Will DAOs replace Corporations?

I first heard about NounsDAO from this tweet:

My first thought: this is word salad and I have no idea what it means.

My second thought: I am amused by the idea of a pseudonymous founder who identifies as a CryptoPunk NFT that he owns. Kids these days!

Then I found out this project, NounsDAO, has in less than two months amassed a community-controlled treasury worth $20M, growing by roughly $500K a day. (My third thought: What!?? I am ngmi 😭)

Here’s how it works.