Media DAOs

Hello Xillion.One community!

This segment of our DAO coverage will be taking a further look into Media DAOs, which aim to change the way the mass public receives and spreads information in the ever-growing digital media landscape.

Media DAOs reinvent traditional media platforms by creating content driven by the community, instead of the traditional means of media being spread in a top-down approach with little input from consumers or members of the media organizations themselves.

Popular Media DAOs:

1. Bankless DAO

  • Bankless DAO is a decentralized community to coordinate and propagate bankless media, culture, and education. It’s goal is to drive adoption and awareness of truely bankless money systems like Ethereum, DeFi, and Bitcoin.
  • It has grown the movement through memes and media, including a popular newsletter and podcast. Bankless LLC is now a fully operational media studio with revenue, expenses, and employees.
  • Bankless DAO will be independent of Bankless LLC. Bankless LLC plans to continue to grow the bankless movement, but now as one of many participants in the larger Bankless DAO.
  • The Bankless DAO will act as a coordination mechanism for a collection of participating media nodes. Participants can range from individuals acting on their own behalf, or larger entities with employees and resources. Bankless DAO will coordinate them all in order to achieve its mission.

2. Decrypt DAO

  • Decrypt Media is an independent media brand delivering essential journalism, education and analysis for the adoption of blockchain. They are a newsroom of professional journalists operating in a decentralized culture with the desire to bring transparency and accountability to the space.
    - Though they are funded by the Brooklyn, NY-based incubator ConsenSys, they are both editorially independent and technologically agnostic.
  • Decrypt is experimenting with its own DAO as a way of empowering users to vote on what content they want to see next.
  • In March, they launched their DCPT reader token, which their readers could earn simply from browsing and sharing our content. Token holders could then redeem their tokens for special NFT (non-fungible token) artworks.
  • Now, in their latest experiment, Decrypt is looking to reward theirNFT holders by giving them a bigger say in the educational content their editorial team produces next.
    - They use Snapshot, a free platform where projects can let community members vote on proposals. Because Snapshot doesn’t use “on-chain” verification, any votes are fee-less.

3. EventDAO

  • EventDAO brings the world’s largest events and concerts into a decentralized space, and shares event profits with the Community.
  • EventDAO will not only host concerts, but it will also work with local musicians for side stages, support no-name artists, and much more.
    - Backers include BanklessDAO, ConstitutionDAO, and Seed Club to name a few.

There are very few Media focused DAOs in the segment at the moment, however the concept leaves an incredible amount of room for already established media outlets to follow suit with the DAO structure, so that much needed change is made to a currently stagnant mass media landscape.

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