Hacker News Reader

Interestingly it was a dao that purchased the NFT [0].

[0] https://decrypt.co/66933/why-this-dao-bought-snowden-nft

It's more self-promotion by the crypto industry. No, your friends and family aren't rushing out to buy an NFT.

I agree that "my friends and family aren't rushing out to buy NFTs", but what makes you think it's self promotion? I honestly think it's pretty neat that a collection of random people were able to pool capital and "invest" in stuff without forming a business, opening a bank account, etc.

I actually don't think that is what happening. I think these DAO's are promotional vehicles to drive an increase in hype and price of the underlying tokens on NFT platforms. There are going to be suckers that come along and help the promoters expand the market.

There are technology gaps like Optimism that are funded by VC's. This is a promotional gap funded by... who knows? But it's likely a fund.

Reply on news.ycombinator.com