There are projects on the platform.
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With the rise of decentralization and the rise of distributed ledgers, the platform that helped jumpstart the likes of the NBA and the US constitution is moving to a distributed ledger.
"We are entering a significant moment for alternative governance models, and we think there's an important opportunity to advance these efforts using the blockchain," said the co-founder and CEO of Kickstarter in a Wednesday post.
A new company will be created by the company that has hosted pledges of more than $6 billion for projects since 2009.
When that's done, the website will move to the new system. Chen and Hasan wrote that open-source tools will be available for all.
There has been an increase in the amount of funds raised for specific projects. A group of people banded together to bid for one of the 13 remaining copies of the US Constitution at an auction last month.
The next phase of the internet known as web3 or the metaverse will have an "enormous impact" on DAOs, according to a16z.
Ali Yahya, a general partner at a16z, previously told Insider that a DAO "allows online communities to form, pool resources, and coordinate towards common goals - all run trustlessly via code." He said it was cheaper and faster to set up than an entity.
A white paper outlining the technology and plans for the protocol will be released by the company.
The founder of Citadel Securities was the winner of the auction.
Business Insider has an original article.
