How to use NFTs for charitable fundraising
NFTs have become a powerful fundraising tool. Almost as soon as the NFT market took off, creators began thinking of ways to use their earnings to give back to their communities and those most in need. Creators on Voice are no exception.
A number of Voice creators have forged partnerships with charities or have made personal pledges to donate a portion of the proceeds from their NFT sales to charitable causes.
How can I use my NFT sales to donate to charity?
There are a number of ways creators can integrate charitable giving into their NFT strategy. Creators can make a personal pledge, write the stipulation into the NFT description, and add it to the blockchain.
Another way to integrate a charity would be through collaboration. In this case, the charity would create a Voice account and the creator would list them as a collaborator. This collaboration would allow the charity to continue receiving a percentage of secondary sales in perpetuity. Utilizing NFT sales to fundraise can be as simple as that.
Art with a social impact
The ability to utilize NFTs for fundraising is an incredible blockchain-enabled feature and results have been truly momentous on a global scale. Celebrities, global corporations, and even governments have utilized NFT fundraising to raise money for the causes dear to their hearts. The department store giant, Macy’s, sold NFTs of the Macy’s Thanksgiving Day Parade floats with 10% of proceeds going to the Make a Wish Foundation. Bids for some of their NFTs topped at $310,000. Ukraine just announced via their prime minister’s Twitter that the country has plans to issue NFTs to raise money for Ukrainian defense against the Russian invasion. The country recently raised nearly $60 million through more than 118,000 crypto asset donations. The ability to successfully raise money so instantly and globally via the blockchain is truly the future of fundraising efforts.