The Tiger and the Rabbit

BAdditional Thoughts on DAOs

To DAO or Not to DAO: That Is the Question

Traditional focus groups can be time‐consuming and costly, and the results may not be representative of actual user experiences because participants are paid and may not be as invested in the product as real users. However, if a company already has an active user base, it can leverage this by giving users the ability to form a DAO. This allows the community to vote on new product ideas and provide feedback throughout the entire innovation and selling process. By doing this, companies can gather feedback from an enthusiastic user base and test products across the entire life cycle before launch.

DAOs as the New Membership Club

Social clubs and subscription‐based business models have a long history, and now, with the advent of NFTs, these models can be synced with product manufacturing to create a new type of membership club. By linking a monthly product subscription to a membership, NFT holders can create a treasury, vote on products they want, and even hold their membership as a digital asset until they want to resell it. This new model offers a unique way to bring together a community and sustain operations through NFT sales and creator fees.

Steps to Building a DAO

Following are the suggested steps to build a DAO:

1. Outline a clear mission. Choose a name that is implicitly tied to the mission. The mission should be easily understandable and should bring together a community.
2. Decide on ownership. Determine ...