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<ul class="summary-list"><li>The newly launched <keyword id="12764609" type="UNKNOWN" weightage="60" keywordseo="edudao" source="Orion">EduDAO</keyword> will allocate $11 million a year to university-level students working on technology projects. </li><li>EduDAO is being financed by decentralized asset manager <keyword id="12764612" type="UNKNOWN" weightage="60" keywordseo="bitdao" source="Orion">BitDAO</keyword> in partnership with Mirana Ventures. </li><li>Harvard, UC Berkeley, and Oxford are among the first universities in the EduDAO partnership. </li></ul>BitDAO, a decentralized autonomous organization overseeing more than $2.5 billion in assets, is helping to launch a funding channel for student-led projects focused on blockchain and Web3 innovation. Along with partner Mirana Ventures, whose investment portfolio includes tokens, they announced Friday the creation of <a href="https://edudao.io/">EduDAO</a>, a separate DAO that will partner with eight of the world's top educational institutions, including Harvard University, the University of Oxford in England, Tsinghua University in China and the University of California, Berkeley. BitDAO's treasury will finance EduDAO, which will operate as an independent steering committee and allocate up to $11 million to separate university-centric DAOs.EduDAO will be jumpstarted with $33 million. The aim is to usher in early-stage venture-capital investments to support the next generation of blockchain and Web3 technologies.Web3 refers to the next iteration of the internet, which includes the immersive world of the metaverse. A DAO <a href="https://markets.businessinsider.com/news/currencies/what-is-a-dao-constitutiondao-bid-sothebys-us-constitution-auction-2021-11?utm_medium=referral&amp;utm_source=yahoo.com" target="_blank" rel="nofollow noopener">is essentially a group of internet friends</a> who decide to form a group with a common purpose. The rules of that group are then established and enforced with an underlying code that runs on a blockchain.The most promising technology products and designs are being devised at the university level, but investment capital is "sorely needed," Jonathan Allen, who co-founded Mirana Ventures and conceived EduDAO, <a href="https://www.prnewswire.com/news-releases/groups-from-harvard-mit-oxford-and-others-join-edudao-to-foster-web-3-innovation-via-decentralized-funding-301447066.html">said in a statement</a>. If a university-based DAO were to succeed, an investment of $25,000 or $50,000 could be maximized by 10 times or even 50 times, he said in a <a href="https://twitter.com/BitDAO_Official/status/1471545229174099976">video introduction of the project posted on Twitter</a>.Such growth "brings a bunch of revenue back to the organization and they can then use that to further educate more students," he added. The result is a "virtuous cycle" of organizations helping students and students building projects that fund the university DAO, which then pivots back to aiding students.EduDAO could potentially expand to hundreds of schools beyond the initial eight educational institutions that also include MIT and the University of Pennsylvania.

A DAO is aiming to fund crypto projects in partnerships with some of the biggest names in higher education

• <keyword id="219358" type="PERSON" weightage="60" keywordseo="Mark-Cuban">Mark Cuban</keyword> sees decentralized autonomous organizations, or DAOs, as disruptive.• DAOs run on blockchains, democratize decisions, and use smart contracts.• <keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword>'s <keyword id="6362665" type="ORGANIZATION" weightage="60" keywordseo="berkshire-hathaway">Berkshire Hathaway</keyword> relies on decentralization and autonomy.• <a href="https://www.businessinsider.com/?hprecirc-bullet">See more stories on Insider's business page</a>.The tech billionaire Mark Cuban expects decentralized autonomous organizations, or DAOs, to transform how companies are built and run. Warren Buffett's Berkshire Hathaway embraced decentralization and autonomy decades ago, paving the way for DAOs.DAOs are "the ultimate combination of capitalism and progressivism," Cuban <a href="https://twitter.com/mcuban/status/1399498071873134592">tweeted</a> on Monday."There are so many features and processes in any given company that can be more efficient and productive using a decentralized, trustless approach. As companies are built on this approach we will see some incredibly disruptive businesses built," the "<keyword id="1417364" type="COMPANY" weightage="60" keywordseo="Shark-Tank">Shark Tank</keyword>" star, <keyword id="218068" type="ORGANIZATION" weightage="60" keywordseo="Dallas-Mavericks">Dallas Mavericks</keyword> owner, and <a href="https://markets.businessinsider.com/currencies/news/mark-cuban-praises-dogecoin-defi-nfts-bitcoin-not-inflation-hedge-2021-3-1030172586">dogecoin champion</a> added.Buffett's company showcases the power of the core ideas that underpin DAOs, and it could even be considered the precursor to this new breed of organization.<h2>What is a <keyword id="786882" type="ORGANIZATION" weightage="60" keywordseo="DAO">DAO</keyword>?</h2>DAOs are digital organizations that provide a fresh way to fund ventures, democratize decisions, and split proceeds. They're "decentralized" because they're hosted on a blockchain and all their stakeholders, not just executives and board members, make decisions. They're "autonomous" because they employ smart contracts that automatically execute actions when certain conditions are met, without requiring human approval.Typically, anyone who owns tokens tied to a DAO can vote on proposals, and their votes are weighted based on the number of tokens they hold - similar to the voting rights attached to shares. If a proposal garners enough votes, a smart contract is triggered, and the approved action is executed."If blockchains, NFTs, smart contracts, DeFi protocols, and DApps are tools, DAOs are the groups that use them to create new things," Packy McCormick explained in his Not Boring newsletter <a href="https://www.notboring.co/p/the-dao-of-daos">earlier this year</a>. "If they're the what, DAOs are the how."McCormick also pointed out that Vitalik Buterin, ethereum's cofounder, highlighted DAOs as a potential blockchain application in ethereum's white paper in 2013.<h2>Berkshire is an analog DOA</h2>The core principles underlying DAOs, decentralization and autonomy, are key elements of Berkshire's corporate structure.Buffett's company owns scores of businesses, including Geico, See's Candies, and BNSF Railway, and it employed 360,000 people at the last count. But only a couple dozen people work at Berkshire's headquarters in Omaha, Nebraska.That disconnect is possible because Berkshire has decentralized its operations into dozens of subsidiaries, which are themselves divided into thousands of smaller business units. It also embraces autonomy, leaving its subsidiaries to run themselves with virtually no interference."We would rather suffer the visible costs of a few bad decisions than incur the many invisible costs that come from decisions made too slowly - or not at all - because of a stifling bureaucracy," Buffett explained in his <a href="https://www.berkshirehathaway.com/letters/2009ltr.pdf">2009 letter to shareholders</a>.Lawrence Cunningham, a law professor at George Washington University and the author of multiple books about Buffett, highlighted decentralization and autonomy as two of Berkshire's core management principles in "Margin of Trust." He concluded that the company's trust-based culture allowed them to work."Neither decentralization nor autonomy are the primary reasons for Berkshire's success or durability," he wrote. "Trust is. Autonomy is a manifestation of trust; decentralization is a consequence of it."There are clear differences between Berkshire, a sprawling conglomerate of decentralized, autonomous businesses, and DAOs, blockchain-based constructs that rely on smart contracts to strike virtual deals. For one, trust is critical to Berkshire's success, while DAOs enable "trustless" processes - at least in Cuban's view.But it's fair to say Buffett's company is grounded in the approach Cuban sees as key to the beneficial disruption brought by DAOs and could be seen as a forerunner of such organizations.

Mark Cuban predicts DAOs will transform companies. Warren Buffett's Berkshire Hathaway embraced the core ideas behind the latest crypto trend decades ago.

<ul class="summary-list"><li>The blockchain-based creative platform StoryCo is launching a new immersive storytelling concept.</li><li>People who sign up for a StoryPass (an NFT) can collect digital art and have creative control over "The Disco Ball."</li></ul>StoryCo, the blockchain-based creative platform from brothers Justin and J.P Alanis formerly known as Story DAO, is launching a new immersive storytelling concept — "The Disco Ball," billed as a "first-of-its-kind interactive narrative unfolding across <a href="https://story.co/" target="_blank" rel="noopener">the StoryCo site</a>, social media and real-world interactions." Kyle Killen, the original showrunner of the <a href="https://www.businessinsider.com/halo-producer-on-the-tv-show-journey-to-paramount-interview-2022-3">"Halo" series on Paramount+</a> (adapted from the Xbox game) and creator of Fox's "Lone Star," is the lead writer — or "story architect," in StoryCo parlance — on the project.The experience, which went live Thursday, is set against a glittering outer-space backdrop, as illustrated by artistic brother duo Shelby and Sandy. Participants solve puzzles along the way as lead character "Captain Alma Cooke and her team of astronauts on the International Space Station… are thrust into an existential journey to save the multiverse," StoryCo said. Like other Web3 storytelling projects, "The Disco Ball" is looking to build a community, and would-be participants are asked to sign up for a free StoryPass (read: NFT) that will allow them to collect digital art from the project. At the end of "Disco Ball," NFT holders "will assume control over the infinitely expanding Disco Ball universe." Those community members will have control not only over creative decisions but over each project's treasury, said Justin Alanis, which includes NFT sales, IP licensing revenue, and royalties. Half of all net revenue from projects like "Disco Ball" would then be split among the treasury's members after its story writers and creators are compensated.The "real-world interactions" available to StoryPass holders are being kept under wraps for now, but Alanis said that clues in the story are in "both physical and digital spaces that allow participants to interact with and help" the characters. The Alanis brothers are part of a new wave of storytellers looking to <a href="https://www.businessinsider.com/pitch-deck-storyco-blockchain-immersive-storytelling-nft-raised-6-million-2023-1">create direct relationships between creators and fans using blockchain</a>, though they are looking to use more layperson-friendly terminology as they do it. (Hence the term "StoryPass" instead of "NFT.") "The goal there is to show how amazing this new technology can be to incubate this intellectual property, and then gradually fuse in all of this Web3 technology to show how additional incentives, rewards, access ownership models can then be an accelerant to our underlying product market fit with the creators that we have on the platform," Justin Alanis told Insider. The Alanises' vision is attracting Hollywood traditionalists like Killen, who is also known for creating ABC series "Mind Games," starring Christian Slater, and NBC's "Awake," starring Jason Isaacs. The company has "created a pathway for an entirely new form of storytelling, allowing for a freedom of creative expression that previously didn't exist," said Killen in a statement. "I've long been looking for a way to immerse the audience more deeply into the story by making them a part of both the story and the creative process, and the technologies made available by StoryCo now enable that to happen."StoryCo also just raised $6 million in a seed funding round led by two VC firms — crypto-focused Collab + Currency and Patron, which is focused on "backing founders building towards an interactive and multiplayer internet," per its website.Among the round's other participants are Floodgate Ventures, Blockchange Ventures, Sfermion, and Flamingo DAO, plus angel investors Lloyd Braun, Sabrina Hahn, Packy McCormick, and GMoney, as well as other execs from talent agencies WME and UTA. "Despite Hollywood and the entertainment industry growing into such a massive business around original IP in recent years, the creative talent which help to imagine and bring these stories to life are often overlooked and excluded from the value they help to create," said Patron general partner Jason Yeh in a statement. "We believe that better models will emerge which help emerging creative talent to capture and share in the value around these IP."<h2><a href="https://www.businessinsider.com/pitch-deck-storyco-blockchain-immersive-storytelling-nft-raised-6-million-2023-1">Check out the pitch deck that helped StoryCo raise $6 million in seed funding for its blockchain-based collaborative storytelling platform.</a></h2>

StoryCo and 'Halo' showrunner team up to launch 'Disco Ball,' a blockchain-based immersive story that's a model for Hollywood's move into Web3

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A DAO is aiming to fund crypto projects in partnerships with some of the biggest names in higher education

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Mark Cuban predicts DAOs will transform companies. Warren Buffett's Berkshire Hathaway embraced the core ideas behind the latest crypto trend decades ago.

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StoryCo and 'Halo' showrunner team up to launch 'Disco Ball,' a blockchain-based immersive story that's a model for Hollywood's move into Web3

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