Teddy DAO: How NFT Teddy Bears Contribute to Good Causes
The enticing lure of gamification and the thrill that follows has the potency to inject dynamism and appeal into almost any initiative. This fact was not lost on the founders of Teddy DAO – a community dedicated to a significant social cause.
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Teddy DAO is a non-profit NFT platform that introduces innovation to the traditional process of gathering donations for charities. It not only raises public awareness about projects in need of support but also enhances the engagement of a broader audience, serving as a bridge between charity and Web3.
Making a difference with digital teddy bears is a cinch Source: https://twitter.com/teddydaonft
The mission of Teddy DAO is a lofty one — they aim to become the most recognizable digital brand for charitable donations. But is it that simple to attain such a goal in a modern world where everyone primarily fends for themselves?
So, who's behind Teddy DAO?
A team of experts from various fields, including philanthropy, NFTs, Web3, entrepreneurship, and venture business, is working on the start-up. The merging of their professional skills sets Teddy DAO up for potentially becoming a sustainable project that brings about societal benefits.
At the helm of this digital initiative is David Chapman:
- Founder of the successful NFT project Kusama Kingdom within the Polkadot ecosystem;
- Director of the tech and cryptocurrency accelerator-incubator, Silvermine Capital;
- Principal of Lucky Friday, a global software development company for Web3.
Other members of the Teddy DAO team include:
- Joshua Waller, the principal developer and the head of PhalaNetwork, who also developed PhalaWorld. He found inspiration in the fundraising model of the global charity Make-A-Wish Foundation, which works to fulfill the dreams of terminally ill children;
- Kenji, a frontend developer;
- Yumi, an artist associated with OrdinalWitches, TToadsNFT, and Kitty Paradise;
- Ryan Haczynski, the “Head Teddy” and the Director of Communications and Public Relations at Lucky Friday;
- Richard Shorten, an advisor and co-founder of Silvermine Capital, who formerly served on the board of the charity Innovaire;
- Thomas Chaffee, a seasoned tech entrepreneur, and partner at Silvermine Capital.
Purchase a Teddy NFT, It's Beneficial
Teddy DAO: A Bridge Between Web3 and Philanthropy Source: https://twitter.com/teddydaonft
Teddy DAO, a platform built upon Moonbeam (a Polkadot parachain), has received a grant from the Moonbeam Foundation. The project presents itself as a secure gateway to the Web3 landscape, offering a dual benefit: entry into this exciting new space, and the ability to aid those in need.
We eliminate the “rug risk” of getting into NFTs by making the main utility the donation to charity. The purchased Teddy can open the door to many users who do not want to speculate but have a desire to enter and interact with the world of NFTs
the team explains in their project documentation
The team at Teddy DAO believes they have the power to shift public behavior. They hope to inspire not just their community but other digital projects to regularly contribute a portion of their profits to charitable causes, fostering a spirit of philanthropy within the community. To that end, they will mint and auction off a single Teddy NFT every day for the life of the platform.
Initially, Teddy DAO has teamed up with 400 charities featured on JustGiving, an online donation platform. Over the next year, the startup plans to increase the number of its partner organizations to 100,000.
Those wishing to purchase a Teddy NFT need only follow a few straightforward steps:
- Engage in the auction and place the highest bid in GLMR.
- Identify the charity to which you wish to donate and optionally provide your name/company.
- By doing so, you become a Teddy owner and a member of the Teddy DAO community, securing voting rights and access to exclusive channels on Discord.
Looking ahead, token holders will have the opportunity to sell their tokens on the secondary market (Moonbeans). Upon each sale, 5% of the proceeds will be redirected to the DAO for further distribution to charities.
The Future of the Project as a DAO
Teddy DAO's governance will transition through three phases Source: https://twitter.com/teddydaonft
The managerial structure of Teddy DAO's community is planned to evolve along with the project. Until there are 100 Teddy NFTs, there won't be any official governance. Subsequently, the DAO will advance to version 1.0, during which it will gather the desires and proposals of its community members.
In Teddy DAO 2.0, a framework similar to traditional decentralized communities will be established. This includes collective fundraising and decision-making regarding its distribution, potentially funding larger projects like school construction and other initiatives. Regarding DAO 3.0, its prospects are claimed to be “limitless.”
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