V. Competitive Analysis

Competitor 1
Competitor 1 is a set of solutions that aims to simplify DAOs and digital community management. The future of Web3 is based on the growth and participation in Digital communities and people coming together from all over the globe for common goals. This process is complicated in its current form due to a lack of context-building and shared information. The company’s onboarding tool is designed to address this problem by offering a plug-and-play solution that can easily be deployed for new community members. Community leaders can now decide the user's journey based on their role, skillsets, and interests. They can also request curation using gating features such as NFT gating or interview gating.

Competitor 2
DAOs give power directly to the people. Competitor 2 will help pave the way for a future where magic internet communities unlock human-centric coordination's power. Community grants were the first significant use of DAOs. Millions of dollars have been raised and distributed to the early developers of this technology. Competitor 2 is a prime example. Every community initiative can now be funded using the company’s platform.

Competitor 3
Competitor 3 is an open-source project that promotes technology and decentralized governance. The company believes that DAOs have the potential to bring people together. Competitor 3 allows projects to govern themselves seamlessly, allocating shared resources and making efficient decisions at scale. DAOs are designed to manage existing assets and work towards a common goal. DAOs that contain physical spaces such as co-working spaces or condominiums. DAOs unite large coalitions to work on issues such as legal protection and environmentalism.  

Strengths

• Platform offering convenient DAO creation services.
• The Company will have a stronghold on its customer base.
• No-fee services are enabled by low-cost cutting-edge technology used.
• Cost-efficient solution
• Less transaction time
• Ease of operations

Weakness

• Digital illiteracy among the target market

Opportunities

• Setting up full-fledged operations will bring in more customers and increase transactions.
• Partnering with leading brands of the domain to offer certain perks to customers will also attract new accounts.
• Government support
• The growing use of the internet and mobiles.
• Growing investment in the blockchain industry.

Threats

• The entry of new DAO creation platforms in the US will impact the business.
• Data breach