Social DAOs have been trending lately since the release of IreneDAO. It definitely seems interesting to combine DAOs and social media. IreneDAO promises to be much more than the simple NFT collection that it is now: it wants to be the governance DAO for a new social media platform called SO-COL, short for “Social Collectibles”.
So far, IreneDAO is a collection of 1,107 NFTs, each one offering a membership ‘pass’ for communities on SO-COL. The DAO is currently discussing what other features should be given to the NFTs, and what should be included in SO-COL.
Social DAOs are definitely a new way to navigate the social media space. A DAO’s purpose is to empower its community, enabling discussions and dialogue in a decentralized autonomous way. Unlike Reddit or even 4chan, which can be banned and flagged, here a community owns the data and the rights to all topics. This allows for a more free discussion from people around the world.
IreneDAO is not the only social DAO out there; Astro has also done a great job at empowering communities to make decisions collectively. Astro allows people to coordinate their decisions and respond as a united voice through smart contracts. Another community very similar to the Social DAO idea is Flyfish, where people who own a certain NFT are members of an exclusive restaurant club. Flyfish NFT owners can experience dinners that are exclusive to them, and perhaps over time will be able to vote on what their next dinner experience should be. Through social DAOs, communities are immune to censorship and have much fewer external influences guiding their votes and decisions.
A huge advantage of a Social DAO is that it can empower and even reward the most active members of a community. This way, a content creator or influencer can know directly who his core audience is, and respond to his core audience. Through social DAOs, one can more easily filter through the hate that is often spread through the internet. They can then respond to the people that are truly committed to the person, group, or cause. The disadvantage that this can create for influencers and celebrities is exactly what the DAO helps with in the first place: by responding only to the most committed fans, influencers and celebrities may have a tougher time reaching out to new fans, or the less committed audience. This can make a creator develop content that is too sheltered, or too much in a niche. Of course, with the development and improvement of social DAOs we are sure to find solutions and remedies for these disadvantages.
Web2.0 revolutionized the way the world interacts with one another. Conversations and relationships are truly borderless today. However, we don’t see in the background the immense amounts of censorship and propaganda that these centralized social media channels provide. Web3.0 is here to change this and will allow the users to own their data and truly have their own voice.
The social DAO is another tool on Web3.0’s belt that will aid in revolutionizing the internet as we know it. The social DAO marks the debut on how Web3.0 will start reinventing the social media ecosystem as we currently know it today. Furthermore, accessibility to social DAOs has never been easier: thanks to the Verse Network, fully functional social DAOs can be made quickly and efficiently by anyone, without any prior programming experience required! Verse offers a full suite of native DAO tools, including Framework to create and launch a DAO’s infrastructure, and Clique to manage user activity and engagement for a DAO.
About Verse
Verse is a censorship resistant, front running resistant, high performance, and interconnected cloud for next gen DAO and DeFi. It enables networks, developers and organizations to decentralize decision making effectively and scale their communities and decentralized applications.