What is a DAO?
Decentralized Autonomous Organizations, or DAOs, are a new form of organization that utilizes blockchain technology to operate. Unlike traditional organizations, DAOs are run by a community of individuals who come together to support a common cause or goal. This allows for a more democratic and decentralized decision-making process, as well as greater transparency and accountability.
It leverages Smart Contracts to encode the Organisations rules and policies so that there is no single point of failure or possibility for corruption. This frees up members to focus on the Organisational mission and values without the overhead of management and operational inefficiencies. A DAO can be borderless and non-temporal, and doesn’t suffer from local geopolitical restrictions or biases.
Who is Auspicious Victory?
Auspicious Victory is a decentralised digital artist, futurist, and activist whose work has been exhibited locally and internationally. They aim to create a self-sustaining platform that will support digital artists with currency remuneration, marketing infrastructure (social media channels etc.) and administrative infrastructure. This will enable the artist to work on creating digital art with activism at its heart and not be distracted about paying the bills.
Auspicious Victory will work as a DAO by utilizing blockchain technology to administer its needs. This will allow for a more democratic and decentralized decision-making process, as well as greater transparency and accountability. The community will come together to support Auspicious Victory’s cause, which is to empower and support digital artists in their work. The community will also be able to vote on proposals and decisions, ensuring that the organization is run democratically.
The impact of Auspicious Victory as a DAO on society is that it will enable digital artists to thrive and create important art that speaks truth to power. It will also break new ground by combining the crypto world with the art world to create the first decentralized artist. This new form of organization will also provide a platform for marginalized voices to be heard and empower them to set their own terms. Furthermore, Auspicious Victory is committed to giving back by allocating 5% of their profits to community organizations that provide mental health support to men.
Auspicious Victory is a revolutionary digital artist who is breaking new ground by operating as a DAO. By utilizing blockchain technology, Auspicious Victory will be able to create a self-sustaining platform that will empower digital artists to create important and impactful art. This new form of organization has the potential to change the way we think about art and activism and will provide a platform for marginalized voices to be heard.
What is BLOCKCHAIN?
‘Blockchain’ is the default name for a set of encompassing technologies that together provide a platform for reliable, scalable, protected collaboration and sharing of information.
The system uses cryptography to protect and anonymise transaction activity, while concurrently providing a trust mechanism that cannot be corrupted or broken. All information and transactions stored on a blockchain are universally transparent, non-corruptible, and globally distributed.
What is a Smart Contract?
A Smart Contract is a small autonomous computer program that encapsulates a single Organisational rule or process. The rule or process is guaranteed to obey, and will carry out its role through all time and space. It is completely reliable, fully trusted and non-fungible.