Croatian music fest launches NFT ticketing, aiming to become world’s first DAO festival
Slated for August 2021 on Pag, Circus Maximus festival is taking a unique approach
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Circus Maximus is set to become the First DAO (Distributed Autonomous Organisation) approach festival in the world.
What exactly does that mean?
A DAO is based on rules encoded in smart contracts, which can be organised around common goals or interests. Most DAOs are - at least currently - focused on finances, but Circus Maximus is aiming to change that. One day, Circus Maximus plans to apply a smart contract to the festival budget. In effect, that means the community (in this case, music fans) will have the main say - about everything from venue location to performers, plus how and where the budget will be distributed.
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