We like to define VR City as a Perpetual Purpose DAO and a Purpose Driven Organization.

Its existence is focused on its purpose rather than pure economic return.

VR City is formed as a Web3 Entity or a Decentralized Autonomous Organization. This means its ownership is distributed among its token holders, who acquire governance and voting rights by participating in the DAO ownership in the form of platform tokens.

VR City is not a company, it's a Decentralized Organization, therefore it is public, accessible by anyone and its governance is controlled by its users.

VR City Governance

VR City is a DAO and by definition its ownership and governance are distributed among its citizens. In order to become a Citizen of VR City, users must acquire VRCITY Tokens. Each citizen holding VRCITY Tokens is allowed to vote on governance. The weight of a citizen vote is related to the tokens he holds at the time of voting.

In order to make the voting and governance process more fair and accessible to all, we are implementing the “square root voting” method, whereby the voting weight of a token holder is expressed in the value obtained from the square-root of the number of tokens held.