Why I Joined a DAO, and Why I Left | Friends With Benefits DAO

The video discusses decentralized autonomous organizations (DAOs), focusing on the speaker's experience with the Friends with Benefits community. It highlights the appeal of DAOs for community building and investment, but also addresses financial losses and environmental concerns. The speaker reflects on the challenges of finding a welcoming community and the volatility of crypto investments. Despite these challenges, there is continued interest in the evolution of Web 3 and environmentally friendly crypto options.

What is a DAO primarily built on?

• A centralized server

• A cryptocurrency or blockchain

• A traditional bank

• A government network

What was the main reason the narrator joined the Friends with Benefits community?

• To gain financial profit

• To become a blockchain developer

• To explore community and shared values

• To learn about stock trading

Why did the narrator decide to leave the Friends with Benefits community?

• The community was too welcoming

• Lack of personal connection and financial loss

• The community was too small

• The token value increased significantly

What environmental concern is associated with cryptocurrencies?

• Air pollution

• High water usage

• Excessive land consumption

• High energy consumption

What change in Ethereum is mentioned as being more environmentally friendly?

• Switch from tokens to fiat currency

• Switch from proof of work to proof of stake

• Switch from blockchain to centralized servers

• Switch from proof of stake to proof of work

What is a major risk associated with investing in cryptocurrencies according to the narrator?

• Low transaction fees

• High volatility

• Government regulation

• Lack of community

What is the narrator's ongoing interest in Web 3 focused on?

• Finding environmentally friendly options

• Building a centralized network

• Developing new cryptocurrencies

• Creating a new DAO