Back in 2016, crypto fans moved away from decentralized autonomous organizations, or DAOs, in blockchain tech. The hack of Ethereum’s (CCC:ETH-USD) DAO network scared many away from the idea of the governance organizations. However, it appears that developers are coming back around to DAOs. More and more governance tokens are popping up, such at the Shiba Inu (CCC:SHIB-USD) network’s upcoming Bone token and the Venus (CCC:XVS-USD) token. Full-fledged DAOs are also coming back into vogue, let by networks like District0x (CCC:DNT-USD). District0x price predictions are heating up as well with the increase in DAO demand.
District0x is a DAO community built around the development of decentralized platforms. The company calls itself a “network of decentralized marketplaces and communities,” and is segmented by “districts.” These districts operate on Ethereum smart contracts and are built around the network’s own dx0INFRA framework.
There are currently three districts, and a fourth is in planning stage currently. As a DAO network, users have the power to govern decisions over the network, like what the fourth district’s name and function will be. Users vote with DNT, the governance token of the network. These voting rights are just the beginning; the developers hope to foster an entirely decentralized organization in the future.
There will be no ultimate central authority when the project is fully developed.
District0x (DNT) Price Predictions: Should Investors Go Big on DAOs?
DNT is doing wonderfully today. The token is up 46%, to a price of almost 18 cents. Trading volume is up a gigantic 3,200% today as well. Are investors truly embracing DAOs once again? Could District0x be one of the biggest leaders of the network class?
Well, let’s take a look at some District0x (DNT) price predictions and see what the analysts think:
- DigitalCoinPrice thinks DNT will keep climbing. By the end of the year, they predict the token to find a 26-cent valuation.
- Gov Capital thinks growth is in store for DNT, but it will be slow. The outlet predicts that 12 months from now, the token will be worth 20 cents.
- Trading Beasts is similarly predicting stagnant prices for DNT into the future. By December 2021, the outlet believes DNT will only grow 1 cent.
- WalletInvestor is quite bullish on DNT. The outlet forecasts a price of 40 cents for DNT by June 2022.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.