Apart from going green and being sustainable, projects are making a conscious and active effort to use NFTs to raise funds for Charity Donations. This segment is progressing well because NFTs actually gamify the process. Gone are the days of just collecting money, pooling it together and then turning it over to the beneficiary. Now, NFT Charity Donations translates to doing an exciting NFT Drop with proceeds going to worthy causes.
In this article, we’ll talk about the leading projects championing charity-focused NFTs.
NFTs are proving to be an effective medium in raising funds for charity. Credit: HuffPost
NFT Charity Donations on Steroids: Care Package and Listen
The standout project in this category is Jack Butcher’s “Care Package.” The founder of Visualize value started this charity campaign to raise funds for Afghan families in need using the Ethereum (ETH)-based blogging platform Mirror. The country is in dire need of help because of hunger and collapsing health services following the Taliban takeover on August 15, 2021. According to Red Cross, 18 million citizens need humanitarian aid.
Basically, the campaign offers a single “CARE Package for Afghanistan” NFT edition for 0.03 ETH or $112 and 10 for 0.28 ETH or $1,045. The single edition package, which contained a total of 1,000 NFTs, has already sold out while there are still plenty of 10x care packages. Basically, each edition of the NFT covers one Afghan family’s emergency needs for a month.
CARE Package focuses on providing the basic needs of displaced Afghan families. Credit: Care Package
The NFT community heeded Butcher’s call for donations. As of press time, the project raised ETH 59.54 or roughly $225,000. Using smart contracts, all proceeds are directly routed to Care.org, an international humanitarian organization.
Another project leading the charge is entrepreneur Tony Hollingsworth’s Listen. The campaign has an ambitious goal of raising $100 Millon using NFTs to help one billion impoverished children from around the globe. To turn this vision into reality, Hollingsworth is enlisting the help of an army of 200 artists from the film and music industries. Those who will donate will receive digital art from prominent artists in return for their donations.
Why NFTs and Charitable Efforts Clicks
A report by the World Bank claims that people are more likely to donate when they are incentivized. For example, they receive something in return even if the value is not equivalent to their donations.
Butcher backed this up. He said, “NFTs push the relationship between art and philanthropy into an entirely new paradigm. Digital art can create and sustain movements in ways that physical art cannot. Internet-native communities can organize quickly to direct large amounts of capital instantly, from anywhere, to anyone.”
Alex Wilson, Co-Founder of The Giving Block, a platform that facilitates raising funds via NFTs, echoed the sentiments of Butcher. He said, “NFTs have made it easier than ever for creators to support their favorite causes using their artistic creativity and the NFT community has come out in full force to support amazing causes like CARE. We’re excited by the growth of crypto philanthropy this year and know this is only the beginning.”
Another development worth noting is how NFT Projects are including raising money for charity in their roadmaps. For example, Sad Girls Bar donated ETH to support “Women Side by Side.” Meanwhile, proceeds from the Bacardi and Cam Kirk Drop will go directly to the “Backing the BAR” initiative. This campaign supports Black-owned establishments in their pursuit of liquor licenses.
