DAOs will go down as the most impactful innovation in Crypto and Web 3.

Here’s a simple breakdown of what DAOs are and why you should pay attention to them:

Decentralized Autonomous Organizations are communities with a shared bank account.

They're a new way for people to work together.

Think of them as the next evolution of the LLC or Company.

So what makes DAOs different from a traditional company?

It all boils down to ownership.

Let me explain.

You may have seen this going around twitter:

Web 1: Read-only

Web 2: Read & Write

Web 3: Read, Write & Own

Sound familiar?

Think of it as phases of the internet:

Web 1: Static read-only websites.

Web 2: Read and write on social media platforms. Earn likes and followers.

Web 3: Read, write, create. Earn equity in the platforms that you create value for.