Tally Docs

What is an NFT DAO?

What are NFTs and how are they used in DAOs?

What is an NFT?

An NFT, or non-fungible token, is a unique digital asset that is verified on a blockchain. Unlike other cryptocurrencies, which are interchangeable and can be freely exchanged, each NFT is unique and cannot be replicated or replaced. NFTs are often used to represent ownership of digital art or other forms of digital collectibles. They can also be used to represent ownership of physical assets, such as real estate or vehicles.

What is an NFT DAO?

An NFT DAO is a type of DAO that is managed and operated using smart contracts and NFTs on a blockchain. In an NFT DAO, ownership and control of the organization is determined by the holders of specific NFTs. These NFTs may grant their holders the right to vote on decisions affecting the organization, the right to receive a share of its profits, or other benefits. The use of NFTs in an NFT DAO allows for a decentralized and transparent way of managing and governing the organization.

How do you set up an NFT DAO?

This low-code video tutorial will help you build an NFT DAO from scratch!