provides forecasts and insights, in-depth game analytics across Guilds, and provides access to financial solutions, among others.
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Copyright: perfectpixelshunter
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