One of the latest new NFT projects, Next Earth, was created with a dual purpose in mind: To create the first blockchain-based replica of our planet, and to contribute to the environment in the process.
Next Earth is making strides on both ends, having sold over $1.3 million in the world’s first Initial Tile Offering, of which over $130,000 was donated to The Ocean Cleanup and Amazon Watch. In that initial donation, a simple Discord-based poll was used, in which community members voted on the allocation of proceeds to each charity.
Now, Next Earth has taken it up a notch with their charity DAO, or Decentralized Autonomous Organization.
What’s the Next Earth DAO?
The Next Earth DAO was recently used to determine the allocation of new funds across four charities: The Ocean Cleanup, SEE Turtles, Kiss the Ground, and Amazon Watch. In September, Next Earth sold around $640,260 worth of virtual real estate, 10% of which is pre-allocated for charitable contributions. With the Next Earth DAO, virtual landowners decided how that 10% would be split up.
These landowners decided that The Ocean Cleanup would receive the largest share of the proceeds, at 86 BNB, followed by SEE Turtles receiving 24.57 BNB, Amazon Watch receiving 18.25 BNB, and Kiss the Ground receiving the remaining 17.55 BNB.
This DAO-based mechanism allows Next Earth to redefine the concept of charity. This is a truly democratic process, where community members literally dictate how the project should allocate its funds. This is not a typical governance structure, where corporate entities like banks or big tech companies call the shots. This is an open community, with all of its members having equal voting power.
Why DAOs Are the Future of Charity
The Next Earth DAO is groundbreaking in its structure and use of blockchain technology. For one, it’s the first time any project has used a DAO to determine how to allocate funds raised from an ongoing metaverse tile offering. Further, it’s redefining the idea of a metaverse, as it recognizes that the physical world is inextricably intertwined with the digital, and we need to be stewards of the planet.
The use of DAOs to determine how to allocate funds is not just some academic exercise. It’s a practical application that has real-world consequences, affecting the health of our planet through charitable donations.
As blockchain grows in prominence and utility, it becomes increasingly clear that blockchains are not just about cryptocurrency—they can be used for much more than that. They are platforms designed for collaboration, development, governance, and transparency.
By using DAOs to determine how their virtual real estate funds should be managed, Next Earth is creating a model for other blockchain projects to follow when they launch their own token sales or fundraisings later this year and beyond.
How You Can Get Involved
The future of charitable giving is decentralized.
More and more people around the world are using decentralized applications, or dapps, to help them do everything from sending money to friends and family to buying airline tickets. The Next Earth DAO is a perfect example of how we can start making charitable giving as easy and accessible as taking part in a crypto project.
The more projects like Next Earth that adopt this model, the better it will be for those who need assistance from those in need—be it through financial support or simply spreading awareness about an important cause. And by doing so, they’ll help bring us one step closer to our vision of a truly global community.
Photo by Marcos Paulo Prado on Unsplash