Polkadot (DOT)-based charity undertaking Teddy DAO needs to draw extra conventional donors to its trigger by selling Web3 schooling.
To this point, the initiative has garnered about $14,000 in contributions to supporting charitable causes, together with these centered on kids’s welfare, anti-human trafficking efforts, most cancers analysis, and others.
Moreover, the undertaking is ready to distribute 190 bodily Teddy Bears to underprivileged kids this yr in alignment with its dedication to donate one Teddy DAO NFT for every minted.
Teddy DAO is a perpetual NFT assortment that donates its sale proceeds to charity. Donors to the undertaking can get pleasure from tax advantages as a result of the Teddy DAO Basis holds official charitable standing with the U.S. Inner Income Service (IRS).
Attracting conventional donors
Regardless of making early social impacts, the undertaking has but to penetrate the standard donor market successfully. This can be partly because of the emergent nature of web3 know-how, which continues to be not broadly understood by most donors.
Whereas round 67% of U.S. houses give as much as 3% of their revenue to a charity, a 2022 Harvard Enterprise Evaluation ballot confirmed that just about 70% of greater than 50,000 claimed to not know what web3 is. This ballot exhibits that many individuals have no idea they will use the web3 house to help humanitarian causes.
Teddy DAO seems to beat this problem by facilitating a Web3 schooling program for this class, including that its trigger can be vastly supported when JustGiving begins rolling out the undertaking to the over 450,000 charities inside its community.
David Chapman, founding father of Teddy DAO, informed Crypto that the undertaking would launch an academic X House sequence tagged “Teddy Tuesdays” to teach conventional donors about Web3 and the undertaking.
“We’ve a chief purpose to teach conventional charity donors and let Teddy DAO be a gateway into the world of Web3,” Chapman added.
5% of NFT royalties to treasury
Teddy DAO disclosed {that a} 5% royalty construction will probably be carried out upon making a secondary marketplace for its NFTs. The royalty can be collected within the undertaking’s treasury, and members of its DAO might vote quarterly on the way to distribute funds to charities within the basis’s treasury.
In the meantime, Teddy DAO reaffirmed its dedication to selling vitality effectivity inside its charitable endeavors. The platform emphasised its choice of Polkadot because of the blockchain’s acknowledged minimal carbon footprint.