One of the most challenging and crucial jobs for new DAOs, according to Bankless members, is establishing and maintaining a community. The Bankless DAO has a population of 1,500 individuals. In an hour-long session, members debated the relevance of community-building for DAOs.
The Bankless DAO team explored the obstacles of building a DAO community during a Twitter Spaces discussion on Friday. The DAO is a non-profit organization governed by humans. How are they going to locate, engage, and retain the right people on board?
The DAO describes itself as a “steward of the Bankless Movement,” which is “moving the world towards a future of greater freedom”. It is already regarded as one of the most successful businesses in the fast-evolving metaverse and has produced a report on how-to guides for new DAOs, which contains instructions, explainers, and other content.
Samantha Marin works for the DAO’s writer’s guild as a writer, editor, and scout. She recently joined Bankless as a talent scout to assist in the recruitment of new talent for the DAO platform. When she was looking for a way to give back to the community, she didn’t know where to begin, she says. She recommends anyone interested in getting involved with DAOs to find their specialization and get involved in a project, but not to over-commit. While it’s exciting to begin started, she warned that contributing to “a bunch of guilds at once” could be overwhelming. “Everything is optional,” Marin added, “but everything is rewarded in BANK [the DAO’s native currency], so you’ll be earning your way into the guild and the DAO in no time.” The only thing that stands in your way is the passage of time. Marin said that she was initially perplexed, but she knew she wanted to write and picked the writer’s guild as a result.
More than 300 individuals attended Friday’s hour-long Twitter Spaces session, which was titled “Settling New Territory.” Bankless is not a DeFi protocol and does not yet have a financial system, unlike other DAOs, including those in the DeFi space. BanklessHQ newsletter editor Lucas Campbell stated during the event. “We don’t have a financial protocol,” he said. “We’re only depending on people’s ability.”
Bankless has roughly 1,500 members and supervises DAO activities through 13 separate “guilds,” including writing, legal, and development. As of press time, their efforts are supporting the BANK (Bankless DAO) token, which has a fully diluted market cap of $92 million and is held by 3,900 people. Bankless envisions a world in which everybody with an internet connection has access to the financial tools they need to become financially self-sufficient.
FrogMonkee. Eth, a Bankless member, feels using things to attract new customers and improve DAO brand awareness is a fantastic idea. FrogMonkee told the audience, “On dates, I wear Bankless clothing.” “Promoting Bankless is great, but not on Facebook.”
Many more DAOs are expected to follow, meaning that things will only get busier from here. He added, “We’re launching at a fortunate time.” “Creating a DAO now will be easier than it will be in two or three years.” Perhaps. However, it is possible that it will be determined by the quality of the merch.