Exclusive clubs called ‘DAOs’ are popping up online. What’s it all about? | Geoffrey Mak | The Guardian

"Not every DAO mints its own currency, but ... Friends With Benefits,,, [has] $FWB... minted on the Ethereum blockchain... Membership: 75 $FWB... only one million $FWB tokens... When I first heard about Friends With Benefits this year, membership was already valued at $350. Today, it’s over $9,000."

... like most DAOs, grants one vote per token, instead of one vote per person... profoundly undemocratic... tokens are also granted to members whose comments on Discord receive the most engagement."

While "most DAOs are simply devoted to trading assets... FWB professes cultural pretensions... owners can "mingle with artists on its Discord server, the café to the Enlightenment philosophers".

But, of course, you don't need cryptocurrency to do that.