Summoning

A very common use case for a DAO is to pool resources and create a shared treasury for crypto assets. The DAO itself is able to hold the assets securely and no single member can access the funds, because the DAO treasury is secured via multisignature (so multiple members must sign a transaction in order for it to succeed). Thus members are able to pool resources, achieve larger investments and benefit from the intelligence of the crowd, while not needing to know and trust the other members, as would traditionally be required for such an endeavor. Since everything on the blockchain is immutably recorded and publicly visible, there is no danger of information asymmetry or fraud between the members. Generally in this type of DAO there are also safeguards that let people remove their assets from the treasury ahead of the implementation of a vote, so that no one is forced to financially support decisions they disagree with (this is also a safeguard against bad actors taking a controlling interest and forcing decisions on other members).

An example of a social DAO could be a group of friends that decide they want to vacation together regularly and would like to pool their assets to purchase a property in their preferred destination. Now they are able to collect payments from each member for the shared treasury to buy the property and later pay for maintenance and other running costs. To facilitate decision making, they create a governance token and everyone gets an equal share which represents X percent of the property. When decisions are to be made, voting is done via the blockchain (Fix the roof or get a new kitchen for instance). If a member wants to leave he now has the option to sell his share to another DAO member and thus transfer his voting rights, or to a non DAO member, if the other members agree to add this person to the DAO. This way there are far less legal complications than with a traditional approach, the group has more flexibility and the decisions made are fair, based on the voting scheme set while creating the DAO

This is a very promising example and we expect to see many more of these kinds of DAOs in the coming years, as the advantages are plain for anyone to see.A DAO includes members a lot more in their community by empowering them to participate in decision making, participate in the DAO profits or engage in incentivized work for the DAO. This is exactly what sports fans are looking for. Imagine that a fan can participate in decisions which players are hired, how training is done, or which strategies should be used! On top of that he can engage with the club by doing work for it like advertising and bringing in more members, creating content or helping with the community management and is rewarded with tokens from the DAO, which will rise in value if the club is doing well. This way it really becomes the fans club as he is deeply involved and participates in the successes and failures of the club.The definition of the governance structure is as flexible as the smart contract programming language allows, so it can be freely defined which members are allowed to vote on which decisions (can be based of elections, reputation or really any other kind of differentiation) and clubs can keep a roster of elite members which vote on high impact decisions and guide the club or everything can be voted on by the general members.