NFT philanthropy demonstrates new ways of giving back
Organizations and artists are using NFTs to give back to children in need, demonstrating new potential for nonfungible tokens. NFTs, or nonfungible tokens, have created a wealth of opportunities over the last year. Data from market tracker DappRadar found that NFT sales reached $25 billion in 2021. Artwork NFTs in particular have seen impressive growth. Financial services firm FinancePR recently determined that 257 artists generated at least $1 million in the past 30 days from selling NFT artwork. It’s also notable that NFT transactions have continued to increase, despite recent slumps in....
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Charitable crypto campaigns aim to give back this holiday season, demonstrating how effective cryptocurrency and NFT donations can be for donations. The holidays are the perfect time of the year for giving back, and the rise of cryptocurrencies has created even more opportunities for charitable initiatives. This was highlighted during Giving Tuesday 2021, the Tuesday after Thanksgiving which saw over $2.4 million raised in cryptocurrency from the nonprofit fundraising platform The Giving Block.As crypto philanthropy becomes a new subsector of the cryptocurrency economy, some in the....
Giving Tuesday marked the start of the season for crypto giving and The Giving Block is leading the crypto fundraising campaign. After Thanksgiving Thursday, Black Friday and Cyber Monday comes Giving Tuesday, a day that encourages contributing to charity. The year saw a rise in crypto-philanthropy, thanks to The Giving Block’s initiative of Crypto Giving Tuesday, which initially began in 2019. The organization that equips nonprofits to accept cryptocurrency donations raised $2.4 million dollars in crypto this year, a 583% increase from Crypto Giving Tuesday 2020. From charities,....
Established in 2013 by Connie Gallippi, the recognized 501c3 nonprofit BitGive is known for its work with projects such as Save the Children, The Water Project, and Medic Mobile. The group is also in building a Donation Transparency Platform for nonprofits as a “Charity 2.0” project that aims to revolutionize philanthropy. Gallippi chatted with....
The benefits of blockchain technology are creating new operating models for many types of organizations. Charities, which manage large amounts of money, require complex accounting and conduct a lot of research, have much to gain from blockchain technology as digital transactions and smart technology increase. The Charities Aid Foundation (CAF), based in London, U. K., recently released a 20-page report, "Giving Unchained - Philanthropy and the Blockchain," which examines how blockchain technology will affect the way charities raise money and operate. The report presents an example of how....