More DAOs are pooling resources to establish enterprises in the physical world these days. This business model is becoming increasingly popular as a result of the capacity of people from all over the internet to band together to form a Decentralized Autonomous Organization (DAO).
FriesDAO, which successfully funded $5 million in its initial offering earlier this year, is one of the most recent of these occurrences. According to media reports, the DAO is aiming to open its first restaurant in New York City.
FriesDAO is nearing completion of its acquisition.
FriesDAO is interested in acquiring a frozen yoghurt and boba tea operation that has been described as a ‘absentee store.’ According to FriesDAO, the business is not only successful, but it may possibly be involved with a top NFT collection.
The NFT collection, which has yet to be named, has reportedly provided backing to the initiative in exchange for a branding arrangement. We’ve seen numerous NFT collections, including the Bored Ape Club and DeGods, negotiate branding arrangements for food goods in the previous few months, so this isn’t out of the question.
According to FriesDAO, this proposed sale would remove revenue constraints from using the NFT collection’s assets.
“This would potentially allow us to own the store directly, explore and set our own policies, increase community engagement through creative endeavors, and possibly start our own franchise,” the management of FriesDAO said.