Deepak Chopra-Involved DAO Project Taps Coinshift for Treasury Management

The crowdfunding service aims to bring DAO tooling to non-crypto savvy agents of change.

AccessTimeIconAug 2, 2022 at 1:40 p.m. UTC
Updated May 11, 2023 at 5:34 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Decentralized autonomous organization (DAO) tooling startup Coinshift has partnered with EarthFund, a crypto crowdfunding company that creates decentralized, philanthropic communities, to manage its ecosystem of treasuries.

EarthFund describes itself as a “DAO-as-a-service” platform that helps social cause organizers crowdfund using cryptocurrency as well as launch their own tokens.

  • 'The Voice' Makes Its Way to the Metaverse
    12:43
    'The Voice' Makes Its Way to the Metaverse
  • Staking Has Been a Major Liquidity Sink for ETH: Coinbase Institutional
    00:53
    Staking Has Been a Major Liquidity Sink for ETH: Coinbase Institutional
  • Fantom Token Jumps; Dolce & Gabbana Sued for NFT Deliveries
    01:52
    Fantom Token Jumps; Dolce & Gabbana Sued for NFT Deliveries
  • What's the Key to Winning a Hackathon?
    00:32
    What's the Key to Winning a Hackathon?
  • As part of the tie-up, Coinshift will “secure and help manage the treasuries for all projects in the EarthFund ecosystem,” according to a press release.

    EarthFund currently has two initiatives listed on its site, the most notable being “Mental Health and Wellbeing,” a project started by famed naturopath Deepak Chopra dedicated to funding mental health projects.

    “We became interested in cryptocurrency and Web3 a few years ago as a platform for philanthropy and doing good,” Chopra told CoinDesk in a statement. “Our partnership with EarthFund allowed us to easily set up our own decentralized community with its own governance token.”

    Mental Health and Wellbeing has so far built a treasury of $2 million between donations and the value of the “NeverAlone” token, according to a release.

    Earthfund says it has over 235 projects waiting to be approved to join its ecosystem. The organization’s current focus is on its back end and accessibility, with partnerships like this one with Coinshift being targeted at its non-crypto-savvy users.

    “As well as creating a platform that helps people make the world a better place, one of EarthFund’s core missions is to make crypto accessible and simple by placing a premium on user experience and usability,” Adam Boalt, co-founder of EarthFund, said in a statement.

    The idea of using DAOs as a means of crowdfunding is far from novel, though the infrastructure around the concept remains early stage. The first major grassroots DAO funding effort came in November when a group of crypto enthusiasts pooled their money to try to buy one of the original copies of the U.S. Constitution. In February, UkraineDAO, a DAO started by the Russian art collective Pussy Riot, raised $3 million to donate to the Ukrainian military in its war against Russia.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Eli Tan

    Eli was a news reporter for CoinDesk. He holds ETH, SOL and AVAX.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



    Read more about