Nicho Book
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Web3 & DAO?

The internet is a very interesting creature, and I would describe it as a creature because it's constantly evolving. The first was Web 1 (1990–2000), the standard web page. Then came Web 2 (2000-2010), which gave us social media and Amazon. Now we are on Web 3 (2010-present) which gives us NFTs and Decentralized Autonomous Organizations (DAOs). - Ajeir Cunningham
DAO stands for Decentralized Autonomous Organization, as derived from the core ideology of blockchain (co-creation, co-construction, co-governance, and shared collaborative behaviors spontaneously generated by those groups reaching a consensus). It is a subsidiary product resulting from the success of blockchain addressing the lack of trust between people. Not only is DAO an evolution of the organizational form of a company, also regarded as a milestone for the revolutionary development of human collaboration. Effectively, it is a form taken by the application of blockchain technology.

DAO has the following characteristics:

  1. 1.
    Distributed and decentralized. There is neither a central node nor a hierarchical management structure in DAO..
  2. 2.
    Autonomous and automated. In an ideal DAO, management is coded, procedural, and automated. "Code is law"
  3. 3.
    Organized and ordered, and reliant on smart contracts, with openness and transparency shown by its operating rules, the responsibilities and rights of participants, and the reward and punishment mechanisms.
  4. 4.
    Intelligence and tokenization. The bottom layer of DAO entails all the infrastructure supporting DAO and its derivative applications-Internet basic protocols, blockchain technology, artificial intelligence, big data, Internet of Things, etc. Technical support, using digital, intelligent, on-chain, and off-chain collaborative governance as methods, steer away from the traditional bureaucratic and human management methods for the intelligent management of the organization.
DAO is effectively is a form of application for blockchain technology, not only an evolutionary version of the corporate organizational form but also a revolutionary evolution in the history of human collaboration.

Why DAO?

Why are we creating a DAO for Nicho NFT? How does it relate to DApps or blockchain projects? There are various reasons for the development of DAOs. DAOs can be traced to various scenarios, settings, and protocols. In Defi, for example, DAOs can contribute to building trust through the involvement of users in their protocol updates. From the perspective of developers, they can suggest new changes to the protocol. In order to win trust from the community, however, users are entitled to vote on whether the changes can be implemented. At present, the DAO landscape becomes more dynamic than before. It is comprised of a protocol DAO, an investment DAO, a service DAO, and a social DAO. Most importantly, it is believed that DAO is beneficial to the long-term development of the project.