Virtual Landowners Donate With a Decentralized Charity

Next Earth, the NFT-based replica of Earth, announced that over $64,000 in proceeds from the sale of its virtual land will be donated to four environmental charities. The Ocean Cleanup, SEE Turtles, Kiss the Ground, and Amazon Watch will each receive funds allocated by a community-based vote. The allocation of funds across these four charities took place in a Decentralized Autonomous Organization (DAO), which enables Next Earth’s community to decide how to allocate funds raised from virtual real estate sales. DAOs are a new form of governance structure where token holders can vote for the allocation of resources via decentralized governance, rather than through traditional boardrooms. The virtual land funds were pre-allocated, with 10% of the total raised being allocated for charitable contributions. The Ocean Cleanup received the largest share of votes, and will get 86 BNB, while SEE Turtles will receive 24.57 BNB, and Kiss the Ground and Amazon Watch will each receive roughly half of the remaining 51 BNB. The four charities Next Earth’s decentralized charity initiative is allocating funds across four important environmental groups. Let’s look at each of these in brief. The Ocean Cleanup is an organization that intends to clean up the world’s oceans using a system that employs floating barriers, which will remove ocean plastic as it is collected, while also collecting plastic from river streams. Ocean plastic is an enormous e...