Will DAO bringing evolution to the NFT market ?

 DAO Enabled NFT Marketplace Development

DAO enabled NFT marketplace development is the complete process of building a NFT marketplace under the concept of DAO, Decentralized autonomous organization. Here in DAO enabled NFT Marketplace, users of the platform have full authority to take part in decision making via voting. 

Is DAO bringing evolution to the NFT market ?

DAO's are considered revolutionary not only in the NFT marketplace but for the whole blockchain industry. Consider in general, NFTs are implemented via smart contracts in the blockchain. Every minted token is unique ahd holds the unique metadata. Thus, we can't say that NFT marketplaces are 100% decentralized. Thus the concept of DAO brings equality to the platform which is quite revolutionary. For instance, In Binance Smart Chain, the individual can't participate in any kind of decision making, only the owner of the platform has the access to do that.

Why does DAO matter in the NFT Marketplace ?

NFTs might arrive late but it has undergone astonizing growth. The current market cap of NFT is nearly 41 billion and there is no sign of fading. Thus the intervention of DAO in the NFT industry will swift the NFT industry to the new milestone. 

DAO offers transparency through distributed decision-making in the NFT marketplace. it provides rights to all the users of the platform to decide themself for the platform. It widely helps in eliminating the barriers and hurdles in the decision - making process. The controlling power is given wholly to the users of the platform rather than the CEO of the platfrom.

Depending upon the business model, the enterprise can choose the DAO and build it accordingly. Here is the list of DAO that enterprises can choose for their business.

Operating Systems:To build and create standalone platform

Protocol DAOs: Special DAO to implement protocol changes

Investment DAOs: Investment DAO is designed for DeFi applications like Staking and pooling

Service DAOs: This kind of DAO is built for individuals and other operations

Collector DAOs:Collector DAOs are concerned for fractional as well as complete NFT ownership

Social DAOs: For the kind of social networking and other platforms

Media DAOs: It is for news aggregator based upon consumer's interest. 

Look at the benefits of DAO Enabled NFT Marketplace Development here !!