🌍 This Week in Web3forGood
A weekly roundup of the ways web3 could make the world a better place
Welcome to Week 14,
Today, we will start with a tweet from Kevin Owocki, the founder of Gitcoin about ImpactDAOs - ImpactDAOs are web3 projects that are using crypto to create positive externalities in the world and will be the focus of our deep dive this week.
Coming from an international development background, we realize that there are many issues with how nonprofits are currently run - they are often termed as moving slow, not being efficient etc., but they do fulfill a need - they exist due to market failure and play an essential role. While we do believe ImpactDAOs by their nature are meant to be more innovative and dynamic - the goal is not to pit the two against each other but rather to help bridge the gap.
The NGO space comes with a lot of learnings, measurement of social impact, and community building; ImpactDAOs may be the future, but the learnings from the years and the market failure that nonprofits address shouldn’t be ignored. ImpactDAOs can prove to be a defining feature of the Web3forGood space that we care deeply about.
As Kevin Owocki points out, crypto needs to prove itself as a force of humanitarian good to the world:
Can crypto fix societal problems that today’s political and market institutions cannot? Can it create credible solutions?
What positive impact does it create for the average person?
Can it create outcomes beyond financial wealth for the already-rich?
This week, we will dive deeper into projects leading to regenerate the world: ImpactDAOs - for more details, I would recommend reading the ImpactDAO poster book and their mapping of the ecosystem. But until then - here’s a deep dive into what ImpactDAOs are all about - and why they matter.
If you are involve with an ImpactDAO, let us know. We would love to hear from you, understand why you took the Web3 route, and how you are moving towards regenerative finance.
WAGMI!
Xx Abeera (& Sam, who is traveling this week. If you are in Amman, and free to connect, send her a DM)
What’s Inside
🌊 Deep Dive: Intro to ImpactDAOs and Why They Are Exciting
🕊 Tweet of the Week
📣 Latest News
📚 What We’re Thinking About
🚀 Opportunities
📡 On Our Radar
🌊 An intro to ImpactDAOs and why they excite us.
For a quick deep dive, watch Ale Borda on the “Greenpilled podcast”.
We believe that Web3 has the potential to have a positive impact on society - it allows for greater ownership, collective leadership, new forms of funding (read up on quadratic funding for those interested) and moves towards a shared purpose. We have already built on how DAOs and social impact came together before, now we dive deeper into this space with ImpactDAOs.
Impact DAOs are internet native nonprofits and social enterprises built from birth to be transparent and decentralized with the mission to bring positive externalities in the world. They amplify their impact by stacking on each other and derive compounding effects from the mutual collaboration to build a regenerative economy. They push for regenerative cryptoeconomics - systems that satisfy human needs, are net positive, and improve the balance between needs and investment - which includes redefining what we value and how we share that value.
For those of us working in international development, many of us are used to bureaucracy, red tape, lack of transparency, accountability, and top down decision making. ImpactDAOs serve social causes better since community members have the opportunity to drive decision making and drive where efforts and funds are channelled.
The ImpactDAO project started from Kevin Owocki's call for ImpactDAO Cartographers, and what stemmed from it is a mapping of the deeper ecosystem.
Building from the book, here are some characteristics of the ImpactDAO ecosystem:
Continue Reading on Medium.
🕊 Tweet of the Week
📣 Latest News
United Way and DoinGud band together to help communities around the world
Masa Finance Partners with African Fintech Pngme to Provide DeFi Services to Emerging Markets
📚 What We’re Thinking About
What Is Web3? (Harvard Business Review)
A collaboration between the Institute of Oncology in Gliwice, Ogilvy, the Alivia Cancer Foundation and Polish artist Paweł Swanski, ‘Buy My Cancer’ is being touted not only as “the first NFT series designed to save lives,” but an entirely new type of medical funding model.(The Drum)
The Responsible Financial Innovation Act, proposed by the New York Democrat Kirsten Gillibrand and the Wyoming Republican Cynthia Lummis, aims to “take a light regulatory touch.” Most experts believe that the bill’s chances of passage before the midterm elections are extremely slim. Here are some of its main elements. (TIME)
10 DeSci projects disrupting research, development, and knowledge sharing. (Crypto Altruism)
The true potential for Web3 may lie less in consumer applications and more in solving the systemic challenges in global trade. (Forbes)
Scott Onder from Mercy Corps Venture shares why crypto and blockchain can be tailored to meet the specific needs of the world’s underbanked and enable an inclusive and equitable global financial system. (Thomsons Reuters Foundation)
🚀 Opportunities
Attend: Crypto Philanthropy in Australia, hosted by The Giving Block and happening Monday June 13 (The Life You Can Save will be there).
Attend: DeSci Boston Hackathon - it’s not until September, but never too early to add to your calendar.
Apply: Check out the RefiDAO job board for positions in Refi, and create your profile to be a part of their talent drop.
Apply: Interested in a Web3 job? Add your resume to We3’s job seeker database.
Apply: BFF is hiring a Social Media Manager and a Project Manager (remote).
Engage: as a grantee, funder, or matching partner with Gitcoin Grants Round 14, and check out this thread for the various ways to engage!
📡 On Our Radar
MOVE is an experimental platform to promote social, public good and environmental change.
Big Baddies NFT is a collection of 5000 Baddie NFTs and is the first female and LGBTQ+ project on Solana. Their mission is to empower female, queer, and diverse artists around the world, support charities close to the community, and create new experiences while increasing value for holders.
Nothing contained in this newsletter should be construed as financial or investment advice. This newsletter is for informational educational purposes only.