A DAO (Decentralized Autonomous Organization) is a new type of organizational structure characterized by transparent fund flows, no CEO management, and token voting rights. It includes various types such as protocol DAOs, venture DAOs, grant DAOs, and social/collectible DAOs, aiming to democratize ownership, disperse risk, and lower investment thresholds. However, DAOs face challenges such as regulatory vacuums, governance difficulties, and security risks. In the future, DAOs are expected to develop amid the Web3 wave, but related issues need to be addressed to achieve sustainable growth.