As more such platforms arise and the communities get diverse, newer ways of rewarding strategies are expected to emerge soon.Our professionals will be available to support you in every stage of developing your platform and even provide assistance post-launch. For more information, talk to one of our experts to start your journey with a DAO-enabled NFT platform.
Benefits of a DAO-enabled NFT Platform
The main benefit one gets through a DAO on an NFT platform is that they get voting rights meaning that they can take part in various activities behind the scenes, including development, security, staking, and governance. The worth of a user’s vote is decided based on different conditions such as the value of holdings, the number of coins staked, and activity levels.
With an NFT platform based on a DAO, there is no need to think about the consequences of human-based hierarchical leadership in a business venture, as everything works as per codes on the smart contracts.
Community members can participate in verifying and editing the code running the platform, although changing the code requires a winning proposal beforehand.
Such a platform cannot be shut down abruptly on the orders of an individual or government agency due to its decentralized nature, and any such activity requires a winning proposal.
A DAO-enabled NFT platform also allows an end-user to review and propose changes to the policies written on the smart contract program. Acceptance of the changes depends on the outcome of the voting result for the proposal.
Also, such platforms with a decentralized community allow community members to earn through staking NFTs and native tokens so that the platform’s liquidity is ensured.
Community members of a DAO-enabled NFT platform can take part in various exclusive events such as launches, sales, promotions, meets, and more.