About Business Network
What is the Decentraland DAO?
DAO stands for «Decentralized Autonomous Organization». The Decentraland DAO owns the most important smart contracts and assets that make up Decentraland – the LAND Contract, the Estates Contract, Wearables, Content Servers and the Marketplace. It also owns a substantial purse of MANA which allows it to be truly autonomous as well as subsidize various operations and initiatives throughout Decentraland.
Why has the DAO been created? How is it relevant to me?
Decentraland is the first fully decentralized virtual world. It was always part of the original vision to hand over control to the people who create and play in this virtual space. In short – you, the users. Through the DAO, you are in control of the policies created to determine how the world behaves: for example, what kinds of wearable items are allowed (or disallowed) after the launch of the DAO, moderation of content, LAND policy and auctions, among others.
How does the DAO work?
The community will propose and vote on policy updates, future LAND auctions, whitelisting of NFT contracts to be allowed inside the World, Builder and Marketplace, and whatever the community deems relevant. Voting takes place on the Decentraland DAO’s governance interface, powered by Aragon.