HoW and our mission to support innovation for the future

The House of WisDAO (HoW) is a collective with total discretion, democratically, that has identified a shortcoming in the Blockchain and DeFi segments of the crypto ecosystem, specifically regarding funding of Muslim Blockchain Innovation globally.

HoW is an entity that will facilitate the alleviation of the shortfall in funding by unifying the muslim Community (Ummah), in a trustless manner, by raising finance through the issuing of Shariah compliant, themed Non-fungible Tokens (NFTs). Holders of these NFTs will have the opportunity to introduce potential funded projects to the HoW platform as well as vote on which projects should be funded.

The grand objective of our movement includes the need to contribute to re-establishing prominent muslim input into the trajectory of human progress, placing muslim innovation and education at the forefront of DeFi.

Endowments

At its essence, Endowments are funds constituted from money donated by a community to a cause that will improve humanity.

The value of the endowment perpetually increases through investing of funds and additional donations. Generally only the profit generated by the endowment is used to finance its activities.

The Concept of Crowdfunding (Co-op funding)

Crowdfunding is a way of raising money to finance projects and businesses. It enables fundraisers to collect money from a large number of people via online platforms. An example of a globally popular crowdfunding platform is Patreon, used by many content creators on various digital platforms eg. YouTube.

Financial Co-operative (co-op) is a type of financial institution that is owned and operated by its members. The goal of a financial cooperative is to act on behalf of a unified group to offer traditional banking and financial services. An example of this are Credit Unions funded, run and owned by its participants.

HoW will be using a hybrid of the 2 concepts above and structuring ownership of the entire Endowment Fund process into a Decentralized Autonomous Organisation (DAO) which is a blockchain based entity that is owned by its users, trustless, transparent, immutable, democratic and agile. The instrument that will be powering this ecosystem will be the NFT (Non Fungible Token)