What's a DAO, anyway?
DAOs are software arrangements that use incentives to trustlessly and permissionlessly coordinate economic activity in a network of rational, self-interested agents. Put simply: it's software that financially incentivizes people to do stuff.
DAOs solve the problems of effective coordination, cognition, and collaboration which has traditionally been solved by ‘the firm’. The difference is that it does so without requiring any central authority. That means thousands of people, all over the world, can build companies together over the internet without needing to trust (or even know) one another.
Who are DAOs for?
DAOs aren't just for DeFi and NFT projects - they're for anyone that wants increased flexibility in their organization. In the Colony Community, you'll find many examples of DAO builders utilizing Colony to solve a variety of real-world organizational challenges. If you can dream it, you can DAO it.
Join Colony's Discord community to connect with other DAO builders and learn more about how to grow your online organization.