From CryptoKitties in 2017 to NBA Top Shot during this spring’s first big market surge, Dapper Labs has been a major force in bringing NFTs to a wider audience. Now, as the firm launches new NFT projects on its Flow blockchain and raises funding, it’s turning its attention towards another potentially sizable crypto opportunity: DAOs.
Today, the firm revealed exclusively to Decrypt that it has created a new business unit, called Dapper Collectives, which will focus on DAOs. To jumpstart that process, Dapper Labs has acquired Brud, a startup focused on community building and unique forms of storytelling.
DAOs, or decentralized autonomous organizations, are a hot topic in the crypto world of late. Essentially, they’re online communities empowered by ownership stakes—typically in the form of tokens—that can take nearly any focus, including funding investments, social interactions, or crypto project governance. Even Decrypt is building a media DAO.
Due to their flat structures, advocates believe that DAOs can shake up traditional corporate models and keep value within the communities that create it. However, the tools to operate such organizations are early and still developing, plus users must be pretty crypto-savvy and typically must hold a considerable stake of tokens to participate.