The concept of leveraging decentralized autonomous organizations (DAOs) is becoming very popular today, as countless DAO ideas have been created. A new DAO dedicated to buying fast food restaurants called Fries DAO has raised over $5.4 million to achieve this goal.

Fries DAO creator dreams of a "fast food blockchain empire managed by DAO"

Last week, Bitcoin.com News reported on a newly launched DAO that is attempting to acquire the NFL's Denver Broncos soccer franchise for $4 billion. Since 2016's Genesis DAO and subsequent hacks, the DAO concept has grown in popularity and security appears to be stronger.

Basically, DAOs are automated, decentralized and operated by the community's blockchain governance system. DAO's native tokens are typically used as shares in the governance voting process and to pay for goods, services and future goals.

A newly launched DAO called Fries DAO is trying to leverage the idea of DAO to buy fast food assets. The project describes itself as "a decentralized social experiment in which a cryptocurrency community builds and manages a fast food blockchain empire."

Fries DAO portal.

DAO has raised over $5.4 million in FRIES tokens that will be used for governance. After forming the vault, the program distributes FRIES tokens to participants. DAO plans to "negotiate with franchisees and brands to use the Fries DAO Community Vault to purchase well-known fast food restaurants."

The Fries DAO website explains the main objectives of the project.

What is the grand vision? Imagine a major fast food restaurant in every major city that comes to fruition because of your vote. Go to one near you, swipe your barcode fries DAO NFT, and get that free burger. Fist bump the guy next to you that does the same thing. Tell him you like the FRIES defi strategy he posted on Discord the other day. We’re making history.

Everyone is doing DAO today, FRIES tokens reward pledgers with KCHUP coins

Over the past few months, a number of DAO tactics have emerged, such as the group's attempt to purchase a rare copy of the U.S. Constitution, which ultimately failed. On February 7, Bitcoin.com News reported that the DAO wanted to purchase the 105,000 square foot One Bel Air mansion in Los Angeles.

A DAO recently acquired the irreplaceable token (NFT) art collection issued by Ross Ulbricht, as well as DAO's subdivision of Ulbricht's NFT. In addition, a large number of DAOs have been launched by cryptocurrency projects and blockchain platforms in the last 12 months.

Fries DAO plans to create irreplaceable token memberships. "We are looking to evolve the NFT membership into an NFT membership card with beautiful art and various features that make it a benefit such as food or discounts at Fries DAO network stores," the project's website details.

According to members of the team Discord channel discussing Fries DAO, community members initially wanted to buy a SUBWAY fast food restaurant. In addition, FRIES holders can pledge their tokens for more rewards and receive KCHUP token rewards. "Each FRIES token is a symbolic recognition of each 0.023088 USDC donation," the site states.

What do you think about Fries DAO and the project's goals? Let us know what you think about this cryptocurrency project in the review section below.

More popular news in case you missed it