DAO (DECENTRALIZED AUTONOMOUS ORGANISATION)
The DAO was an organization that was designed to be automated and decentralized. It acted as a form of venture capital fund, based on open-source code and without a typical management structure or board of directors. To be fully decentralized, the DAO was unaffiliated with any particular nation-state, though it made use of the ethereum network.
Why make an organization like the DAO? The developers of the DAO believed they could eliminate human error or manipulation of investor funds by placing decision-making power into the hands of an automated system and a crowdsourced process. Fueled by ether, the DAO was designed to allow investors to send money from anywhere in the world anonymously. The DAO would then provide those owners tokens, allowing them voting rights on possible projects.
The DAO launched in late April 2016 thanks to a month-long crowdsale of tokens that raised more than $150 million in funds.2 At the time, the launch was the largest crowdfunding fundraising campaign of all time.
DAOs are an effective and safe way to work with like-minded folks around the globe.
Think of them like an internet-native business that's collectively owned and managed by its members. They have built-in treasuries that no one has the authority to access without the approval of the group. Decisions are governed by proposals and voting to ensure everyone in the organisation has a voice.
There's no CEO who can authorise spending based on their own whims and no chance of a dodgy CFO manipulating the books. Everything is out in the open and the rules around spending are baked into the DAO via its code.
Decentraland is a virtual world where users can buy, develop, and sell LAND, a non-fungible ERC-721 token that represents the ownership of virtual land in Decentraland. Each parcel of LAND is unique and owners get to choose what content they want to publish on their portion land, which can range from a simple, static scene to an interactive game. Users can purchase LAND as well as all other goods and services in Decentraland with MANA, a fungible ERC-20 token.
Decentraland is a shared virtual world, much like the Metaverse described by author Neal Stephenson in his science-fiction novel Snowcrash or the OASIS described by author Ernest Cline in Ready Player One. It allows users to connect and interact with each other, create content, and play games. Decentraland has a virtual economy where users can engage in a myriad of in-world economic transactions as well as monetize the content and applications they build. Unlike other virtual worlds such as Second Life, it is not controlled by a centralized organization or company
The VEMP token is an essential part of the protocol. This is the Empire's native token and coin that is used to reward winners of trading card battles, liquidity providers, gamblers, and the DDAO. Decentraland currently only uses MANA for content in the world. Finally, we hope to be able to influence VEMP also on the platform. After the successful introduction of V2, the acquired lands and properties are monetized and rebuilt with the aesthetics of the empire.
VEMP holders can use their tokens for xVEMP, which grants them rewards and voting rights in the DDAO that give them control over the invasion, conquest, and expansion of the empire. As the winnings from the battles and then the monetized land is given as a gift to the DDAO (xVEMP holder), the value of xVEMP will increase, which means that rewards will be earned by losing weight from the DDAO.
This is For soldiers to enter and fight battles, xVEMP is divided into groups that effectively burn a percentage of the tokens and reward them to the winners of the battles.