Web3 Power Seizure Movement

"If you don't issue Token, we will DAO you" has become a popular saying in the encryption industry at the end of the year. This remark originated from an airdrop of OpenDAO. On December 24th, OpenDAO went live and airdropped Token SOS to all users who have interacted with the NFT trading platform Opensea. The number of tokens obtained is related to the number of transactions and the amount spent by the user in Opensea. The deeper the Opensea user is, the more SOS they get.

The airdrop of SOS has resonated widely in the crypto market. According to Coingecko data, after its inclusion, the SOS price was only one day away from the historical high and the historical low. In just one day, SOS rose from $0.0000014 to $0.00001108, an increase of nearly 800%.

In addition to users' desire for airdrops from Opensea, the largest NFT market, the Fomo (Fear of missing out) sentiment triggered by SOS is also related to Opensea's Chief Financial Officer Brian Roberts' statement on December 6 that he is "planning an IPO plan for OpenSea." The news of the IPO, which means that tokens will not be issued, sparked intense dissatisfaction in the community. To calm the community reaction, Brian Roberts responded on December 8th: "There is a big gap between thinking about what an IPO will eventually look like and actively planning an IPO. We have no plans for an IPO. If we had one, we would seek the community's feedback." participate".

However, although it took the heat of DAO, OpenDAO is not a DAO in the true sense. From a pragmatic point of view, SOS is a Meme Token. Emotions shape the value of SOS. People's expectations for OpenDAO stem from their desire for Web3, and their desire for the profits brought by the Web3 world. In the end, under the guidance of OpenDAO, the emotional community shouted the slogan "If you don't airdrop, we will DAO you".

Even if someone has used the functional "Read-Write-Own" to distinguish Web1, Web2 and Web3, in the final analysis, we still cannot know what the Web3 world looks like. Fortunately, this "OpenDAO airdrop event" is enough to help us see a corner of the Web3 world.

Is it Web3 or hype?

OpenDAO's airdrop has once again deepened the encryption industry's desire for Web3. Over time, OpenDAO's imitation disk appeared. MetaDAO and GasDAO airdrop to users based on ETH transaction volume and Gas consumption respectively. Although both have aroused a certain degree of discussion in the community, the community sentiment that was consumed no longer exists.

Although it is an imitation disk, we can also see some clues of hype from the community movement of ""DAO" Web3 products that have not issued Tokens". OpenDAO tells a good story. People often think that OpenDAO's airdrop is a challenge to Opensea, which is a kind of pragmatism. Some people expect OpenDAO to cooperate with Binance NFT Market or Coinbase NFT Market to open a new NFT ecological network.

However, as OpenDAO said on its official website, "The SOS airdrop is to thank all NFT creators, collectors and markets for nurturing the entire NFT ecosystem. Special thanks to OpenSea for its leadership in promoting NFT transactions. To pay tribute, we chose Collectors from OpenSea for airdrops.”

In essence, just like many Meme Tokens will send a part of the total circulation to V God, CZ and others, OpenDAO’s fair issuance is more like retreat, which is why we mentioned above that SOS is a Meme Token .

A good story does not mean that OpenDAO will replace Opensea, nor can it take away the power that Opensea's corporate body has over the product.

Who owns the power?

In a world where Web2 is readable and writable, the control of a product is held by a centralized company. The power of life and death for products is in the hands of some groups. The spirit of Web3 is to deconstruct the power center with a more open mind, and in the process of decentralization, contributors can obtain profits that match their contributions.

In Web3 products, the power to control the product should be controlled by product contributors, which is why many products reward early users through airdrops. However, as the number of people who use airdrops instead of actual use increases, Web3 products will also set more complex airdrop conditions to reward deep users of the product, such as the airdrop of Terra Name Service, a domain name service provider of Terra.

Airdropped Tokens can be used to participate in the governance of Web3 products. From the perspective of users, what people expect is not only the profit rewards brought by Token, but also the power of product governance. Governing a product through a community is certainly exciting. We can use the Web2 unicorn analogy - if Facebook's renaming of Meta was the decision of all Facebook contributors and the Facebook user community, the feeling of this situation would be overwhelming.

The Rise of Community Power

The decentralization caused by Web3 will further promote the prosperity of the community. The community function will also change from a product user group to a product benefit sharing group.

While there are concerns that the decentralization of power will prevent actions such as product decisions from proceeding smoothly, this is caused by the insufficient infrastructure of the DAO. With the construction of DAO infrastructure and the development of concepts, the emergence of efficient DAO may become an opportunity for the rise of community power, and it will also be the cornerstone of the real implementation of Web3. Aragon, the largest platform for creating DAOs, has begun to promote the layering of roles and decision-making in DAOs to further improve governance efficiency.

The essence of power grabs is the rise of community power. The continuous development of the encryption market has promoted the awakening of community awareness. As one of the most important components of the product system, the community hopes to become the owner of power. Under the influence of Web3 ideology, the empowerment of products to the community is ongoing.

However, the unconsciousness of many Web3 product power centers is one of the main obstacles to advancing its decentralization. Although the power center standing at the top of the pyramid is building Web3 products and participating in many on-chain activities, even they will buy NFT for social show off, but their thinking is still in the Web2 era. Just like the Opensea chief financial officer Brian Roberts mentioned above, his first reaction when he joined Opensea was to "list the Opensea IPO".

This is one of the main ills of Web2 - a single individual or board of directors can have far-reaching influence over an organization based on privileged authority, even against the interests of the majority. In the era of stocks, the benefits generated by the company's means of production are usually centralized and cannot motivate most community members.

The emergence of the concept of DAO is the beginning of the rise of community power. Open and transparent operating rules and reward and punishment mechanisms create a benefit distribution scenario that isolates power centers, and power decentralization and power flow clearly define the common ownership and fair distribution of organizational power. In the future Web3 world, the community built by DAO will play a key role. Web3 products that betray the community will eventually be abandoned by the Web3 community.