---
# System prepended metadata

title: 'Chapter 3, Section 2: Web3 Communities'
tags: [Chapter 3]

---

# Chapter 3, Section 2: Web3 Communities

###### tags: `Chapter 3`

The web3 space is brutal. To survive bear markets and long-drawn recessions, you probably need a community to keep you afloat in bad times.

Perhaps it's time to join a web3 community.

**The Details**

Web3 Communities are versatile and serve different audiences.

There are free Discord/Telegram groups focusing on specific areas of web3. For beginners, you can begin there since most are free to join.

As you collect NFTs and Cryptocurrencies, soon enough, you would be part of a [[DAO]]. You can take part in governance and interact with like-minded holders in DAOs.

Beware of scam web3 communities! There are many malicious groups out there looking to cheat your money through Pump & Dump schemes.

## Terms To Nutshell

1. DAO

DAO, also known as Decentralized Autonomous Organization, is a group of people working together to achieve a targeted goal.

Most DAOs are token-gated, and only allow holders of their cryptocurrency or NFT to enter the DAO.

At Lil Nouns, anybody can enter our Discord, but holders of Lil Nouns can participate in other governance-related activities.

2. Pump & Dump Schemes

Pump & Dump is when a token's price is inflated unrealistically high very quickly, before tumbling all the way back down.

In most situations, the scammers are hyping a token causing many people to buy it. However, they sell a huge percentage of tokens shortly after, thereby crashing its price.

This is also called a "rug-pull" when scammers run away with the cash and cheat holders with false promises.