Kimbal Musk has announced the launch of "Giving DAO", describing it as an experiment in decentralized philanthropy.
Kimbal is the CEO of The Kitchen Restaurant, sits on the board of Telsa and has founded a nonprofit called Big Green. Blockchain and philanthropy are still an untapped segment, but it's not the first time we have seen something like this.
Doctors Without Borders received a donation of $3.5 million worth of ETH from an NFT sale which was used to improve medical health worldwide. Surprisingly a group of hackers from a ransomware group called Darkside has donated Bitcoin to a crypto charity service, "The Giving Block."
A rising tide raises all DAOs: 2022 seems to be the year for DAOs as 2021 was for NFTs. We have already seen interesting DAO's for specific causes this year. A DAO is planning to buy an NBA team, another one is forming to protect music artist rights, and this one can be called the DAO of the year, which raised $47 Million to buy the US constitution. The concept of DAO's is ever-evolving, and I am sure we will see many DAOs created for interesting use cases.