OdysseyDAO is a decentralized autonomous organization focused on educating, and onboarding, people into Web3 by providing free courses and articles.
However, for such a relevant concept, trying to understand Web3 can be rather exasperating. It can feel at times like an overly loose structure of an idea, with people piling in anything from cryptocurrencies to decentralized social networks. OdysseyDAO has tried to take the initiative to explain some of these tricky intricacies to the public, hoping to help smoothly transition regular people and techies alike into the new internet era.
What Is OdysseyDAO?
The project, which started out as a beginner's guide to crypto by Peter Yang, has become a community effort to provide the best online education about Web3. Yang, who also works as a product lead at Reddit, heads up content creation for Odyssey and has experience writing the “Creator Economy” newsletter.
Objectives of OdysseyDAO
As a tech concept of growing significance, there is an urgent need for people to better understand Web3 than they currently do.
OdysseyDAO looks to solve this knowledge gap between the public and experts by creating structured guides with concise, easy-to-understand articles on various topics related to Web3. Odyssey describes them as ELI5 guides, which stands for “explain like I’m five years old.”
With more people looking to enter the crypto industry than ever before, OdysseyDAO, which started with a community of 1,800 people, is now trying to onboard the next 1 million into the Web3 space, according to the founders. The community is primarily centered around Twitter and Discord.
Web3 and OdysseyDAO
On top of trying to help the public catch up with the pace of change in the digital domain, another goal of OdysseyDAO is to prepare people to enter the Web3 space. Odyssey lists jobs from companies and grants better access to users who have completed their courses. In addition, Odyssey gives its contributors shared ownership.
The subjects covered by group courses include the following:
- Intro to Web3: This course teaches how to buy cryptocurrencies and set up a wallet.
- NFTs: This course explains the process involved in how to buy, sell, and mint NFTs.
- DAO’s: This course shows users how they can build decentralized communities of their own.
- DeFi: This course instructs people on how to save, borrow, and invest crypto assets with DeFi protocols.
- Breaking Into Web3: This course serves as a more detailed guide to Web3 than the intro course
In addition to providing information on various Web3 topics, Odyssey continues to build its community by organizing virtual and IRL hangouts, workshops and community discussions with experts. The organization also offers a Web3 rewards program where participants get incentives for completing tasks assigned by the DAO.
How Is OdysseyDAO Funded?
To become a backer of Odyssey, people were asked to buy one of three NFT collections created with the Wanderers team:
- Voyager: 100 NFT artworks in the collection, each priced at 0.1 ETH. Voyagers were given 100 ODY. The entire collection sold out.
- Discovery: 30 NFT artworks in the collection, each priced at 0.25 ETH. Discoverers were given 250 ODY. The entire collection sold out.
- Genesis: 15 NFT artworks in the collection, each priced at 1 ETH. Holders were given 1,000 ODY, with 9 out of 15 artworks successfully sold. Top backers were given an extra special 1/1 NFT created by artist Motionscape.
Running the Project
Governance of OdysseyDAO
DAOs are built to ensure trustless decision-making. Like other groups of its kind, OdysseyDAO has put in place frameworks intended to help make governance accessible to everyone, rather than a select few.
To ensure the long-term continuity of the project, Odyssey launched the ODY token, which allocates governance responsibility to all its holders. Currently, there are 178 backers of OdysseyDAO.
The ODY tokens were issued during the crowdfunding, with none leftover for new members. The only way to obtain them now would be to purchase them from the original backers and have the governance rights transferred.