Moonbeam's Eco-Friendly Proof of Stake Foundation Elevates the Network as a Top Destination for Charitable Organizations to Mint NFTs with a Lower Carbon Footprint
REDDING, Conn., June 20, 2023 /PRNewswire-PRWeb/ -- Lucky Friday Labs announced today the launch of Teddy DAO, a perpetual, on-chain charity NFT collection minted on Moonbeam that aims to revolutionize how non-profit organizations raise funds.
In collaboration with JustGiving, a globally recognized online fundraising platform, Teddy DAO represents a significant step forward in utilizing the potential of crypto for significant social impact.
The Teddy DAO Foundation is a 501(c)(3) charitable organization recognized by the Internal Revenue Service (IRS) and sets a new benchmark in charitable giving by hosting one of the first charity auction platforms on the Polkadot network, focusing solely on creating a positive impact on society.
Teddy DAO brings an exciting approach to charitable giving with a daily auction of limited-edition teddy bears designed by renowned designer and pixel artist Yumi. With a new and exclusive bear added to the collection every day, collectors and philanthropists alike have the chance to make a meaningful impact through their bids.
The winning bidder of each daily auction has the opportunity to initially choose from 400 charities to receive the proceeds from their winning bid, with a plan to expand the universe of covered charities to over 450,000 after the initial launch phase. The funds collected from the auction will off-ramp from crypto to fiat and then be delivered directly to the chosen charity through JustGiving, the world's leading and most trusted platform for online giving.
Over 450,000 charities are connected with JustGiving and, to date, the platform has facilitated over £6 billion for good causes in almost every single country in the world.
This ground-breaking approach to charitable fundraising, which combines blockchain technology and NFTs, sets a new standard for social impact and highlights the potential of technology for social good.
Oliver Shaw- Latimer, Senior Director of Payments and Innovation at JustGiving said: "This is an exciting and revolutionary partnership for us. As digital currencies become more mainstream, we're pleased to be able to start to offer our charities the opportunity to benefit from donations originating from the blockchain. Starting on June 23rd, crypto donated during Teddy DAO's daily auctions will be converted into sterling and sent directly to JustGiving to distribute to the auction winner's chosen charity."
David Chapman, Founder of Teddy DAO, said: "We are thrilled to launch Teddy DAO and bring a truly remarkable project that prioritizes social good to the community. Teddy DAO offers more than just a collection of NFTs. It provides collectors with the chance to make a genuine difference in the world through their participation in the auctions. Our goal is to demonstrate that NFTs can be a powerful tool for decentralized projects seeking to drive real-world change and make a positive impact."
Moonbeam was selected as the deployment destination for the initiative because of its eco-friendly proof of stake foundation, making it a top choice to mint NFTs with a lower carbon footprint. Polkadot's shared security model provides Moonbeam with an efficient consensus mechanism, making it one of the most environmentally responsible EVM-based platforms for minting NFTs.
Katie Butler, Co-Founder of Distractive, a major marketing contributor to Moonbeam said, "Teddy DAO showcases the incredible potential of blockchain to drive community-led initiatives with a global impact. By choosing Polkadot and Moonbeam as their destination ecosystem, the project demonstrates not only a commitment to using cryptocurrency for social good but also prioritizes sustainability." She added, "This collaboration sets a high standard for NFT projects and underscores a commitment to positive change through responsible and sustainable blockchain technology."
Lucky Friday received a grant from the Moonbeam Foundation to advance its efforts in utilizing NFTs for social good. The grant supports the development of the project and brings a unique, impactful use case to the Moonbeam and Polkadot ecosystems.
Join the Teddy DAO first auction today and play your part in the advancement of using blockchain for social impact. Visit TeddyDAO.org to participate and discover more about the auction. By participating, you become a part of the growing effort to harness the potential of NFTs for the betterment of society.
For media inquiries, please contact Jonathan Duran at (310) 260-7901 or Jonathan(at)MelrosePR(dot)com.
About Lucky Friday Labs
Lucky Friday is a global Web3 software developer, infrastructure provider, and project creator at the forefront of interoperable blockchain technology. We help protocols, enterprise blockchain adopters, institutional crypto holders, and community initiatives ranging from NFTs to node infrastructure to decentralized finance. With decades of experience, our diverse team drives Web3 innovation by assisting enterprise adoption, building decentralized infrastructure, sponsoring initiatives for social good, and taking leadership roles to shape protocol development, project governance, and the decentralized economy.
About Moonbeam
Moonbeam is a smart contract platform for building cross-chain connected applications that can access users, assets, and services on any chain. By uniting functionality from Ethereum, Cosmos, Polkadot, and more into a single platform, Moonbeam solves today's fragmented user experience — unlocking true interoperability and paving the way for the next generation of applications. The Moonbeam platform uses integrated cross-chain messaging to allow developers to create smart contracts that access services across many remote blockchains. This approach, plus Moonbeam's developer-friendly EVM platform, vast tool support, and modern Substrate architecture, creates the ideal development environment for building connected applications.
About JustGiving
JustGiving is the world's most trusted platform for online giving. We help people raise money for the charities and people they care about the most. In 2000, JustGiving.com began with one simple goal – to enable charities to receive donations online from anywhere in the world. Fast forward 22 years and over £6 billion has been raised for good causes in almost every single country in the world. JustGiving became part of Blackbaud, the world's leading cloud software company powering social good in 2017.
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SOURCE Lucky Friday Labs
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