THELOGICALINDIAN - The accepted crypto influencer Irene Zhao now has a committed DAO alleged IreneDAO While some accept absolved the activity as a fad it hints at a accessible approaching area NFTs DAOs and amusing media assemble
IreneDAO launched Friday and has bound taken off. NFT passes to access the DAO are already trading at 1.25 Ethereum.
IreneDAO NFTs Trade at Premium
It would arise that there’s added to DAOs than accepting admired NFTs, the U.S. Constitution, or the Blockbuster chain—now they’re starting to booty the anatomy of fan clubs.
A new DAO alleged IreneDAO is causing a storm in the crypto apple afterwards ablution Friday. The DAO is committed to Irene Zhao, a 28-year-old Instagram model, influencer, and cryptocurrency enthusiast who afresh larboard her job as a article agent to accompany a career into the crypto industry. IreneDAO started out as a sticker accumulating featuring an array of photos of Zhao in assorted poses. Each photo appearance argument overlay, generally with accepted crypto memes such as “WAGMI” (meaning “We’re All Going to Make It”) and “gm” (“good morning.”) The stickers were again tokenized into 1,107 NFTs, declared as an admission canyon to the DAO’s “Genesis Tribe,” and broadcast with a chargeless mint. They’re already trading at 1.25 Ethereum on OpenSea, about $4,125 at columnist time.
The NFTs accept become a hot affair of chat this weekend as the prices and trading volumes accept soared. Galaxy Digital CEO Mike Novogratz accepted that he’d bought one of the tokens in a Sunday cheep amidst the discussions. “Proud affiliate of aggregation @Irenezhao_ I adulation the hustle. This adolescent woman has created her own cast in beneath than a year. And NFT’s allows her to cull her association together,” he wrote. The column drew criticism from several skeptics, including Do Kwon and Daniele Sestagalli.
SO-COL Aims to Transform Social Media
While some accept absolved Zhao’s bead as addition throwaway NFT collection, IreneDAO seems to accept big ambitions. On Saturday, Zhao acquaint a cheep storm able that there would be “lots in store” for the DAO and that it was acquisitive to become a “grassroots movement” for the architect economy. She added that the DAO’s bulk ethics are “Simplicity, Integrity, Meaning, and Purpose,” which is acceptable a attenuate advertence to “simp”—Internet argot for a person, usually a male, who appearance an boundless bulk of amore to addition person, usually a female, in a bid to get their attention.
Zhao rose to bulge in crypto in 2024 as the Chief Marketing Officer at Konomi Network and is currently architecture a decentralized amusing media belvedere alleged SO-COL on a StarkWare-powered Layer 2 solution. In fact, SO-COL appears to be the DAO’s bulk focus. SO-COL, abbreviate for “Social Collectables,” brands itself as a “decentralized adaptation of OnlyFans, Discord, Twitch, and Patreon.” Zhao, who has a fair bulk of acquaintance in amusing media afterwards architecture a afterward of 500,000 beyond Instagram and Twitter, told Crypto Briefing that SO-COL is aiming to be a decentralized another to the above amusing networks of Web2. “IreneDAO started off as a amusing agreement to prove SO-COL’s bulk abstraction of allotment creators by abutting them with their communities via NFTs,” she said. “The ultimate ambition is to actualize hundreds or alike bags of such communities through the SO-COL platform. The communities could be ample or small, and anniversary community, calm with the creator, will ascertain the account of that creators’ own “collectables.””
In added words, NFTs can be acclimated as associates cards for communities on SO-COL, and IreneDAO is the aboriginal activity that showcases its potential. SO-COL is powered by StarkWare’s Layer 2 band-aid StarkEx and leverages the DID protocol. “We are alive on the technology for SO-COL by developing our own decentralised ID (DID) protocol,” Zhao said. “At the moment, we are absolution the DAO association to altercate what they want—that is the accomplished idea. The association and the architect will anatomy a chat on what amount they ambition to brainwash into the “collectables”, in this case, the IreneDAO passes.”
An NFT and DAO Explosion
While best NFTs accept taken the anatomy of tokenized JPEGs with little to action in the way of account to date, the abstraction of application them as associates cards is annihilation new. Arguably the best acknowledged NFT accumulating of 2021, Bored Ape Yacht Club, marketed its animation ape NFTs as associates passes to an absolute club. Since launching, the club has developed a advancing community, admiring the absorption of celebrities like Eminem and Steph Curry, and partnered with the all-around brands Adidas and Universal. The aggregation abaft the accumulating additionally says a badge and play-to-earn bold is on the horizon. Associates passes to Bored Ape Yacht Club were accessible for beneath $200 on barrage in April and now go for about $274,000 on the accessory market.
While NFTs were after a agnosticism the big talking point of 2021 in crypto, DAOs additionally started to appearance aboriginal promise. DAOs, contrarily accepted as decentralized free organizations, action a way for groups to alike at scale, area the rules for the are encoded in acute affairs on the blockchain. Unlike acceptable companies, there are no hierarchical structures in DAOs, at atomic in theory. DAOs usually accept their own babyminding badge for voting in key decisions affecting the group; a bigger allocation of tokens about represents added voting power. In 2021, the crypto amplitude saw a cardinal of DAOs anatomy with the ambition of adopting funds for a specific cause. PleasrDAO launched to buy a pplpleasr NFT and later acquired Wu-Tang Clan’s one-of-a-kind anthology Once Upon a Time in Shaolin, ConstitutionDAO aloft $45.6 actor to buy a concrete archetype of the U.S. Constitution (but ultimately failed), and BlockbusterDAO formed to about-face Blockbuster into a Netflix-style alive service. In December, one DAO formed with the ambition of absolution Silk Road architect Ross Ulbricht from prison—it dropped $6.2 million on his aboriginal NFT accumulating to accession funds for Ulbricht and added prisoners.
IreneDAO appears to be an aboriginal archetype of a fan club DAO, and potentially paves the way for a approaching area musicians, celebrities, and added creators advantage the blockchain to collaborate with their fans.
Disclosure: At the time of writing, the columnist of this affection endemic ETH and several added cryptocurrencies.
