The unique aspect of W3 Fight Club is the fact that it relies entirely on its community. It is a community ran and managed fight club, with a decentralized governance model. What does this mean? The community is a key stakeholder and its role is essential. Community members are the decision makers. The community members need to be actively engaged in the decision-making process, and to be willing to contribute their time, resources and expertise to help the organization to achieve its goals.
DAO stands for Decentralized Autonomous Organization. It may sound complicated, but at its core, a DAO is simply a way for a group of people to work together and make decisions without needing to rely on a central authority or a traditional hierarchical structure. This is an exciting new way of organizing ourselves and our resources toward a common goal.
A DAO is run on a blockchain, and therefore is highly transparent. Instead of decisions being made behind closed doors, decisions can be made in a transparent and democratic way, through a voting process. In addition to participating in the decisions, every member can see every decisions and transactions that has been made by the organization.
The W3 Fight Club will be supported by a DAO running on the blockchain, that will allow our community to express their ideas and opinions through voting. The DAO structure will also allow us to align the incentives and interests of everyone within the community.
By working together in a decentralized and democratic way, we can build the fight promotion that truly represents our interests and goals.
W3 Fight Club is a membership-based organization. Anyone willing to be a part of this new organization will be able to do so by acquiring a membership token (more on that soon!). Hint: there will be many ways to acquire such token.
The membership comes in the form of a token, issued on the Ethereum blockchain.
The use of cryptographic tokens on the Ethereum blockchain is what will allow the fight club to adopt a decentralized governance model, and what will allow you and other members to call the shots.
We will release further details on the MFC Membership soon, stay tuned on our Discord channel.