DomainDAO secured funding of over 200 ETH in Phase I to build the domain space of the future

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SINGAPORE, August 10, 2022 /PRNewswire/ — DomainDAO, a new community DAO that aims to bid on the .dao top-level domain, just closed its Phase I crowdfunding on the Juicebox protocol with over 200 ETH contributions in a month in the winter toughest crypto yet. Major participants include DAO enthusiasts and well-known venture capitalists.

DomainDAO monopoly aims to disrupt

The crypto space never stops innovating, with the latest spotlight neither on the NFT craze nor the GameFi Play-to-Earn fever, but on a new movement of revolt against a traditionally monopolized but misunderstood sector: the domain space. Many leading modern domains such as .io and .finance are dominated by private companies or government-backed agencies, and DomainDAO wants to disrupt that with decentralization.

Founded by web3 professionals and enthusiasts, DomainDAO aims to decentralize the governance of top-level domains (TLDs), starting with offering and bidding on a new top-level domain – .dao under ICANN regulationsramework. After DAOs are being created more than ever and could soon become the main governance structure of the organization.

DomainDAO wants to anticipate how DAOs will identify in the digital space with the traditional TLD configuration, hence its mission to own .dao for DAOs, by a DAO. DAOs could show their DAO entities with their domains upon successful application. Makerdao.com would conveniently become maker.dao, and this applies to all other DAOs.

The Roadmap Ahead: The Present and Future of DomainDAO

True to its DAO identity, DomainDAO referenced ConstitutionDAO and provided its Phase I funding to Juicebox to garner community support for decentralized domain ownership. Funding for Phase II started immediately thereafter for early proponents of DomainDAO. With providential cycle funding, the team focuses on preparing the ICANN application from all angles, including operations, legal, marketing, partnerships, and more.

DomainDAO has recruited over twenty DAOs to form a tight-knit community, including popular ones like Cult DAO, City DAO, PleasrDAO, etc. All Founding Partners will receive exclusive DomainDAO NFTs as proof to reserve their preferred .dao secondary domains with $DOMAIN before DomainDAO successfully offers the TLD. The partnerships have proven strong demand for the .dao TLD, and DomainDAO ultimately wants to build a DAO ecosystem that encourages, supports, and fosters the development of DAOs.

Ways to contribute to DomainDAO

There are multiple ways to contribute to and lead this revolution.

  • Be an angel investor: participate in DomainDAO’s phase II financing on Juicebox and contribute $ETH for $DOMAIN.
  • Be an active member of the community: propose, connect and share ideas on Discord and Twitter. DomainDAO is a DAO after all, and some of its key decisions will be voted on and decided by its community.
  • DAOs should not hesitate to ask any cooperation and partnership. DomainDAO is always looking to expand its community, and anyone can reserve a .dao TLD for future use.

About DomainDAO

DomainDAO is a decentralized autonomous organization whose mission is to bid on the .dao top-level domain (TLD) and to decentralize its governance with other DAOs and community members. Once accepted by ICANN, DomainDAO will serve as registry operator and manage the Domain Name System (DNS) for the .dao top-level domain so that all of its DAO partners can use .dao domains for their websites. DomainDAO thinks .dao should belong to DAOs. As tech giants buy TLDs for their use, DomainDAO is here to change that, starting with .dao.

Follow DomainDAO:
Website: https://thedomaindao.org/
Twitter: https://twitter.com/theDomainDao
Discord: discord.gg/DuAP2yKx66
Juice box: juicebox.money/#/p/domaindao

SOURCE DomainDAO

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