Should I invest in DAO NFTs?

Asked 2 years ago

I have my hesitations about whether or not I should invest in DAO NFTs. My understanding is that DAO NFTs cut out the middleman by removing the need for approving invoices and processing fees. This all sounds really efficient, however it raises some suspicions: How will I know if I'm being scammed? Please help!

Odin Clarke

Tuesday, May 10, 2022

DAO NFTs are collector DAOs established to acquire NFTs on native projects or other projects. These DAOs such as Pleasr DAO have been successful over the years, and they have acquired significant investment in DeFi. Some existing NFT projects have fractionalized NFTs into tokens used to establish DAOs like Ape DAO which gives holders of the token the right to vote on proposals and changes to be implemented by the DAO contract. DAO NFT will form an important part of the DeFi ecosystem and since they can serve as an extension of the prestige following an NFT project, lots of people will be interested as we have already seen with Ape DAO. To stay safe always DYOR, and check the team, the official social media handles, the website of the NFT projects to be invested in, and live videos if possible.

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