Charity DAOs on NEAR: What The Sputnik Vietnam Fund Demonstrates

4NTS Guild
Jul 22 · 2 min read

Vietnam has recently been heavily hit with the latest Delta variant of the novel Coronavirus. With limited supplies, hospital space, and medical support the country has had difficulty getting certain preventative materials and medicines to support ill patients, doctors and nurses alike. Within the NEAR Ecosystem, the NEAR Vietnam Community remains one of the most active and engaged communities to date!

Charity DAOs on NEAR

In light of these trends, the NEAR community has organized a charity DAO on NEARs very own Sputnik DAO Infrastructure. To date, this DAO has successfully raised over 19,000 NEAR in the past week alone — with 15,000 $NEAR already paid out to Riley Tran, head of NEAR Vietnam. What his fantastic initiative has been able to show, is not only the power of community, but also the power of distributed fundraising for crisis events.

While the current Charity DAO was supported by direct donations to the Sputnik Fund, the future of fundraising can be even more innovative: Using NEAR’s very own Mintbase NFT Factory, a user could Mint and NFT and add the Sputnik DAO address into the Royalty field when minting. The NFT can simply be sold and resold among different donors, so that the donations end up going directly to the fund with each ‘purchase’. This would allow other charities to also be included in the royalties in the future if they wished to be added as a ‘Royalty’ Recipient.

The NEAR Covid Relief DAO is Still Open!

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4NTS Guild

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NEAR Protocol

NEAR Protocol is a high-performance blockchain platform for developing Open Web applications. Easy to build on and easy to use, NEAR will bridge the users of today’s internet to the blockchain-based web of the future.