You download the app and activate it via Discord or Telegram, which allows you to chat to the bot via the pre-existing user interface.Ĭommands govern things like the amount of tokens that will be minted, what kinds of tokens will be minted, whether the chat will be open only to friends or to the wider public, and more complex variables pertaining to the given organizational structure of a DAO: How many votes a token confers, for instance, or how many tokens entitle a holder to a given role within the DAO, or even which blockchain the DAO (or general crypto chat) will run on.Īfter these instructions are fed into the bot, it will proceed to take care of everything, automating the running of the DAO.
#Define collaboratory software
How does Collab.Land work?Īt the outset, Collab.Land works rather like any typical software add-on. Vulnerable to scammy imitators who simply drain the users’ wallets. Though Collab.Land itself is safe, this has made users Members of crypto chats using Collab.Land have to manually connect their wallets to the software. But its longer-term goal is far loftier, and its mission statement is to “reignite an era of shareware that is community-owned and operated” and to “iterate towards a sustainable open source business model.” It offers a range of commands around group dynamics, public addresses, and token mints. In its simplest form, Collab.Land is a bot that a would-be moderator of a Discord of Telegram-based crypto community can download as an add-on. What is Collab.Land?Ĭreated under the auspices of Abridged, Inc-a company founded by Anjali Young, a Web3 entrepreneur and collaborator with major DAOs MolochDAO and MetaCartel- the software was designed to make the experience of setting up a DAO and governing the tokenomics easy and safe for users and moderators alike. The problem is that managing these large groups and coordinating the tokenomics, which can often involve astronomical sums of money and a sensitive repository of personal data, can be hugely difficult. And almost all of them make use of two major communications channels to communicate: Telegram and Discord. Today it seems there’s a DAO for every new, heavily marketed token launch in existence: There are DAOs for artists, fundraisers, even social media influencers. Take the Bored Ape Yacht Club, which entitles holders of the wildly popular Bored Apes NFTs to various (often lucrative) perks and memberships in decentralized autonomous organizations, or DAOs. The most recent wave of crypto hype has centered around various denominations of crypto “communities” in which tokens-be they NFTs or something else-represent a stake in or ownership of a collective enterprise.
#Define collaboratory free
Collab.Land is free to use and features a wide range of prominent crypto communities, including identity-management project POAP and Fox Entertainment.Created by a veteran of several major DAOs, Collab.Land is a chatbot that makes it easy to set up and run group chats powered by tokenomics.
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