A16z is one of the largest and most successful venture capital funds in the world. Recently, they decided to invest in PleasrDAO. So, why is this investment significant, and what does it mean for the DAO ecosystem moving forward?

TL;DR PleasrDAO is a collector DAO whose objective is to capture hallmark moments of Web3.0 history, while at the same time making an impact for the community.

PleasrDAO is a collective of artists and Defi/NFT connoisseurs who are building the world’s first high-end digital art collection which is accessible to all. Their focus is to collect digital art which represents certain impacts, movements, or causes.

Looking at PleasrDAO’s current collection, it is clear that each NFT represents a historical moment in web3.0 history, which created impact and changed the world. Each NFT has its own backstory, and the gallery feels very much like a museum exhibit.

The big issue with many NFT items is that they are out of reach for the average user. Prices for certain NFTs can be incredibly expensive, giving a high barrier to entry. PleasrDAO aims to resolve this issue, through fractionalized ownership and collective experimentation.

PleasrDAO is more than just a DAO behind a simple NFT collection. PleasrDAO tries to make an impact through its NFTs, which have made an influence on entire communities. PleasrDAO allows people to pool their funds together, allowing them to make large purchases of items that could not be made otherwise.

The collective owns the NFTs, and decisions made by the collective are done through the PleasrDAO. This allows a fair distribution of power and wealth to all PleasrDAO members. As a collective, they decide what to purchase next and what impact their NFTs should have.

In June 2021 PleasrDAO purchased the 1/1 NFT of the original picture of the Shiba Inu dog. This picture is regarded as starting the entire DOGE meme movement. The PleasrDAO bought the NFT for roughly $5.5 million (1696 ETH).

They then decided to fractionalize the NFT using fractional.art. After, each fractional piece of the NFT was made into an ERC-20 token, called $DOG. People can buy $DOG on Uniswap, allowing anyone from anywhere to own a piece of the NFT and make an impact. PleasrDAO removed the barrier to entry by making the $DOG token. $DOG owners can vote on the valuation of the original NFT through the discord channel, as well as receive certain rewards and benefits for holding the token. As of writing this article, the $DOG token has a market cap of roughly $33.5 million, according to coingecko.

The example of DOGE is just one of many examples that shows how the PleasrDAO is using its NFT collection to make an impact in the blockchain space. By using a DAO, the PleasrDAO acts as an autonomous collective, and has more purchasing power compared to a single person or entity.

PleasrDAO follows the trend of many community DAOs that have been surfacing. From ConstitutionDAO to peopleDAO, it is clear that the demand and need for community DAOs is present today. The fact that a16z decided to invest in another community DAO, after investing in the Friends with Benefits DAO, shows that even the big whales want to get involved with the community DAO ecosystems. This will allow the community DAO ecosystem to develop much faster, thanks to proper funding.

Community DAOs will become more and more commonplace in the future. One of the largest barriers for creating DAOs is the programming needed to be done in the background. Luckily, developing and launching a community DAO has never been easier, thanks to the Verse Network.

The applications that live on the Verse network, Clique and Framework, allow anyone to create and manage their own DAOs with ease. No coding required!

Thanks to preset templates that Framework offers, anyone can create a functioning DAO in minutes which will perfectly fit the needs of their organization. Once the DAO is made, DAO members can easily track and participate in the DAO through the Clique Dapp.

Clique users can view all of their DAOs on one single user-friendly platform, and participate as wanted.

As more DAOs continue to emerge, they will need the infrastructure to create and grow their communities. The rise of the Community DAOs as evidenced by PleasrDAO and ConstitutionDAO depict the tremendous opportunity that lies ahead for them. The DAO infrastructure built on Verse Network provides the tools and resources necessary for DAOs like these to thrive.

About Verse Network

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.