NFTs have become the most popular trend within the crypto space and have seen millions of subscribers seeking to dive into the potential it offers. Artists and other forms of creators have been the biggest beneficiaries of NFTs and in August alone, NFTs accounted for a huge sum of the total revenue generated in the crypto space.
From CryptoKitties in 2017 to NBA Top Shot, the rise of NFTs from obscurity to mainstream adoption can be linked to the huge role played by the popular crypto firm, Dapper Labs, who made it a primary goal to spread NFT to a wider audience which, as a result, attracted several high profile actors, global organizations and sports stars.
Dapper Labs has spotted a new potential in the crypto world and is out to throw its full weight behind DAOs. Like NFTs, DAOs are bound to be the next big thing in the blockchain world, and as a result, Dapper Labs has reportedly created a new business unit to develop tools for DAOs, which stands for decentralized autonomous organizations.
Dapper to Embrace DAOs
Dapper Labs continues to launch more NFTs on its Flow blockchain as well as raise funds for it but being a visionary organization; it has now turned its attention to the full development of DAOs. Already, several steps have been taken by the firm to ensure that DAOs rise in their status in the crypto space.
Dapper Collectives, the unit assigned for the development of DAO tools, is equipped with top crypto experts who would analyze and build on the potential in this new trend. Also, to spread the adoption of DAOs and ensure a wider audience is fully aware of all it entails, Dapper Labs recently purchased a startup organization that uses a special form of storytelling for community building; Brud.
The Rise of DAOs
Decentralized autonomous organizations have taken the crypto world by storm and, of late, are compelling heads to look in their direction due to the enormous possibilities it offers. Basically, DAOs are simply online communities that are empowered by ownership stakes which take the form of tokens that can be used for various purposes such as social interactions, investment funding, or even the governance of crypto projects.
Crypto experts and advocates anticipate a revolution to be caused by DAOs due to their flat structures. It is believed that DAOs can compete fiercely with traditional corporate models and ensure that value and power lie within the community that creates it. Despite the potential it holds, there is still a lot to be done before it can take full speed. The tools needed to run such organizations are still being developed and would require users or individuals who are crypto savvy and also possess a huge amount of tokens to participate.
Dapper to Lead the Way
On its part, Dapper Labs claims it can assist in simplifying the process of building, maintaining, and participating in decentralized autonomous organizations (DAOs), whether for individual inventors or existing businesses that see a future in decentralization and the Web3.
A team of experts have been assembled to bring this work to life and would include Trevor McFedries, co-founder and CEO of Dapper Collectives, who will head the company. Trevors rich background outside of Brud explains why Dapper decided to bring him on board and have him lead this huge charge.