{"id":"metadao","version":1,"language":"en","title":"MetaDAO","hidden":false,"content":"**MetaDAO** is a [decentralized autonomous organization](https://iq.wiki/wiki/dao) (DAO) that utilizes the concept of futarchy. Futarchy is a system where an organization is governed by a market. [\\[1\\]](#cite-id-gt4qp46ie7)[\\[2\\]](#cite-id-72bdurmib4c)  \n  \n# History  \n  \n## Futarchy  \n  \nFutarchy is a form of government proposed by economist Robin Hanson, in which elected officials define measures of national well-being, and prediction markets are used to determine which policies will have the most positive effect. It was named by The New York Times as a buzzword of 2008. [\\[3\\]](#cite-id-dcanzh7sewf)  \n  \nFutarchy uses prediction markets to guide decision-making. Instead of directly voting on policies, participants bet on the potential outcomes of proposed actions. The market then aggregates these bets, collectively forecasting the outcomes. Meta-DAO applies this concept with conditional tokens, which represent bets on specific policy outcomes. [\\[3\\]](#cite-id-dcanzh7sewf)  \n  \n## Overview  \n  \nMetaDAO was launched by pseudonymous founder Proph3t[\\[6\\]](#cite-id-qrq3qi9clw) on November 8, 2023, with an [airdrop](https://iq.wiki/wiki/airdrop) to \\~65 people and a treasury of $10,000. [\\[4\\]](#cite-id-vkjva0irwb)[\\[5\\]](#cite-id-25ojzewrlcf)  \n  \n> \"I am as convinced as ever that this is an experiment worth conducting. For that cosmic flash of the pan that I’m given to live, I can think of no more glorious task than improving human coordination.  \n>   \n> And futarchy, dreamed up by Robin Hanson but put into practice by us, feels like it has a decent chance of doing so. By participating in the Meta-DAO, you and I have the opportunity to contribute to something much greater than ourselves: the ascent of humankind.\" - founder Proph3t wrote in a blog[\\[7\\]](#cite-id-a1rufkttghd)  \n  \nMetaDAO is an experiment exploring the potential of futarchy in decentralized governance. Although challenges exist, the potential benefits — aligning incentives, aggregating wisdom, and fostering long-term thinking — make it a model for exploring alternative pathways towards more effective and efficient decision-making. [\\[3\\]](#cite-id-dcanzh7sewf)  \n  \nMetaDAO is a multifaceted project building an entire open [metaverse](https://iq.wiki/wiki/metaverse) ecosystem. Its core concepts include;  \n  \n### Open Metaverse  \n  \nMetaDAO aims for an open and permissionless metaverse infrastructure accessible to anyone and built on decentralized technologies. [\\[3\\]](#cite-id-dcanzh7sewf)  \n  \n### Decentralized Governance  \n  \nThe DAO aspect empowers community members to participate in decision-making through token-based voting mechanisms. [\\[3\\]](#cite-id-dcanzh7sewf)  \n  \n### Multi-Layer Ecosystem  \n  \nMetaDAO encompasses various layers including Metacraft - a browser-based virtual world builder for constructing immersive experiences, Metaverse NFTs - representing virtual land, avatars, and in-game items within the Metacraft world, MetaFi - Financial tools like a [DEX](https://iq.wiki/wiki/decentralized-exchange) and DAO treasury fostering economic activity within the ecosystem, and finally, Metaversity - educational initiatives and grants to promote [metaverse](https://iq.wiki/wiki/metaverse) development and adoption. [\\[3\\]](#cite-id-dcanzh7sewf)  \n  \n## Funding  \n  \nIn August 2024, MetaDAO raised a total of $2.2 million led by [Paradigm](https://iq.wiki/wiki/paradigm) to fund operations. The round came as the 2024 elections were putting a spotlight on crypto's popular prediction markets. The spotlight around prediction markets gave MetaDAO an edge in fundraising, Proph3t, MetaDAO's pseudonymous founder, told [CoinDesk](https://iq.wiki/wiki/coindesk) in an interview. He said his pitch to investors highlighted the similarities:   \n  \n> “'If we see Polymarket as a machine then it made sense to me that we’d want to use a truth machine to make decisions.'\"[\\[8\\]](#cite-id-p7d3hmnmyon)  \n  \n# Technology  \n  \nMeta-DAO operates on the [Solana blockchain](https://iq.wiki/wiki/solana). Anyone with a compatible wallet can purchase the governance token, META. Holding more META tokens allows proposing and voting on policies through conditional tokens. These “bets” require locking up META tokens, incentivizing informed participation and alignment with long-term value. [\\[3\\]](#cite-id-dcanzh7sewf)  \n  \n<br>  \n<br>  \n","summary":"MetaDAO is a decentralized autonomous organization that employs futarchy, using prediction markets to guide decision-making through outcome-based bets.","categories":[{"id":"daos","title":"DAOs"}],"promoted":0,"tags":[{"id":"Organizations"},{"id":"Solana"}],"metadata":[{"id":"references","value":"[{\"id\":\"gt4qp46ie7\",\"url\":\"http://metadao.fi/\",\"description\":\"website\",\"timestamp\":1724416675395},{\"id\":\"72bdurmib4c\",\"url\":\"https://x.com/MetaDAOProject\",\"description\":\"x profile\",\"timestamp\":1724416771385},{\"id\":\"dcanzh7sewf\",\"url\":\"https://medium.com/@Zengiverse/meta-dao-redefining-governance-through-futarchy-0b0685affdc3#:~:text=Meta%2DDAO%20%E2%80%94%20The%20Meta%2D,the%20radical%20concept%20of%20futarchy.\",\"description\":\"Meta-DAO: Redefining Governance Through Futarchy\",\"timestamp\":1724419130689},{\"id\":\"vkjva0irwb\",\"url\":\"https://blog.metadao.fi/the-story-of-proposal-3-33a6d766a3da\",\"description\":\"The Story of Proposal 3\\n\",\"timestamp\":1724422051431},{\"id\":\"25ojzewrlcf\",\"url\":\"https://x.com/MetaDAOProject/status/1713671876805824549\",\"description\":\"launch tweet\",\"timestamp\":1724422285416},{\"id\":\"qrq3qi9clw\",\"url\":\"https://x.com/metaproph3t\",\"description\":\"x - proph3t\",\"timestamp\":1724422311671},{\"id\":\"a1rufkttghd\",\"url\":\"https://blog.metadao.fi/some-personal-reflections-on-the-launch-5ee3989d97db\",\"description\":\"personal reflections\",\"timestamp\":1724422519836},{\"id\":\"p7d3hmnmyon\",\"url\":\"https://www.coindesk.com/tech/2024/08/01/crypto-vc-paradigm-invests-in-metadao-as-prediction-markets-boom/\",\"description\":\"Crypto VC Paradigm Invests in MetaDAO as Prediction Markets Boom\",\"timestamp\":1724422871002}]"},{"id":"website","value":"https://metadao.fi/"},{"id":"twitter_profile","value":"https://x.com/MetaDAOProject"},{"id":"discord_profile","value":"https://discord.gg/metadao"},{"id":"github_profile","value":"https://github.com/metaDAOproject"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/meta-dao/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/meta-2"},{"id":"solscan_profile","value":"https://solscan.io/token/METADDFL6wWMWEoKTFJwcThTbUmtarRJZjRpzUvkxhr"}],"user":{"id":"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb"},"author":{"id":""},"media":[],"views":0,"events":[{"title":"Date Launched","description":"MetaDAO was launched in November 2023","link":"https://blog.metadao.fi/the-story-of-proposal-3-33a6d766a3da","date":"2023-11","type":"DEFAULT"},{"title":"$2.2 Million Raise","description":"In August 2024, MetaDAO raised a total of $2.2 million led by Paradigm to fund operations","link":"https://www.coindesk.com/tech/2024/08/01/crypto-vc-paradigm-invests-in-metadao-as-prediction-markets-boom/","date":"2024-08","type":"DEFAULT"}],"linkedWikis":{"founders":[],"blockchains":[],"speakers":[]},"founderWikis":[],"blockchainWikis":[],"images":[{"id":"QmcmmoVXNGhKDEpJVy6S6zHuF1rnbAHoPbaSBTUftPNurP","type":"image/jpeg, image/png"}]}