Decentralized Autonomous Organizations (DAOs) are a novel form of internet-based organization. If you are a member of any internet communities, it's worth taking some time to learn about them.
DAOs differentiate themselves from the online communities we're used to (ie: subreddits, Twitter sub-graphs, Facebook groups) by giving their members a built-in mechanism for pooling and deploying funds to achieve shared goals.
OpenLaw co-founder Aaron Wright provides a great one-line description of DAOs –"DAOs are subreddits with bank accounts and governance."
Cooper Turley, crypto strategy lead at Audius, provides a complimentary definition – "DAOs are internet communities with a shared cap table and bank account."
I'm excited to see what these fledgling internet communities with shared bank accounts end up funding and creating over the coming years.