COVID-19 has spurred more nonprofit organizations to accept crypto
Nonprofit entities could be harnessing an untapped market of supporters simply by allowing crypto donations. Over the past three years, an increasing number of nonprofit organizations have begun to accept crypto-based donations. According to Alex Wilson, co-founder of crypto donation gateway The Giving Block, the COVID-19 pandemic has pushed this trend further than ever before.Pandemic prevention measures began to accelerate in March 2020, resulting in business closures and economic turmoil for many. Businesses and nonprofits alike faced notable losses in revenue once the virus took....
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Bitcoin is gradually gaining acceptance across the world as a digital currency. A lot of businesses across various sectors have started including bitcoin as one of the modes of transaction alongside fiat currency. Most businesses, except for those in the non-profit sector can easily setup a bitcoin based payment service and start using it in no time, without any hassle in terms of regulations and other legal implications. Why are nonprofit organizations singled out? When someone says nonprofit organization, we visualize social good. We think about the humanitarian causes supported by these....
Proceeds will go towards Sostento, a nonprofit that supports frontline public health workers. Sotheby’s, the world’s oldest art and luxury auction house, announced its collaboration with the public health care advocate and nonprofit organization Sostento to auction off its latest NFT collection via the Sotheby’s Metaverse. The auction titled Gifted: The 140 Collection is considered to be Sotheby’s “biggest NFT charity auction ever,” with all of its proceeds going towards Sostento. The NFTs were originally gifted by Twitter as part of a giveaway of 140 NFTs to 140 random followers in June....
Shift4 has more than 425 software integrations and over 200,000 merchant customers According to an investor presentation published Tuesday, U.S.-based payment solutions provider Shift4 announced its acquisition of The Giving Block in cash and stock for $54 million, plus a potential earnout of up to $246 million. The Giving Block is an online platform that allows over 1,300 nonprofit organizations and charities to accept crypto donations. As told by its annual report, the organization processed $69.64 million in crypto donations, an increase of 1,558% from 2020. Out of this amount,....
The global nonprofit Operation Smile has announced the organization is now accepting crypto assets like bitcoin and dogecoin. The nonprofit is a surgical volunteer-based outfit that helps people with cleft conditions improve their lifestyles. Surgical Volunteer-Based Nonprofit Operation Smile Accepts Crypto Donations On July 18, one of the largest surgical volunteer-based nonprofit in the world, Operation Smile revealed the group is now accepting digital asset donations. The charitable organization invoked in 1982 leverages donations, volunteers, and public and private partnerships to....
A philanthropic DAO would transform fundraising, grant distribution and nonprofit management into a truly transparent and democratic process. A merge between crypto and philanthropy is already underway as decentralized autonomous organizations (DAO) and nonfungible token artists alike fundraise and donate crypto to nonprofits. But what does the age-old institution of philanthropy have to learn from emerging technologies in the crypto space? Additionally, what does crypto have to offer philanthropy that could improve the sector generally?Crypto offers the potential for nonprofits to be....