The DAO is a decentralized "venture" fund based on the Ethereum blockchain. It is meant to invest in projects and collect rewards for investors.

The amount raised 9 days into the fundraiser already makes it the #2 largest crowdfunded project. https://en.wikipedia.org/wiki/List_of_highest_funded_crowdfu...

More on DAOs: https://www.ethereum.org/dao

Post never took off, but 4 days later it's at $76M. 14 days to go still.