Blockchain technology isn’t just about cryptocurrencies and NFTs. Imagine becoming a business owner through the blockchain! Imagine owning HISTORY!
Well, my crypto companion …
So far, this crypto education has revealed many exciting prospects in the digital world of decentralized finance.
Indeed, a simple cryptocurrency route seems like the shortest way to profit from blockchain technology … but cryptocurrencies are really just the tip of the iceberg.
Many people are talking about NFTs (Non-Fungible Tokens). This is a digital asset that is unique to the buyer.
Yes, it seems strange to own digitally something that can be easily copied by right-clicking, but these things are generating billions. A single digital art piece sold for over $ 30 million.
That’s why GaryVee, the crypto expert I mentioned a few days ago, is huge in NFTs. He says they are the future of technology, and he may be right … but he may be wrong too.
Why do I say one of the most prominent entrepreneurs could be wrong about NFTs?
After a little research, I think there are bigger opportunities than NFTs and cryptocurrencies …
And it is blockchain technology that opens the door.
Already saturated with the acronyms in this area, I’m about to throw you three more letters. DAO..
What is DAO? It stands for “Decentralized Autonomous Organization” and is basically a large online group of strangers, with or without anonymous members. In most cases, DAO members often do not know each other and are organized into aggregates, specifically centralized leadership and non-hierarchical aggregates.
These DAO groups usually have articles of association and interactions are governed by blockchain technology, including both financial transactions and member voting.
Basically, DAO allows you to start something similar to a listed company. The company can use its assets to buy things or create a business of their choice as long as they vote.
When I started researching crypto and blockchain, I came across this idea, but I wasn’t ready to explore it yet.
I’ve read that DAO offered to buy a building, which would have made a big difference in real estate ownership. Efforts to succeed will avoid the need for specific insurance due to the fact that buyers do not need to raise money for mortgages.
But DAO even has a cooler opportunity, which was done at the Sotheby’s auction last week.
A new way to buy incredible things
November 18thNS, DAO united to buy one of the 13 rare copies of the US Constitution that was being auctioned.
DAO is made up of 17,000 donors, who did everything online, including bidding for their work.
The Constitution DAO was launched by a core group of 35 people to “put the Constitution in the hands of the people,” as stated on the group’s website.
DAO is an agency that is willing to bear the costs of document containment and protection, and has planned to publish the Constitution (one of 500 copies in the first print from 1787) for free.
This is the first time DAO has bid on Sotheby’s, one of the best auction houses on the planet, usually reserved for the elite and ultra-rich.
Each member of DAO donated a different amount, but when everything was said and done, the group bid a whopping $ 40 million.
However, they were overpriced by anonymous collectors who surpassed the Constitution DAO by $ 3.2 million.
No one was as surprised as Sotheby’s itself, as the auction house estimates that the piece could only make about $ 22 million.
DAO organizers said they would return the money — except for crypto transaction fees — and everyone would go home without the poor.
That said, DAO’s attempts were like participants for these online groups. And some say that these types of communities will be the future of business on the Internet.
And they may be right.
DAOs can be much more profitable than cryptography and NFTs. Actually own It is part of something and opens up all sorts of profit opportunities.
Do you know how exciting something like this is?
We are living in the dawn of a whole new era of business, and even the democratic process itself can change when everything is said and implemented.
Man, I’m glad I started this trip. We have all kinds of useful information.
Again, I hope you enjoy these as much as I do …
Thank you for visiting.
“If new technology hits you, if you’re not part of the steamroller, you’re part of the road.” – Stewart Brand
How Blockchain Is Changing Business Source link How Blockchain Is Changing Business