Teddy DAO, a new initiative developed by the Web3 software company Lucky Friday, is harnessing the power of NFTs for philanthropic endeavors. In collaboration with the global fundraising organization JustGiving, Teddy DAO is set to make a substantial impact in the lives of those in need through cryptocurrency-based funding.

Starting June 23, Teddy DAO will initiate daily auctions of its unique teddy bear NFTs, designed by the acclaimed artist Yumi and minted on the Moonbeam cross-chain smart contract platform. The auction winners will have the chance to donate the proceeds from their NFT purchase to one of the 400 charities supported by JustGiving.

Through its partnership with JustGiving, Teddy DAO can access a vast network of 450,000 charities globally. The sale of the teddy bear NFTs will support a variety of causes, from education and healthcare to environmental conservation and disaster relief. The donated cryptocurrency is converted into fiat currency and directly sent to the selected charity via the JustGiving platform.

David Chapman, the founder of Teddy DAO, was inspired by a previous NFT sale that raised $15,000 for UNICEF. With Teddy DAO, he aims to establish a community-driven organization that collectively contributes to significant causes. As a decentralized autonomous organization (DAO), Teddy DAO is registered as a 501(c)(3) nonprofit organization. Chapman's vision for Teddy DAO extends beyond the initial NFT auctions. He foresees a future where donors choose Teddy DAO as their preferred charity, enabling the organization to build a treasury. NFT holders will have the power to vote on which social initiatives the funds should be directed to, thereby empowering the community to drive positive change.

Teddy DAO's innovative blend of NFTs and charitable donations is poised to make a significant impact on global social issues. Through daily NFT auctions and partnerships with JustGiving, Teddy DAO aims to leverage cryptocurrency for the greater good. By building a community of passionate individuals, Teddy DAO envisions a future where its treasury becomes a potent force for positive change. Teddy DAO represents the intersection of philanthropy and the digital world, heralding a new era of socially conscious giving.