Chainalysis looked a DAO holdings of cryptocurrencies.
Chainalysis looked a DAO holdings of cryptocurrencies.
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Chainalysis: Web3 ownership of DAOs is surprisingly concentrated

  • Posted byby Dean Takahashi
  • Updated
  • 7 min

The ownership of decentralized autonomous organizations (DAOs), which manage Web3 projects, is surprisingly concentrated, according to a report by research firm Chainalysis.

Such DAOs are a staple of Web3, as founders invite community followers, users, and other stakeholders to get an ownership stake and a say in how Web3 projects are governed. But despite democratic principles, Chainalysis found fewer than 1% of all DAO holders have 90% of the voting power.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.