Abstract:  Metaverse is not only the core of the future digital economy, reconstructing and reshaping the Internet industrial structure and digital economic structure, but also exerting a fundamental impact on the entire economic system, including the industrial economy. The development of Metaverse has a bearing not only on the building of a cyberspace community of shared future, but also on innovation and entrepreneurship. Technological innovation brings about a huge change in governance system. The emergence of DAO (Decentralized Autonomous Organization) in particular, not only poses a huge challenge to the company system based on the industrial economy, but also provides solutions for the reconstruction of the organizational model of the digital economy. It is advisable to explore brand-new models such as data benefit distribution model and the financial consumer protection model of equity crowdfunding (We Finance) from the structural advantages of the DAO, so as to increase the total social welfare. The Coken theory provides an original Chinese plan for the sharing and protection of the core elements of data, aiming at stronger, better, and bigger digital economy. At the same time, the application of the PDA analysis paradigm to the restructuring of the Metaverse market entities is conducive to advocating the unification of the responsibilities, rights, benefits, and economic efficiency of the organization, promoting the interconnection between platforms, boosting the wealth of data, and ensuring that the basic rights of the people in cyberspace are not infringed. 

Key words: Metaverse, digital economy, DAO, Coken, blockchain