The creator of the largest meme cryptocurrency, Dogecoin, Billy Marcus, known as Shibetoshi Nakamoto, criticized DAOs for their structure and doubted their long-term viability. Billy Markus (Billy Markus) expressed doubt about decentralized autonomous organizations (DAOs), which function without central leadership. DAOs are governed by software code and a community that collectively makes decisions through voting on the blockchain. Such organizations use rules that are programmed into smart contracts to increase the level of transparency. However, the co-founder of Dogecoin wrote on X's social network that the DAO can be "crossed".
“DAOs are almost always pointless, they are doomed to fail because the so-called crypto-communities are mostly only interested in making short-term profits. Hype is valued more than real benefit, and no one has the motivation to create anything,” wrote Billy Marcus.
Marcus responded to a tweet by well-known venture capitalist Jason Calacanis, who expressed his support for non-fungible tokens (NFTs) and DAOs. According to the entrepreneur, they have been attracting him for a long time, and subsequently his opinion about collectible tokens and DAOs has not changed. Although a few years ago Calakanis stated that 99% of cryptocurrency projects are just garbage.
