NFT: Empowering Artists and Charities to Embrace the Digital Movement

As NFT visionaries recently pointed out, NFTs also have the potential to be used for amazing causes beyond collecting digital assets. Over the past six months, communities have launched NFTs to increase support for causes such as testicular cancer, human trafficking and the war in Ukraine. While many believe the NFT trend is finally on a path to sustainable growth, its potential as a tool for charities is poised to reach exciting new heights in the months ahead.

This mission-driven innovation is not a new concept for the crypto and Web3 worlds. Metaverse worlds connect people who might otherwise never have met in the real world. Digital currencies and DeFi have created financial access and freedom for millions, if not billions, of people. In the space closely related to longevity (the science behind healthier, longer human lives), advances in research are allowing people to live comfortably in their bodies longer. The world we live in today is very different from what it was just five years ago – and it’s not stopping. The next thing to be disrupted (or, in my opinion, improved) will be charitable giving through NFTs.

Related: NFT Philanthropy Demonstrates New Ways to Give Back

Show your support

In the mid-2000s, we saw a trend where supporting your favorite causes became all the rage. Bright yellow Livestrong wristbands, WWF shirts and tote bags emblazoned with charitable foundation logos have become an easy way for people to show the world they care about a certain cause. While bumper stickers and printed water bottles remain a common way for people to show their philanthropic side today, there’s a lack of high-quality, high-level rewards that provide the same exposure. . When donors donate to a charity, their contribution is usually recognized only with a thank you note and the opportunity to have their name inscribed on a commemorative plaque. It’s definitive proof, but it lacks the engagement and community that people find inspiring.

NFTs related to charitable donations are making the presentation of charitable support trendy in the digital world. Charity-created NFTs aren’t just developed with a cause in mind – they’re also designed to be engaging and exciting. Purchasing a mission-focused NFT also yields a beautiful piece of digital art to show the world. As Instagram and Spotify prepare to bring NFT functionality to their platforms, the future of NFT-based donations appears to be increasingly social. There is potential for communities already on these social platforms to rally behind meaningful causes, as we saw with the Twitter community helping fund a member overwhelmed with high medical bills. The crypto community has proven itself to be a powerful force time and time again, which makes me confident of a bright future for NFTs and charity.

NFTs benefit artists and foundations

While there’s a lot of attention paid to the latest celebrities joining the NFT craze and new drops with rare art, what buying an NFT actually means for a charity is less explored. I have already mentioned that it is time for the philanthropic sector to embrace the crypto wave, because adopting digital currencies and technologies like NFTs can attract visionary investors eager for innovative ideas and new ways of looking at the world. .

When these visionaries, or anyone else, purchase a goal-oriented NFT, they have the opportunity to uniquely show their support for a cause. It’s also important not to overlook the artist in these conversations. Creators are using NFTs to redefine their relationships with supporters, including encouraging their fans to support the causes they care about. There is a popular misconception that buying NFTs is a new way for investors to spend money.

Mission-driven NFTs challenge this narrative by showing the world that NFTs are a way to unite charitable giving and artist support. They allow organizations to benefit from new technologies while remaining true to their mission and values. I believe longevity is one area that will embrace this technology with ease. Longevity supporters are forward-thinking luminaries who also happen to be crypto enthusiasts – a perfect match for NFT-related donations. Hopefully we’ll see more about that very soon.

Related: Where Men Wanted, Women Did: Empowering Female Creators with NFTs and Crypto

A new approach to charitable giving

In general, the phrase “charitable giving” has had an element of “old-fashioned” philanthropy. It reminds me of writing paper checks mailed to your favorite 501(c)3. Sure, it always makes you feel good to support a cause, but it leaves a lot to be desired in terms of ongoing commitment. Building a community of passionate, innovation-driven supporters is an incredible way for charities to reach new audiences and achieve their fundraising goals. However, it will take a shift in the way we think about giving to make it a reality.

In my opinion, the new charitable donation is crypto-native, social and decentralized. By accepting crypto donations directly, you can donate directly to foundations, without having to cash out your crypto and incur tax liabilities. The social element of giving will allow you to highlight the causes that matter most to you through your NFT collection. And it will be truly decentralized, which means anyone, anywhere in the world can support important causes. While donor recognition dinners may be a thing of the past, a virtual network of connected supporters with diverse backgrounds and perspectives offers an exciting alternative future. NFT-based utilities are also an incredibly powerful tool to help communities track members and reward contributions with benefits and access to exclusive opportunities and services beyond the distribution of a digital image.

We are living longer and live in a more connected society than ever. It follows that we should then be more supportive and concerned about philanthropy – but, to do that, we need to bring charitable giving into the fold.

The views, thoughts and opinions expressed herein are those of the author alone and do not necessarily reflect or represent the views and opinions of TBEN.