(MENAFN- EIN Presswire)
SINGAPORE, September 22, 2022 /EINPresswire.com / -- With the widespread popularity of DeFi cryptocurrencies, the concept of decentralization is gaining the deserved popularity and support at a rapid pace. This is a beneficial factor for Metaverser with its DAO-based economy in the Metaverse environment to attract an audience and provide them with countless rewards in the digital realm.
But wait a minute, what if you're still unclear about the concept of DAO? You probably won't convert into a Metaverser user, right? To ensure you don't miss the train of this one-of-its-kind Metaverse platform, let's learn what DAO is and whether it is correctly hyped.
What is DAO?
As the name suggests, any organization not administered by a singular governing body can be considered a DAO (Decentralized Autonomous Organization). As mentioned earlier, the arrival of DeFi (Decentralized Finance) has hyped a lot of people, thinking it is the only way towards a sustainable and prosperous future. Moreover, financial professionals are happy as DeFi allows financial transactions without the apparently unnecessary involvement of all kinds of intermediaries.
Purpose of DAO
If you have understood the concept of the establishment of DAOs, it is fairly simple to understand its purpose. Although there are a variety of applications that are currently active in the crypto market, such as the MakerDAO (built for a stablecoin - DAI), AAVE (money-lending platform), xHashtag.io (Solana-based DAO to help blockchain-based communities in growing in numbers), the underlying purpose is the same - handing the control over to the community members to decide how the organization should be run.
The voting system of people joining the Metaverser's DAO will be under the hands of the current private investors. Moreover, they'll be in full charge of deciding the consequences of how one can join the DAO group. Once it has been finalized, the results will be posted throughout all of Metaverser's Social media platforms.
The First Island, HOMBABA, is 1/20 of the total supply of Metaverser lands, as you may know and as we mentioned in our whitepaper. In the event that other islands have the same size as HOMBABA, we will have another 19 islands, with each island having its own DAO, called iDAO, but a TOTAL DAO that will decide overall. Therefore, each time a land is bought or sold, 5% will be added to the DAO, and then it will decide how to spend it.
Additionally, we will not sell any advertising billboards in the cities (not those on buildings), but instead will rent them to advertising companies or marketing companies. The Metaverser team will be given 30% of the rental amount, and DAO will determine how to handle them, and 70% will go to the iDAO.
As an additional point, it will only be possible for DAO members to sell the remaining land in the first island (HOMBABA) during the first hour of opening.
On August 23rd 2022, over 420 MTVT holders vested their long term tokens with no benefits of interest. Essentially, they became the members of the DAO, and Hombaba IDAO.
Moreover, the successful voting sessions of the Metaverser platform only show how easy it is to value the demands of your community members and screams at the worldwide adoption of DAOs.
The First ever Metaverser's DAO meetup happened on September 11th, 2022, and a group picture was taken in front of the Metaverser's Mayor building with the mayor himself plus the Metaverser's team.
Metaverser is a virtual world that enables users to have fun while playing inside its metaverse and earn income from different play-to-earn games. Metaverser is developed on most modern standards to utilize NFTs and the platform's native fungible tokens. Players at Metaverser can compete, challenge, and socialize with people from all over the world. The driving force behind Metaverser is its aim to make the virtual worlds more real by offering a place for every individual despite their attributes or ethnicities, to come together and have fun.
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