The Decentralized Autonomous Organization of KAKA NFT World

4 min readOct 15, 2021

KAKA’s DAO has been officially online for about two weeks. In ensuring the appreciation of players’ assets and gaming experience, KAKA built a stable and sustainable NFT ecosystem for players through continuous actions.

What is DAO

DAO is the acronym for Decentralized Autonomous Organization. It is one of the essential features of crypto fields. As they are decentralized, they are not governed by a single entity, but instead by a host of different contracts, code, networks, and nodes. DAO emerged in recent years and is shaping up to become a major change to traditional management. It can ensure levels of privacy and security that are typically unavailable to blockchain actions, including transactions. Management based on a decentralized autonomous organization is called DAO management.

Decision-making of proposals from DAO is through a process written in open and transparent code. A decentralized autonomous organization’s financial transaction records and procedures are recorded and can be tracked on the blockchain.

Therefore, a DAO is an organization that is dominated by rules written by computers, not by people. It ensures that the information on the chain is secure, cannot be tampered with, and is more trustworthy and communal.

In terms of management, DAOs have huge differences when compared to traditional corporate structure. Traditional management has characteristics of a top-down centralized organization, where the power of speech is in the hands of specific people. DAOs break this characteristic and give every member the right to express themselves. All members have the opportunity to have their ideas and suggestions considered by the organization. By starting a discussion within the community, everyone can consider it based on set rules before deciding whether to join or not. In addition, as there is a fee for proposing and voting, members of the organization evaluate each decision more carefully and avoid wasting time on useless proposals, thus DAOs are therefore more efficient in this sense.

All rules and transactions of DAOs are recorded on the blockchain, ensuring open, transparent, and traceable information.

Why is KAKA Pushing For DAO

It is KAKA’s mission to ensure the future rights of players, have their assets increase in value, and finally to make gaming more profitable. The DAO system provides KAKA with a better understanding of the needs of its players and can offer more opportunities for the development of the ecosystem. The DAO system allows for the community to use public discourse to vote for desired features to be implemented. Players will be able to use their voices to push for the implementation of their favorite suggestions and create the preferred KAKA community environment.

What Does DAO Bring to KAKA’s Users

Judging by the success of some external projects, the new system will lead to a fairer and more democratic environment where players have more say when it comes to pushing and building the features they want and further turn their hopes into reality. In the long term, democratic autonomy will become the default rule. As new proposals are put forward and realized, the projects will become larger and more diverse.

How to Participate in DAO

KAKA encourages all users or NFT holders to participate in DAO by either putting forward a new proposal or participating in voting.

Make a New Proposal

To create a new proposal, one must fulfill the requirement that he or she owns 50 NFT cards from the IP series released by KAKA. Detailed instructions for creating the proposal are as following:

Step 1: Select the category (proposal or suggestion).

Step 2: Select the proposal period (proposal validation period can be seven or fifteen days).

Step 3: Enter the subject.

Step 4: Select the related events. By default there will be two options. However, there can be up to 4 options. There are no related events required to be filled in for suggestion type.

Step 5: Enter the description of the proposal.

Step 6: Submit the proposal.

After a proposal is submitted, the proposal/suggestion will be valid for voting during the selected duration/proposal period. The proposal/suggestion would be approved when the final vote for the proposal/recommendation is higher than the vote against it. After the conclusion of the vote, KAKA NFT World would then follow and execute the final result of the proposal.

2.Participation in Voting

Players who own IP series cards can participate in the voting. Owning one IP card will grant the user one valid vote per proposal/suggestion, regardless of the value of the IP card and its collection.

Note:

A new proposal cannot be created if a vote/proposal initiated by the same wallet address has not yet expired. A single user can only initiate a project proposal once a month, so please take proposal submissions seriously. KAKA moderators will delete proposals that include any inappropriate content and restrict the address’ permission to submit proposals. Every vote earned by owning IP NFT cards remains valid between proposals/suggestions.

With the launch of DAO, KAKA will build up a more open, democratic, and equal community where every proposal and vote made by every player will have an impact on KAKA’s future as a community.

About KAKA NFT World

KAKA NFT WORLD is a DEFI project of the world’s top NFT vertical game value ecology. We aim to build an experimental metaverse property with the entry of top IPs and esports games across the world. Through the application of NFT technology, we aim to open up the value exchange between the virtual world of encrypted assets and the real world. Through the value exchange, we can build a more practical Metaverse platform.