As the world moves on, it is becoming increasingly important to preserve our past and history. Culturally sensitive sites are being lost to time. TemDAO is using the power of the public to protect heritage and locations by leveraging blockchain technology.
Raising Funds to Save Culture and History
While the concept of using blockchain and democratic power seems out of place when it comes to physically protecting heritage sites, TemDAO can do just that. This is done through leveraging the popularity of NFTs and partnering with local organizations that are on a mission to preserve buildings, monuments, locations, and much more.
TemDAO, as the name suggests, is a Decentralized Autonomous Organization. It allows its members who hold the platform’s $TEM tokens to have the right to propose and vote on sites they want TemDAO to protect. The proposal also includes the required funding needed, raised from the TemDAO treasury.
Once a heritage proposal is approved in a democratic manner, TemDAO partners with relevant organizations and will create intellectual property NFTS (IP-NFTs). These will be the official NFTs of the heritage, sold or auctioned off to raise funds. IP-NFT Holders can then either hold on to these for different associated utilities or generate profits by trading on TemDAO or secondary markets.
TemDAO First Project: Ninna-ji Temple
TemDAO has already started to roll out its innovative service by selecting the 9th-century Ninna-ji Temple in Japan.
A culturally significant temple in Japan’s history, Ninna-ji was built by Uda the 59th emperor of Japan in 888 AD. The temple is revered from not only a cultural point, but a religious one too. Serving as a priest is seen as a sign of immense respect. For generations to come, the Ninna-ji Temple was led by Emperor Uda’s sons and even grandsons as chief priests.
Through TemDAO, the Ninna-ji Temple authorities will not only raise funds for the continued protection and upkeep of the piece of history but also explore the potential of teaching the world about Buddhism and its place in Japan.
$TEM Moves Worlds
$TEM, the native token of TemDAO, is a crucial aspect of the whole ecosystem, having several functions on the platform.
Under its DAO, $TEM gives holders the power to make proposals regarding what sites and locations they want TemDAO to protect. Once a proposal makes it into the voting phase, other DAO members use their $TEM to have their say. If the majority approves, the heritage project funding is used accordingly.
Tying in with the IP-NFTS, all the intellectual property NFTs launched are available on the platform and can be bought with $TEM, thus the token also acts as a medium of exchange. With 14% of the total supply set aside for funds, $TEM will also be used responsibly as funds for all approved projects.
$TEM is also used to give authenticity and evaluation of any proposed projects. Project evaluators will need to stake their $TEM for a designated period. This step is done to ensure that only quality projects and qualified experts review the feasibility of the proposed projects. Of course, those who lock in their $TEM will also be rewarded with rewards for their efforts.
Introducing the power of people and bringing transparency to funds management, TemDAO is a platform that fundamentally changes how the world will be able to preserve heritage sites for generations to come.