An exclusive type of club called ?Dao? is popping up online. What?s it all about? | Geoff Mak

Not every DAO mints its own currency, but McFedries decided he wanted one. For his new DAO, Friends With Benefits, he established a native token called $FWB: a publicly tradable coin, minted on the Ethereum blockchain, that rises or peters in value like stocks.

The most photogenic aspect of FWB is that its executive professionals can mingle with artists on its Discord server, the café to the Enlightenment philosophers. Except you can have this without a native token like $FWB. I happen to be a member of two collectively run servers - one is a community for critical analysis of art, tech, politics, and pop culture started by Berlin-based artists, and the other, started by a New York-based artist and internet researcher, is devoted to analysing internet culture and politics. These communities charge an affordable monthly subscription, cheaper than a bahn mi in Bushwick.