Rap group Wu-Tang Clan poses for a portrait on May 8, 1993, Staten Island, N.Y.

DAO stands for “decentralized autonomous organization” – a kind of investment group built around shared ownership of a cryptocurrency.

6 co-founder Jesse Grushack told CoinDesk in an interview that he and his partners brought the idea to PleasrDAO earlier this year.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups