Understanding The Structure Of VICEWRLD DAO
What is DAO?
DAO is an acronym that stands for “Decentralized Autonomous Organization.” Originating in 2016, DAO surfaced in the cryptocurrency scene as an organized community run by a group of leaders (a DAO Council) and participants towards a specific agenda. It is a legal structure in the form of a crypto-based community formed and run by token holders. DAOs are primarily created to support and promote the mission of a Web3 project, usually by voting, whereby its members acquire crypto tokens that enable them to make decisions and make proposals concerning the intended project.
In essence, these tokens act as veto power for the community members enabling them to contribute to the development and running of the crypto-based project. The number of tokens owned by a member determines how much veto power they hold; for instance, a member with 100 tokens has twice as much voting power compared to a member with 50 tokens. Furthermore, these tokens act as utilities that community members can use to access various options available in a project. While some other crypto tokens act as a money market instrument, $VICEWRLD DAO tokens are strictly a utility token.
Vicewrld DAO
VICEWRLD DAO is a crypto-based community or organization, just like any other DAOs in the cryptocurrency space, which heavily rests on its members and a group of leaders known as the DAO council. Vicewrld DAO’s initial DAO council is run by a core team comprising cryptocurrency experts and adult industry experts who are democratically elected yearly. Being the home of the world’s first adult production company on chain, VICEWRLD has its DAO council run by crypto experts and adult industry experts to make its vision of evolving the adult entertainment industry into web3 possible seamless. Vicewrld DAO majorly exists to support its agenda of integrating adult content creation on web3, allowing adult content creators to launch NFTs, and offering VR sexual experiences to consenting adults.
All of these services are heavily powered by the community token holders and the selected group of leaders occupying the DAO council who oversee proposal suggestions and activities within the community. VICEWRLD DAO community members can even go as far as voting on the different type of adult content creatives that are proposed to them. They will be able to use the $VICEDAO token to vote on scene creatives and access other offers like tickets for IRL (in-real-life) events, exclusive/ VIP content, and NFT drops, to mention a few. Vicewrld DAO will also partner with charity organizations to help with sex works rights & education, mental wellness, etc. VICEWRLD DAO owns a DAO Treasury that acts as a community bank account that can help donate to these charity organizations.
About the DAO Treasury?
The DAO Treasury is not just a source of funds that will actively donate to charity organizations. It will also reward members and help the DAO community pay for the operations and running of the community. Most of the funds in the DAO treasury arise from VICEWRLD’s adult content creation, as a whopping 100% of the net profits goes into this treasury. 10% of the profit from NFT sales by adult content creators also goes into the treasury. Interestingly, the DAO community token holders can vote on how they utilize the funds in the DAO treasury. All they have to do is send proposals to the DAO council for review and approval.
