Realms has been engaged in crypto governance for nearly as long as Solana (SOL) itself. Under the new leadership, the goal is to start turning profits.

The governance hub for crypto applications, which focuses on voting, decision-making, and treasury management, is now managed by an organization named Realms Today Trust. This big shift follows its development under Solana Labs, aimed at providing startups within the Solana ecosystem a platform for political management.

"We need to develop profit services, that way we can continue it," said Dean Pappas, a long-time contributor to Realms and one of the four leaders of this spinoff.

Realms' new strategy will not affect the essential services utilized by numerous Solana-based decentralized autonomous organizations (DAOs). Pappas reassured that governance tools allowing communities of token holders to influence their operations will continue to be free.

Upcoming features for Realms include a crypto-advisory service tailored to assist DAOs in establishing governance structures and an incorporation advisory line aiding in creating necessary legal frameworks and banking solutions. Additionally, they will offer a credit card service for expenditures from crypto-treasuries.

Realms also intends to allocate $200,000 in grants to empower emerging DAOs within the Solana ecosystem. However, details concerning the source of these funds remain undisclosed.

Transition to New Ownership

This transition is not unprecedented; Metaplex, which supports Solana's non-fungible token (NFT) initiatives, also emerged from Solana Labs. According to Matty Taylor, an experienced participant from Labs, "The general ethos of Solana Labs is once things reach a certain stage, it's time for it to stand on its own."

The new legal structure is wholly owned by Solana Labs’ DAO engineer Sebastain Bor, with Pappas and Jose Neif Jury appointed as directors of the newly formed entity, Realms Today LTD.

As Realms expands, it currently employs 12 full-time staff members with plans for further growth, aiming to create tailored interfaces for varied tokenized governance applications, moving away from the previous uniform website design.

Additionally, Realms contemplates making modifications to Solana's governance protocols for SPL tokens, with plans to fork the open-source codebase, which is available to the public.