Welcome everybody. Welcome Rachel. Thanks for being with us today. Hello GMGM. Thank you for having me, Dr. GM. Very excited to have you.
you. As I've said to you before, that was still remain a mystery to me. So I'm looking forward to this space. I'm excited that it's recorded to because I feel like when I go back and listen to it already, we haven't even talked yet. And for anybody that's curious to maybe get out
your notebooks and follow along. But welcome. Thank you for joining us today friends and thanks to our guests today. We are speaking with Rachel Rose and we are going to be talking about DAO's 101 is what we're going to be calling it. But if you could please
tweet the room out DM your friends and get in the mood for our chat with Rachel Rose that would be amazing. So first off I do I can't wait to get into it and start talking to you but before we chat I do want to do a little bit
of housekeeping. Firstly, there is info on NiftyKits V7 aside from Dark Mode. We've also added new apps, Sure to Earn, fee allocation, royalty update that you can install all to your NFT collection. Those details are pinned up top. And as always, please visit NiftyKit to learn
learn how you can use our tools to become a creator yourself. This space goes for about an hour, so if you do have time towards the end of the space and if folks have questions for Rachel, we're going to open at the floor, so hold your questions until then. And then a second friendly reminder that we host these spaces every week.
So join us back here on Thursday at 12 p.m. Pacific Standard Time, 3 p.m. Eastern Standard for our Mifty Kit Creator Spotlight with Extinct. So you won't want to miss that space. So with that, we are speaking with the incredible Rachel Rose about dowels, something I need to know more about.
the space expands before we dive in if you all can quickly take a moment and check out the pinned tweets above you can follow along as we talk today and Rachel please feel free to pin any additional things up top as well but welcome how are you today how has everything been going this week
I'm doing good just just super busy continuing to build through this market and through all these conditions we're facing. I went out to LA Tech Week yesterday. There was an opening night event with A16Z. I went to last night. So really just continuing to show up every day.
And continuing to meet people, learn more about the space, make new connections. I really thrive in the human centric part of Web 3. That's why I love Dow so much. And that's really why I initially got fascinated with Web 3 and took the full time plunge. That wouldn't have been possible for me without Dow.
It's kind of been an obsession of mine since I joined the space and I know for a lot of people a lot of people have come in for the art for the NFTs I happen to have come in through like the business side and really fixated on the organizational structure of dowels and the potential that could bring to help us shift our employment
structures to a more value creation and human empowerment focus structure. So anyway, I can learn out all day. Yeah, I know. This is why I love you because you get right into it. I want to back up for a second though. So you were at LA Tech Week. What can you give us a little summary of how that was for you?
Yeah, so does anybody here know Lisa you? She's a podcast host. She's also a really amazing event host in LA. Man, she just those amazing amazing events. I have her on as a speaker for Web 3 Wednesdays, which just also was a speaker on recently.
So yeah, she just threw this amazing event. It was the opening night event for LA Tech Week. I would say the vibe I got, it was a lot of VCs, a lot of people looking to fund projects. And it really wasn't a whole lot of Web 3 people, honestly. I started talking about Web 3 and you
Yeah, it's more like a tech focus conference, I would say. So not specific to web 3. That's cool. I like to hear that because I think like now as we're I know this is such a platitude, but as we're building and with three during this sort of
of low, I guess you would say, or bear market as everybody else is saying, I think that this gives us the opportunity to branch out and talk to people that are also not in Web 3. So that's really exciting to hear that and it feels like there's more potential there to build when you have time.
to talk, you know, when you're not so inundated like we were like last year and the year before. So I appreciate you sharing that and that sounds really cool. So for everyone who is joining Rachel is a human-centric builder and a daoist. She works with opalists and is the host of the
podcasts, cryptosapiens. And but on that, she has a very extensive resume. So Rachel, you have been both a diverse and you have both diverse and specialized backgrounds within Web 3 and Dow specifically, which I'm excited to learn about. But first,
Since you are a new guest, I would love for those of us who are just learning about who you are. It would be fantastic to hear in your own words about your IRL background and then just a little bit before you entered the Web 3 space and then a little bit of how you actually arrived in Web 3.
Absolutely, Jess. So yeah, I'm happy to talk about my story and what brought me here and Jess, as I've gotten to know you more, I know we have a similar background with going to art school. So I started my journey in New York. That's where I'm from. I went to FIT if anyone's familiar. I went, I studied fine arts, got my degree.
And yeah, I decided that I needed to change in my life. I really wanted to get out of New York and just move across the country. So I came to California and I was working for a bit just really trying to find my purpose and figure out what I wanted to do. Then the pandemic hit. So I was having this really introspective period.
And I discovered a philosophy called IcaGuy that anyone is familiar with the Japanese philosophy of your reason for being or your life's purpose. So that's big for me. For film in his big, life purpose is big. Knowing your why is at the center of everything I do. So I figured that out. I drew this bend diagram out. If anyone is familiar with
I kept thinking about this over and over just and I decided to start my own business. So I was doing a juice cleanse during the pandemic. I'm like, you know, people really need to get healthy right now. That's something we should be doing.
prioritizing it. It just made sense to me. So I started juicing. I'm like, you know, I could order some bottles and make a business out of this. So I did that. I started vending at Well, Mr. Treats, Music Festivals, Working with Clients, and my business really took off during the pandemic. Then I discovered Web 3 and Dow
I was like, "Cold up, this is just so much bigger than ourselves. This is a cultural, financial revolution that's happening before our eyes." So what I did is I actually just went full time into Dows. So I still have my business. I'm still actually using it for consulting now in the web
I have really dedicated my whole life to furthering the progression of DOWs of Web 3 technology. And I have zero technical background. I'm really here for the human side of things. I believe a lot of people in today's world lack fulfillment. I think a lot of people are lost a lot of people are lost.
a lot of people are confused. It's kind of a bewildering time to be in, right? The age of AI, the age of misinformation. Just so many things we're bombarded with day after day. And what I really love about DAO's is that it allows people to be celebrated. Their individuality can be celebrated.
can show up and work with a group of like-minded people in theory and have it be a collaborative effort. You know, you don't have a top to bottom structure where CEO is sitting you down, telling you what to do, nine to five, sitting at a desk. You get to show up and be you, and I love that. I love this.
is already starting in the direction that I think is really going to open up into my first question, which is what is a Dow? Can you share how you would just define that in a very basic way? So a Dow, if we're breaking down the term Dow, it's a decent
So I believe that Dow's, Dow's are a concept that have come to fruition with the rise of crypto and blockchain technology. And I really think this stems from a yearning for us to have ownership over our time, over our assets and over our energy.
And we're putting that. So a doubt really the word or the term that comes to mind is a social experiment, I think. And I think that was your social experiment because we really haven't nailed down exactly what it is because they're so fluid. They're so different. We have this generalized concept in our mind.
Those of us that work on dolls of like okay, this should be the core principles right there's a shared interest their shared assets and their shared responsibility I think those are our three core components of what a doubt should be right because if you break down the the meaning of dowel right a decent
There has to be some sort of organization. There has to be some sort of assets flowing through the Dow. There has to be people working towards a collective goal, managing these assets and managing the responsibilities collectively. So basically it's just like a new way to.
to operate a new business model. And yeah, if you can get into the nitty gritty terminology, if you guys look at my resources I shared, so I actually wrote an article, a medium article on, it's called Benefit of the Dow. So this really goes into what a Dow is.
core principles I was just discussing and also common denominators have doubt successes. So just observing douse over time, what has made them successful, which ones are successful and why? And then also there's a cheat sheet there. If you guys want to save that, just goes over all the basic terms and terminology you'll need to know.
That's great. I was just like us hurting that so I can go back and read it because that's super helpful. So I have a few questions. I'm just going to kind of go down the line. This is going to be a little bit different than our like more conversational spaces that I think a lot of people
I'm not sure if you're used to in the nifty kit room, but I think it's essential and I kind of want to hit all these things for the benefit of people listening now and listening back to this. So my first question is how does a Dow work on a blockchain?
So, you guys all know blockchain is a transparent distributed ledger of transactions. A DAO is an organizational structure that taps into that technology and uses something called a multi-signature wallet. So, is anybody here familiar with a multi-sign wallet? Like No, just say, yeah.
So, basically, the Dow will have some sort of treasury, some sort of asset, and ideally it would be on chain. Now, this is in theory. There are Dow's that, you know, what we've seen in this base is like, kind of these groups get together and tax the name Dow on them, and they don't actually have any assets they're managing.
So ideally, the Dow has some sort of asset. There's a multi-sig setup. That's like a true Dow. And basically to release these funds, this is like something I really love about Dow's. So rather than one person making all the decisions, this is a more decentralized flow, like rather than one person deciding where
the money goes and what initiatives they'll be supporting, there has to be a majority vote for where the funds go. So everybody has their wallet connected and these are the signers. So the Dow core contributors are going to be the signers and they all decide together through some sort of voting mechanism. They typically use something called staff
which is a Dow tool for voting. There's also a Dow house too, which I've used on some Dow's. So if you're whatever voting mechanism they choose, there's a ton of Dow tools out there. They vote and they sign using their wallet. So I'll give an example because this might be easier to understand. I work with the Dow
on something called the ambassador now when I first got involved in the space and we were doing events and when we wanted to pay a venue when we wanted to pay an ambassador for hosting an event, we all had to talk on our team calls and vote for this. So once we got consensus and had to be six out of nine votes, then we put
money through. So yeah, long answer there. Sorry. No, not at all. I think like the more detailed, the better. And this kind of DevTell is a bit into my next question that I was going to ask was, can you give us some examples of DOWs in the space that we may be familiar with?
but not know that they're actually dows, like NFT projects, for example, or just projects. Or communities that we're aware of. Yeah, some examples of dows that we're familiar with. Absolutely. So there's a couple that come to my mind. The first is going to be bank list out. So I'm pretty sure
Most people here if you're working in web 3 you know about bank list so bank list out is such an amazing starting point if you want to get involved with dowels It's just kind of a place where you can show up and join any guild learn about whatever you'd like I think the standard rate for pay is a thousand bank per hour and we'll get into tokenomics a little bit high level
level and how they relate to Dalles. But yeah, Bankless Dalles say is one. Another one is Uniswap Dalles. So Uniswap obviously created one of the most successful Dexes and also has a Dalles behind that making decisions and a really strong community on Discord. I've been following here and there. Let's see, get coined out too.
So they're more about quadratic funding, funding different projects. They're more like regen vibes, funding projects that provide some sort of utility and are also mindful of like planetary wellness. So let's get coined out if you guys don't know. Yeah, I'm trying to think of other ones.
I think of more, I'll let you know, I'm looking right now. Yeah, yeah, definitely that's helpful. What are your thoughts on, um, what was the one that is for? It's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's,#
We've never seen a project bring together so many people on a global scale to do good for our planet and they've created an event called Shelling Point. So I was a speaker at Shelling Point during East Denver. Something I noticed about the type of people that gravitate towards get going are people that are really passionate
about planetary wellness, about doing things that are mindful of sustainability, creating projects that combat our climate crisis and help our environment. And that's something I love. I feel like that's really at the forefront of my values as well. Like, you know, I love our planet. I want us all to make it. So I love that get coin is has cured
created this community that really cares about planetary wellness. That's amazing. I have heard a lot about Getcoin. A lot of people have been hosting spaces here and there about Getcoin and I think it's an amazing way to fund a lot of philanthropic endeavors that could have going on.