6 months ago
Polkadot(DOT)-based foundation task Teddy DAO wants to pull much accepted donors to its origin by promoting Web3 education.
So far, the inaugural has garnered astir $14,000 successful contributions to supporting charitable causes, including those centered connected children’s welfare, anti-human trafficking efforts, crab research, and others.
Additionally, the task is acceptable to administer 190 carnal Teddy Bears to underprivileged children this twelvemonth successful alignment with its committedness to donate 1 Teddy DAO NFT for each minted.
Teddy DAO is simply a perpetual NFT postulation that donates its merchantability proceeds to charity. Donors to the task tin bask taxation benefits due to the fact that the Teddy DAO Foundation holds authoritative charitable presumption with the U.S. Internal Revenue Service (IRS).
Attracting accepted donors
Despite making aboriginal societal impacts, the task has yet to penetrate the accepted donor marketplace effectively. This whitethorn beryllium partially owed to the emergent quality of web3 technology, which is inactive not broadly understood by astir donors.
While astir 67% of U.S. homes give up to 3% of their income to a charity, a 2022 Harvard Business Review canvass showed that astir 70% of much than 50,000 claimed not to cognize what web3 is. This canvass shows that galore radical bash not cognize they tin usage the web3 abstraction to enactment humanitarian causes.
Teddy DAO looks to flooded this situation by facilitating a Web3 acquisition programme for this class, adding that its origin would beryllium greatly supported erstwhile JustGiving begins rolling retired the task to the implicit 450,000 charities wrong its network.
David Chapman, laminitis of Teddy DAO, told CryptoSlate that the task would motorboat an acquisition X Space bid tagged “Teddy Tuesdays” to amended accepted donors astir Web3 and the project.
“We person a main purpose to amended accepted foundation donors and fto Teddy DAO beryllium a gateway into the satellite of Web3,” Chapman added.
5% of NFT royalties to treasury
Teddy DAO disclosed that a 5% royalty operation volition beryllium implemented upon creating a secondary marketplace for its NFTs. The royalty would beryllium collected successful the project’s treasury, and members of its DAO could ballot quarterly connected however to administer funds to charities successful the foundation’s treasury.
Meanwhile, Teddy DAO reaffirmed its dedication to promoting vigor ratio wrong its charitable endeavors. The level emphasized its enactment of Polkadot owed to the blockchain’s acknowledged minimal c footprint.
The station Polkadot-based Teddy DAO seeks to onboard charitable donors done Web3 education appeared archetypal connected CryptoSlate.
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