The simplicity of crypto could be a game-changer for charities. One influencer is capitalizing on this to save a sanctuary for at-risk youth.
Between Bitcoin (BTC) breaking the $50,000 hurdle and the upswell in the altcoin markets, crypto has never been more appealing to speculators. But, stacking profits through trading is worthless unless that money is spent. Luckily, charitable organizations are waking up to the possibility of crypto donations as the world embraces crypto. For blockchain entrepreneur Wendy O, when a local gym was in jeopardy, she knew to tap into crypto Twitter for help. Using social media, her YouTube channel and Tik-Tok, the influencer sent out the call to save a business dear to her heart.
However, the innovation didn’t stop at allowing crypto donations. To capture the attention of the nascent blockchain art community, Wendy O successfully launched a series of nonfungible tokens (NFTs) on the Theta blockchain, with thousands sold so far. Two of these NFTs are redeemable for consulting sessions with Wendy O, injecting some utility into the donations. Bridging the gap between speculators and charity is a relatively new phenomenon in the decentralized asset ecosystem, though it will likely be more popular as more well-known names in the space begin leveraging crypto for charitable causes. By avoiding payment operators, middle-men and third-party processors, more of each crypto donation is able to be received.
Most recently, the blockchain sector has been supporting charities focused on assisting humanitarian efforts in Afghanistan. As thousands of refugees seek new homes all over the world, nonprofits are stepping up to take action. Consulting firm Visualize Value recently joined forces with CARE to sell NFTs that cover a family’s emergency needs.