This month, former 2020 Democratic Party presidential candidate and New York mayoral candidate Andrew Yang unveiled the GoldenDAO — a decentralized autonomous organization (DAO) — devoted to Asian American and Pacific Islander issues.
Yang's DAO is focused on giving Asian American and Pacific Islander (AAPI) issues greater prominence and selling non-fungible token (NFT) memberships at $3,000+ apiece. Launched on the 1-year anniversary of the 2021 Atlanta spa shootings, GoldenDAO says its objective is to “collectively advance AAPI solidarity and empowerment through real-world events and gatherings, and Web 3.0 infrastructure and initiatives.”
"I’m someone who just wants to build as quickly as possible,” Yang told CoinDesk. "When I was running for president, one of the first communities to embrace my campaign was the crypto community," he said. "I think it’s because the people in Web 3.0 have a sense of optimism about the future and they know we’re going to need to do things differently."
In February, the former tech entrepreneur introduced his new Web 3.0-focused organization Lobby3, which works on advocating for a decentralized user-owned internet in Washington, D.C.
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Yang said the inspiration behind GoldenDAO was straightforward; Yang is among the most prominent Asian Americans in the country, and his friends and family often told him: “We should try to galvanize more people to address issues that are important to the [Asian] community.”
"One of the virtues of a DAO is that it’s going to be up to the community to decide how to invest time, energy and resources. But our hope is that members of the community will get excited about various projects and then put in time both through the DAO and as also perhaps as individuals. For example, if there’s a public awareness campaign, or mental health initiative, then the members of the DAO can invest part of the treasury in augmenting or amplifying that effort, and then come together to help it in a myriad of ways. You can use a DAO structure to express the popular will as to what efforts or initiatives to get behind."
"I think DAOs are wonderful in their potential to activate a large number of people, but also have the organization be directed by different people at different times," Yang added.