A brand new initiative, Teddy DAO, seeks to leverage NFTs for charitable causes. Developed by Web3 software program firm Fortunate Friday, Teddy DAO goals to make the most of cryptocurrency as a funding mechanism to advertise social influence worldwide. Partnering with international fundraising group JustGiving, Teddy DAO is ready to make a major distinction within the lives of these in want.
Daily Auctions for Charity
Starting on June 23, Teddy DAO will launch each day auctions for its distinctive teddy bear NFTs. These lovely digital collectibles, created by famend artist Yumi, shall be minted on the cross-chain good contract platform Moonbeam. The public sale winners could have the chance to donate the proceeds from their NFT buy to one of many 400 charities supported by JustGiving.
Teddy DAO’s collaboration with JustGiving permits it to faucet into an unlimited community of 450,000 charities worldwide. By the sale of the teddy bear NFTs, Teddy DAO goals to assist numerous causes, starting from schooling and healthcare to environmental conservation and catastrophe reduction. The donated cryptocurrency is transformed into fiat forex and channelled on to the chosen charity by means of the JustGiving platform.
Constructing a Group for Social Change
The brainchild of David Chapman, Teddy DAO was impressed by a earlier NFT sale that raised $15,000 for UNICEF. Drawing from that have, Chapman acknowledged the immense potential of using NFTs for social good. With Teddy DAO, he goals to construct a community-driven group that collectively contributes to significant causes.
As a decentralized autonomous group (DAO), Teddy DAO is registered as a 501(c)(3) nonprofit group. The imaginative and prescient for Teddy DAO goes past the preliminary NFT auctions. Chapman envisions a future the place donors choose Teddy DAO as their most popular charity, permitting the group to construct a treasury. The holders of the NFTs could have the facility to vote on which social initiatives the funds ought to be allotted to, thus empowering the neighborhood to drive optimistic change.
Conclusion
Teddy DAO’s revolutionary strategy to combining NFTs and charitable donations is ready to make a major influence on international social points. By each day NFT auctions and partnerships with JustGiving, Teddy DAO goals to leverage cryptocurrency for the higher good. By constructing a neighborhood of passionate people, Teddy DAO envisions a future the place its treasury turns into a robust pressure for optimistic change. With Teddy DAO, philanthropy meets the digital realm, paving the way in which for a brand new period of socially aware giving.
