The Austin crypto scene is on the rise, thanks in part to the efforts of ATX DAO. ATX DAO, short for Austin Token Exchange Decentralized Autonomous Organization, is a local DAO working to unite Austin’s crypto communities, enable artists and local businesses to participate in the crypto ecosystem, and educate the government about the benefits of Web3.
But what exactly is a DAO? A DAO, or Decentralized Autonomous Organization, is a type of organization that is run by code rather than people. This means that decision making and governance is done through smart contracts on a blockchain, rather than through traditional leadership structures. This allows for a more transparent and democratic form of organization, where all members have an equal say in the direction of the organization.
ATX DAO is a democratic group of crypto enthusiasts building a cohesive network of developers, artists, investors, and crypto professionals. The DAO organizes social events, provides web3 expertise to the local government, and assists in the creation of new web3 projects. The organization is also focused on educating policymakers, driving good crypto legislation, and ensuring blockchain innovation stays in Austin, Texas and the country.
One of the organization’s major events is the ATX DAO Pitch Competition, which was held on January 21st of this year. The competition was created to turbo-charge Web3 innovation in Austin by giving start-ups and entrepreneurs a platform to share their projects while building relationships with a network of mentors and investors and competing to win prizes to fuel their mission.
This year’s competition was a great success. Twenty companies were selected as semi-finalists on December 30, 2022 and won the chance to meet one on one with Web3 industry mentors.. The semi-final and final round took place on January 21, 2023 with Riley Stephens from DEXANI, winning the event. Dexani’s primary mission is to protect traders from getting scammed through the use of their SecurityEngine v1 trading platform. Computis and The Creation DAO took second and third respectively. ATX DAO also has other events coming up, so be sure to check out their website and subscribe to their calendar for updates.
Overall, ATX DAO is playing a vital role in driving Web3 innovation in Austin and bringing the local crypto community together. By fostering a network of developers, artists, investors, and crypto professionals, ATX DAO is helping to ensure that Austin remains at the forefront of blockchain technology and innovation.