DAO votes to join Blender Development Fund as Patron member

I take regular tours around it to see what's going on. And the general answer is not a lot.

Largest percentage of developed plots are NFT showrooms, some for sale, some just showing off (which is totally valid in my mind). Some trying to sell wearables for your in-world avatar.

There's some casino operations, the largest being a poker room which seems to where the most people congregate.

There's a crafting game where you have to collect materials that are doled out slowly enough that it takes days to make anything.

A couple of very mildly interactive "rides" for lack of a better term.

A number of largely abandoned...I don't know...architectural phantasies? Places where someone built weird/interesting things because they could.

There's a lot of hype around trading the virtual land, but the prices are all out of whack with the utility. Far, far too little land at far, far too high prices. People are dreaming of being virtual landlords, but it's hard for me to see that playing out well for them.

The software development is glacial compared to the rest of the crypto world.

My opinion is that the project as a whole on a dead end path, but I check in once or twice a week to see if anyone is doing anything interesting with their little piece of it.

That’s consistent with my understanding.

They seem to be functionally identical to a Board of Directors or how a co-operative might run.

Though as I understand, with potentially a very large number voters in ever-changing cloaked identities (as voting right tokens could be continuously bought & sold).

Today, in the real world - DAO’s are an LLC coordinating on Discord, or Zoom, or other common communication tools.

That DAO coordination happens fully in cyberspace is promoted as a unique differentiator to how businesses run today.

In my experience, the key unique characteristic of DAOs are that you may not know who you’re doing business with.

I have spent some time learning about DAOs and this is what I understood. Please correct me if there is a mistake.

Coined as Decentralized autonomous organization, they are decentralized applications whose main function is to handle fund disbursement. They work more or less as any other treasury but in a more transparent and automated way.

What further separates them from the traditional treasury is that they are essentially a piece of code that runs on blockchain networks, like Ethereum, Cardano, Solana etc. It makes DAOs a lot different from traditional organisations and businesses from an economic and regulation sense.

Let’s take an example DAO and how it operates. There is no defined template of a DAO yet so I’ll use this open source code written in solidity as an example https://github.com/blockchainsllc/DAO/blob/develop/DAO.sol

This can be called a decentralized application or a smart contract. It defines an Interface which can be used to instantiate a DAO contract. The first few constants define the regulatory parameters. The most interesting part is the proposal array. It holds all the proposals submitted by the proposal creator that specifies an amount which is to be paid to the proposal recipient if it gets approved. Approval is done by DAO stakeholder by casting votes.

From a freelancer’s perspective this can be a bidding platform where gig workers can place their proposals and get paid once the work is done. A very transparent and seamless experience as compared to existing freelance marketplaces.

What you can expect as a corporate (or any) sponsor, or corporate membership, as it's called, is defined here: https://fund.blender.org/corporate-memberships/ The two (short) PDF's go a bit into detail, but in a nutshell they can fund core projects, access meetings, and "more closely monitor" progress they are interested in.

Can someone w/ more crypto experience explain how a DAO actualizes its decisions?

For example: Here, there was a vote. Now what? Will Blender setup a wallet that can accept ETH? Will the DAO then vote on a transaction that sends money from the DAO to Blender's ETH wallet??