Innovative DAO Brings a New Life to Mitoyo City's Shopping Streets
In a groundbreaking initiative, the Japanese company Gaiax is launching the nation’s first community shopping street DAO in the small town of Nio, located in Mitoyo City, Kagawa Prefecture. This project, known as "Minotake Street", aims to redefine the concept of a shopping district by combining the renovation of vacant buildings with decentralized autonomous organization (DAO) governance, allowing local residents and investors alike to participate in decision-making processes that shape their community's economy.
Over the past six years, Nio has transformed into a popular tourist destination, experiencing an astonishing 100-fold increase in visitor numbers, now drawing around 500,000 tourists annually. The town boasts the beautiful Chichibu Beach and has seen substantial local initiatives led by young residents and new settlers aiming to repurpose empty houses and revitalize commercial areas. This resurgence of the community has yielded over 100 new projects in five years and attracted more than 3 billion yen in private investments, reflecting a growing movement toward self-determined economic development.
At the heart of this project is the idea of "kyoujo" (mutual help) and "kinjyo" (neighborhood assistance), emphasizing the local social networks that foster collaboration and support. The Minotake Street project aims to make these communal values visible through the DAO framework, ensuring that economic interactions reflect the community's spirit and aspirations.
The DAO offers residents and participants a unique stake in economic decisions. Through a voting system, members will choose everything from tenant selection to reinvestment of revenues, fostering an environment where everyone's voice matters. Individuals who visit Nio at least twice will be granted voting rights, enabling a deeper engagement with local governance.
To facilitate this, Gaiax will utilize their proprietary platform "DAOX" to issue governance tokens, ensuring that members can easily engage in discussions and votes regarding the direction of community projects. This structure allows for an inclusive decision-making process that encourages participation from a diverse group of stakeholders, including urban dwellers, budding entrepreneurs, and those looking to relocate to the area.
The first initiative under the Minotake Street project is the renovation of "Kacchan’s House," a beloved local residence. This establishment will host a café, bar, and restaurant, creating a space where local and guest chefs can showcase their culinary skills on a rotating basis. In addition to Kacchan’s House, a boutique wine bar will cater to wine enthusiasts, and a coffee stand promising to fill the air with an inviting aroma will encourage daily foot traffic from locals and visitors alike.
The project will encompass three retail spaces that can adapt to host various local businesses such as bookstores, boutiques, and more, empowering locals to claim small ventures. Meanwhile, a dedicated accommodation space for DAO members will allow them to immerse themselves in the community, complete with shared living spaces and amenities, fostering communal ties through shared experiences.
The DAO model not only promotes social engagement but also aims to develop a self-sustaining economic ecosystem. Members of the DAO will enjoy various perks, such as accommodation vouchers and free drink offers at local establishments, creating a cycle of local support the city can thrive on. Furthermore, as the project expands and begins to generate profits, the DAO will democratically decide on dividend distributions among its members.
This initiative challenges traditional views that local economies are solely the responsibility of government entities or residents. Instead, it opens avenues for smaller investors to play a part in economic cycles, nourishing the community through micro-investments and diversified participation.
The Minotake Street project is not just confined to Nio but symbolizes a broader movement advocating for a more connected and participatory local economy. The project is designed to become a template for similar endeavors across Japan, evolving local economies from the ground up.
As Gaiax provides comprehensive support for DAO establishment and operation, it looks toward the future of community-based economics. With a target of raising 400 million yen and recruiting approximately 400 DAO members, the Minotake Street initiative is set to become a beacon of innovation and community spirit.
In summary, the collaboration of local residents, innovative uses of technology through DAOs, and the engagement of community members sets a new era for shopping streets in Japan, promising to preserve traditional communal values while creating a prosperous local economy.
Over the past six years, Nio has transformed into a popular tourist destination, experiencing an astonishing 100-fold increase in visitor numbers, now drawing around 500,000 tourists annually. The town boasts the beautiful Chichibu Beach and has seen substantial local initiatives led by young residents and new settlers aiming to repurpose empty houses and revitalize commercial areas. This resurgence of the community has yielded over 100 new projects in five years and attracted more than 3 billion yen in private investments, reflecting a growing movement toward self-determined economic development.
At the heart of this project is the idea of "kyoujo" (mutual help) and "kinjyo" (neighborhood assistance), emphasizing the local social networks that foster collaboration and support. The Minotake Street project aims to make these communal values visible through the DAO framework, ensuring that economic interactions reflect the community's spirit and aspirations.
DAO Structure and Community Involvement
The DAO offers residents and participants a unique stake in economic decisions. Through a voting system, members will choose everything from tenant selection to reinvestment of revenues, fostering an environment where everyone's voice matters. Individuals who visit Nio at least twice will be granted voting rights, enabling a deeper engagement with local governance.
To facilitate this, Gaiax will utilize their proprietary platform "DAOX" to issue governance tokens, ensuring that members can easily engage in discussions and votes regarding the direction of community projects. This structure allows for an inclusive decision-making process that encourages participation from a diverse group of stakeholders, including urban dwellers, budding entrepreneurs, and those looking to relocate to the area.
Revitalizing the Shopping District
The first initiative under the Minotake Street project is the renovation of "Kacchan’s House," a beloved local residence. This establishment will host a café, bar, and restaurant, creating a space where local and guest chefs can showcase their culinary skills on a rotating basis. In addition to Kacchan’s House, a boutique wine bar will cater to wine enthusiasts, and a coffee stand promising to fill the air with an inviting aroma will encourage daily foot traffic from locals and visitors alike.
The project will encompass three retail spaces that can adapt to host various local businesses such as bookstores, boutiques, and more, empowering locals to claim small ventures. Meanwhile, a dedicated accommodation space for DAO members will allow them to immerse themselves in the community, complete with shared living spaces and amenities, fostering communal ties through shared experiences.
Economic Benefits and Returns
The DAO model not only promotes social engagement but also aims to develop a self-sustaining economic ecosystem. Members of the DAO will enjoy various perks, such as accommodation vouchers and free drink offers at local establishments, creating a cycle of local support the city can thrive on. Furthermore, as the project expands and begins to generate profits, the DAO will democratically decide on dividend distributions among its members.
This initiative challenges traditional views that local economies are solely the responsibility of government entities or residents. Instead, it opens avenues for smaller investors to play a part in economic cycles, nourishing the community through micro-investments and diversified participation.
Looking Ahead
The Minotake Street project is not just confined to Nio but symbolizes a broader movement advocating for a more connected and participatory local economy. The project is designed to become a template for similar endeavors across Japan, evolving local economies from the ground up.
As Gaiax provides comprehensive support for DAO establishment and operation, it looks toward the future of community-based economics. With a target of raising 400 million yen and recruiting approximately 400 DAO members, the Minotake Street initiative is set to become a beacon of innovation and community spirit.
In summary, the collaboration of local residents, innovative uses of technology through DAOs, and the engagement of community members sets a new era for shopping streets in Japan, promising to preserve traditional communal values while creating a prosperous local economy.
Topics Consumer Products & Retail）
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