Reno, the closest major city to the popular Burning Man art festival, is developing its own decentralized independent organization, or DAO, and is a token partner of Tezos.
Mayor Hillary Chevy announced the city’s plans for a Reno DAO on Thursday’s Tez Talks podcast hosted by the Tezos Commons Foundation.
Schiff said the city will build Reno DAO and Reno Coin on the Tezo blockchain network to invest art and artwork, and will explore the potential benefits of blockchain and cryptocurrencies to meet some of its biggest challenges.
As part of this plan, the city also plans to digitize Burnt Man’s artwork as non-refundable tokens, or NFTs. According to Shiva, the city of Renault will create the first NFT Sculpture of the Burning Space Whale, the first piece of art for the Renault Festival. The mayor said converting artworks into NFTs would help the city make money and support local art, in addition to serving as a springboard for the massive adoption of cryptocurrencies:
“It will take a long time and we know that […] but ultimately there will be a trend that residents want, and I think you also need to walk before you can run. There are very simple ways to build community. Start using cryptocurrency to pay for things like exchange. Health. ”
Theodore Clapp, a local university researcher who helped develop the original Reno DAO project, chose the Tezo ecosystem to create the project. Clapp explained that he believes Tezos are best suited to DAOs in terms of resources and frameworks. So I finally settled on Tezos, the researcher said, explaining:
“I’m not biased, nor do I like extreme Tezos or whatever. I just went to CoinMarketCap and went to the list to explore the various blockchains and technologies that were available for true DAO development because I was trying to find the best platform. For scalability, fees and long-term sustainability.”