# House of WisDAO - Muslim Innovation ## بسم الله الرحمن الرحيم ## Preamble ### Mission: House of Wisdao would leverage Web3 technology to work on advancing innovation in the modern age - in ways that align with Muslim values. The mission is to serve the community and have a widespread social impact. ### Vision: The House of Wisdao aims to become a central hub that fosters innovation and community among Muslims from all over the world. It's a place for them to unite and work to help meaningful causes, and make the Web3 Ecosystem a welcome place for all! ### What is a DAO A decentralized autonomous organization (DAO) is an emerging form of legal structure that has no central governing body and whose members share a common goal to act in the best interest of the entity. Popularized through cryptocurrency enthusiasts and blockchain technology, DAOs are used to make decisions in a bottom-up management approach. An good example of a grant/funding DAO would be the [GitCoin DAO](https://www.gitcoin.co/) ### NFTs and their use cases A Non fungible token (NFT) is a blockchain instrument that represents unique ownership of digital assets and these assets are best portrayed as being generated through popular metaverse gaming platforms and assets in games like [Axie Infinity](https://axieinfinity.com/). The use cases of NFTs are being applied in the real world in markets like Real Estate ([tokenized real world assets RWA](https://www.linkedin.com/pulse/tokenization-real-world-assets-impact-blockchain-ian-horne/)) NFTs can be bought and sold in the same way real world assets are bought, owned and sold. [Nouns DAO](https://nouns.wtf/) is a good example of a DAO using NFTs for capital accumulation and governance \