Solana

Metaplex

After years of laying the foundation for decentralized governance, Realms, the core governance hub built on <a href="https://thecoinrise.com/solana-poised-to-challenge-ethereum-as-institutions-explore-new-blockchains/'" rel="noopener noreferrer nofollow">Solana</a> (SOL), is ready for its next phase. With a new management team, Realms is steering towards profitability.&nbsp;
However, the crypto-governance hub will continue to serve the Decentralized Autonomous Organizations (DAOs) that depend on it. Notably, this transition marks more than just a change in leadership. It is a strategic move to capture untapped potential in crypto governance.
<h2 id="b-realms-to-pioneer-profit-in-crypto-governance-b-span-style-font-weight-400-span">Realms to Pioneer Profit in Crypto Governance&nbsp;</h2>
Realms has been the go-to platform for crypto apps to make decisions for almost as long as Solana has existed. It manages its treasuries and allows token-holding communities to vote on critical matters.&nbsp;
But now, the platform is under new management and is called the Realms Today Trust. This spinoff from Solana Labs will be led by a dynamic team of four, including long-time contributor Dean Pappas. In a press release, Pappas signaled that this development was geared towards sustainability.&nbsp;
He stated that Realms has provided free governance tools to DAOs, and this service will remain unchanged. However, the new leadership is introducing paid services. He noted that this is a shift from the platform’s focus from being a public utility to becoming a revenue-generating business.&nbsp;
<h2 id="b-building-new-services-to-capture-unexplored-value-b-span-style-font-weight-400-span">Building New Services to Capture Unexplored Value&nbsp;</h2>
Realms will be expanding its offerings to remain relevant and sustainable. Its first move will be launching a crypto advisory service to help DAOs with governance, legal issues, and banking. The platform plans to roll out a credit card, allowing DAOs to spend their crypto treasuries more easily.&nbsp;
These initiatives aim to capture part of its platform’s $1.5 billion DAOs. Realms will offer $200,000 in grants to support new Solana-based DAOs, which shows its commitment to fostering innovation in the ecosystem.
The platform revealed it plans to develop customizable governance interfaces for DAOs, moving away from its current one-size-fits-all approach. Additionally, it plans to fork Solana’s governance standard for SPL tokens, aiming to create new governance innovations that could further enhance <a href="https://thecoinrise.com/powerledger-expands-into-solana-ecosystem-aiming-to-boost-sustainability/" rel="noopener noreferrer nofollow">Solana’s ecosystem.</a>
<h2 id="b-embracing-independence-in-solana-a-norm-b">Embracing Independence in Solana, a Norm</h2>
Realms is following in the footsteps of Metaplex, Solana’s NFT technology powerhouse, to become an independent entity in the Solana ecosystem. In 2021, <a href="https://thecoinrise.com/adam-jeffries-former-google-dev-now-the-ceo-of-metaplex-nft-marketplace/" rel="noopener noreferrer nofollow">Adam Jeffries, a former developer at Google, became the CEO of Metaplex NFT marketplace</a> after it became independent.&nbsp;
Pappas explained that Solana Labs’ rule is that projects should stand alone once they grow enough. Realms Today LTD, the new company, is now owned by Sebastian Bor, a DAO engineer from Solana Labs. Other important leaders, like Jose Neif Jury from BCB Group, have also joined. Meanwhile, the Solana community is left guessing if Bor had to buy Realms from Solana Labs.&nbsp;
The post <a href="https://thecoinrise.com/realms-to-redefine-solanas-governance-hub-into-a-profit-powerhouse/" rel="noopener noreferrer nofollow">Realms to Redefine Solana’s Governance Hub into a Profit Powerhouse</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Realms to Redefine Solana’s Governance Hub into a Profit Powerhouse

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