ViciNFT Launches the Restaurant Relief DAO to Directly Support Local Restaurants

TIBURON, Calif., Sept. 20, 2022 /PRNewswire/ -- ViciNFT, a provider of turnkey NFT (non-fungible token) solutions for communities that are committed to the common good, today announced the launch of the Restaurant Relief DAO. The mission of the Restaurant Relief DAO is to directly support local restaurants and provide financial relief to those determined by the NFT holding community.

The restaurant industry is one of the most impacted by the coronavirus pandemic. One in ten COVID-19 battered restaurants permanently closed during the pandemic, according to estimates from food industry research firm Datassential. Even with restrictions being lifted, the industry now struggles with staffing shortages and other pandemic-related issues.

Prior to launching the Restaurant Relief DAO, ViciNFT worked with Marin County restaurant Sam's Anchor Cafe to create its first NFT collection. A waterfront landmark in the seaside town of Tiburon, California for over a century, Sam's successfully completed an initial drop of 244 NFTs for $300,000 on the ViciNFT platform (https://samscafe.store/). ViciNFT endeavors to bring similar NFT success to many other restaurants in the USA.

"Many restaurants are still struggling post-pandemic with spiking energy costs, staffing shortages and compounding debt," said Jon B. Fisher, ViciNFT's co-founder and CEO. "We created the Restaurant Relief DAO to provide support for these small businesses through a community-powered effort."

A DAO (decentralized autonomous organization) is a community-led entity with no central authority. It is fully autonomous and transparent. Blockchain-enabled smart contracts lay the foundational rules and execute the agreed-upon decisions. DAO proposals, voting, and even the very code itself can be publicly audited at any point in time.

Any restaurant struggling due to the coronavirus pandemic, labor shortages, natural disasters, or other circumstances beyond its control can be nominated for assistance through the Restaurant Relief DAO. 80% of net proceeds go into a Restaurant Relief Fund (RRF) controlled by the DAO.  When the RRF reaches $500,000, the DAO will vote on which two restaurants will each receive $250,000. Restaurants will also receive $5,000 out of the fund for every 100 nominations.

Members of the Restaurant Relief DAO will be able to nominate their favorite US restaurant using their DAO NFT. Members will receive a Restaurant Relief NFT that will regularly update to display the total funds raised, as well as the contributions set aside for the restaurant nominated. Anyone interested in supporting and joining the Restaurant Relief DAO may visit: https://restaurantrelief.io/
https://opensea.io/collection/restaurantrelief

Incorporated in May 2021, ViciNFT provides turnkey NFT solutions for enterprises, creators, and communities that are committed to the common good. From almost every NFT sold by ViciNFT, approximately 10% of net proceeds go to charity. ViciNFT works with clients to support the charities of their choice and promote positive changes within their community. Another key mission of ViciNFT is that one tree is planted for every NFT sold, bringing a unique combination of technology and charities working together for the common good.

For more information about ViciNFT, please visit: https://www.vicinft.com/

Due to recent events, such as the COVID-19 pandemic, many restaurants are still struggling to make ends meet. Whether the problem is a staffing issue, increased energy costs, or natural disaster, the Restaurant Relief DAO was created to help restaurants in need.

The mission of the Restaurant Relief DAO (decentralized autonomous organization) is to directly support local restaurants and provide financial relief to those most in need. Charitable proceeds go directly to the Restaurant Relief Fund, which is controlled by the DAO to determine which restaurants receive assistance.

For more information about the Restaurant Relief DAO, please visit: https://restaurantrelief.io/

CONTACTS:
ViciNFT
Jon Fisher, CEO
[email protected]

SOURCE ViciNFT