November 29, 2021

The DAO movement

Who's backing the DAO movement? We figured out the biggest names.

Imagine an internet community with a bank account (or, well, a cryptocurrency wallet). That in a nutshell is a DAO. DAOs, or decentralized autonomous organizations, are a creature of the crypto-universe that rocketed from relative obscurity to the mainstream just over the past week.

A large driver was media coverage surrounding ConstitutionDAO, a group that began as an internet joke which swiftly raised $40 million in an attempt to buy a rare copy of the U.S. Constitution.

We decided to leverage knowledge graphs in order to take a close look at DAOs, as well as similar and related decentralized blockchain-based entities. We compiled a list of the 50 biggest DAOs, as defined by their governance structure, which is based on smart contracts. We also looked at similar entities (it can be difficult to parse what exactly fits the definition of a DAO, as some entities simply call themselves “DAOs” or act like DAOs) and entities which support the DAO ecosystem.

We were able to determine a rough “who’s who” of major backers of DAOs and the DAO movement in general. The list includes many familiar names in the Web3 movement, along with some unusual ones. Want to know more? Read our story here .