Is DAO tend to bring revolution in NFT Industry

Posted by alicejenifferze on March 28th, 2022

NFTs might arrive late but it has undergone astonizing growth. The current market cap of NFT is nearly 41 billion and there is no sign of fading. Thus the intervention of DAO in the NFT industry will swift the NFT industry to the new milestone.

 DAO offers transparency through distributed decision-making in the NFT marketplace. it provides rights to all the users of the platform to decide themself for the platform. It widely helps in eliminating the barriers and hurdles in the decision - making process. The controlling power is given wholly to the users of the platform rather than the CEO of the platfrom. 

In Decentralized Autonomous Organization, the regulatary is distributed evenly to all the users of the platform. Meaning that each and every user of the platform owns voting rights in decision making which promotes transparency and equality.

 Thus, many NFT Marketplaces out there are looking for possibilities to come under DAO and looking for DAO enabled NFT Marketplace Development. 

Here is the list of DAO that enterprises can choose for their business.

Operating Systems:To build and create standalone platform

Protocol DAOs: Special DAO to implement protocol changes

Investment DAOs: Investment DAO is designed for DeFi applications like Staking and pooling

Service DAOs: This kind of DAO is built for individuals and other operations

Collector DAOs:Collector DAOs are concerned for fractional as well as complete NFT ownership

Social DAOs: For the kind of social networking and other platforms

Media DAOs: It is for news aggregator based upon consumer\'s interest.

Citation: DAO Enabled NFT Marketplace Development