With the growing adoption of NFTs for ticketing, music NFTs, real estate, and charitable NFTs are also revolutionizing the sector in unprecedented ways. They offer an innovative way for collectors, artists, and charities to collaborate and fund causes that may have otherwise gone unnoticed. Using blockchain technology and digital art, supporters can easily donate funds or resources to any registered charity without incurring fees from third-party providers. In addition, NFTs enable charities to diversify their funding sources by encouraging donors who might not have been able to contribute directly before due to a lack of banking services in their region or other factors. This is leading to more efficient fundraising efforts that benefit everyone involved.
The use of charitable NFTs has seen an immense surge over the past few years. NFTs can be used to raise money for causes ranging from medical research, animal welfare, disaster relief, and education initiatives. Digital art is also being harnessed to create unique digital assets that are auctioned off with proceeds going toward various charities. Additionally, some artists have created NFTs specifically for charity auctions that benefit different organizations worldwide.
By leveraging blockchain technology and digital art, charities can easily track donations and provide transparency in a way never before possible. This helps ensure that funds are allocated correctly and reach those who most need them. Moreover, donors can rest assured knowing exactly where their donations are going and what kind of impact they’re making on the charity sector.
Considering all this, we have compiled a short list of some of the most notable NFT-driven fundraising efforts that we have seen in this space so far.
NFTs for charity: Animals
In April of 2022, the World Wildlife Fund quickly discontinued their Non-Fungible Animals project amidst backlash from its community. Despite this action, they were still able to raise an impressive sum — almost $300,000 in only a matter of time. This led other wildlife conservation groups to seek out learning opportunities from the WWF’s misstep and use certified environmentally-friendly blockchains for fundraising efforts. Australia Zoo was one group that decided to take advantage of such technology and hosted an NFT fundraiser on Algorand’s carbon-negative blockchain in June 2022.
To further their mission to protect wildlife, Project Unextinct leveraged the power of NFTs. This initiative was instigated to celebrate and reward supporters for the successful conservation efforts that led to the Spix’s Macaw being revived from extinction in its natural habitat. By donating, donors received exclusive insights into how these birds were adapting back into wildlife after release. On June 11, 2022, Spix’s Macaw achieved a momentous feat – being the first species to become “unextinct” when a group of birds was released in Bahia state Brazil. To commemorate such an incredible wildlife conservation milestone, photographer Tim Flach teamed up with Atlas Labs and the Association for the Conservation of Threatened Parrots (ACTP) to produce Project Unextinct – an extraordinary compilation of photographs highlighting this beautiful bird.
The project is determined to be environmentally conscious and plans on making each sale of a Project Unextinct NFT a carbon-negative transaction.
Another example of NFTs for charity is Coorest, a Netherlands-based decentralized carbon credit exchange, and PLCnetwork, a conservation consulting firm from the Southern Hemisphere. They joined forces to tokenize endangered animals at game reserves and privately owned wildlife areas in Africa. By owning one of these special Wildlife NFTs, you can sponsor a beloved elephant, lion, cheetah, or rhino – with all profits going toward feeding them, providing shelter, and ensuring their safety.
Owning an “elephant NFT” or a “lion NFT” is not the same as owning one of these animals – instead, it’s like having a virtual assurance that your beloved wildlife creature still exists out in nature. Each NFT contains metadata regarding species, age, and gender. Plus, holders will be invited to visit their special animal at the reserve.
NFTs for charity: Ukraine
The Russia-Ukraine conflict continues to be one of the worst humanitarian crises in our recent history. Understandably, Ukraine’s citizens and even its government have resorted to NFTs as a means for quickly raising necessary funds. To further assist Ukrainian people during this difficult period, many communities worldwide have shown their solidarity; namely with UkraineDAO being created for just that purpose! As a show of defiance to Russian aggression, some talented Russian artists have come together to raise hundreds of thousands of dollars through their philanthropic fundraising initiatives since the beginning of hostilities between Russia and Ukraine in late February 2022.
All of these projects have something in common: they paint an accurate representation of the damage done by conflict on a personal level. An excellent illustration is THEIR FUTURES, which gives supporters the chance to purchase artwork crafted by young Ukrainian refugees dislocated due to war. Through these pieces, we can recognize how this ongoing struggle affects children from their point-of-view; Bonnie Ponashenko declared that “war knocks on their doors, all they know is fear. […] A fear that could stay with them forever… unless collectively, we do something about it.”
Fragmint is a Web3 platform and as such our team believes in decentralization and freedom. These principles made us use Web3 tools and build a platform where artists can create modular art with unlimited creativity.
NFTs for charity: Healthcare
In May 2021, Noora Health successfully auctioned off its unique Save Thousands of Lives NFT for 1.3k ETH — the equivalent of a staggering $4.4 million! The company was then able to advance its mission by creating health literacy programs explicitly designed for families, hoping that by improving basic healthcare knowledge at this fundamental level, they could save thousands of lives through prevention and education.
Noora Health’s initiative is certainly not the only of its kind within NFT technology. George Church, a renowned geneticist and professor at Harvard Medical School has been laboring on creating the Genomic NFT – an NFT token that can be purchased which includes Church’s entire genome. Once finished, this will prove to be groundbreaking in showcasing how intricate scientific data can securely reside on blockchain networks.
While many projects associated with healthcare and research in the NFT space are highly sophisticated, there is one outlier that stands out. Rainbow Rolls – anthropomorphic rolls of toilet paper – may seem silly at first glance but it has a greater purpose: to address medical debt which continues to plague our society today. By contributing funds from this project, RIP Medical Debt was able to forgive over $7 million of medical debt for low-income households across America. This proves that even something as simple as a collection of toilet paper can make a tremendous impact on others’ lives!
Final Words
Charitable NFTs are gaining traction as a tool to raise funds for important causes. From healthcare initiatives such as Noora Health to conservation efforts like Coorest and PLCnetwork’s Wildlife NFTs, NFT-based fundraising has the potential to make an immense difference in communities around the world. As the technology continues to mature, we will likely continue to see more creative uses of NFTs in charitable activities. It will be exciting to watch how these projects evolve over time and hopefully have a lasting impact on lives around the world!
At Fragmint, we are passionate about using blockchain technology for good. We believe that NFTs have the potential to revolutionize the charitable space and bring positive social impact in the future.
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