The hype around non-fungible tokens (NFTs) may die down, yet a number of organizations continue to implement Web3 initiatives. Nonprofits and activists, in particular, have begun implementing non-fungal token projects to help raise donations and spread awareness for certain causes.
While these approaches are still new, NFT’s philanthropic projects have been relatively successful. A recent report from crypto-donation platform The Giving Block found that nonprofit organizations using The Giving Block received more than $12.3 million in crypto donations from NFT-related charitable giving initiatives in 2021. The report also noted that charitable organizations that NFTs are used given the opportunity to connect with younger donor demographics while diversifying donation avenues.
NFT Projects for Breast Cancer Awareness Month
Such benefits can be particularly useful for raising awareness about life-threatening diseases. A number of organizations focused on breast cancer began implementing NFTs in October to highlight Breast Cancer Awareness Month.
For example, Chaney Jo Darden, founder of the Keep A Breast Foundation (KAB) — a California-based nonprofit that aims to reduce breast cancer risk — told Cointelegraph that KAB is focused on reaching out to younger generations to draw attention to breast cancer. She said:
“Although women over the age of 40 are usually diagnosed with breast cancer, early detection can result in a 98% survival rate. In light of this, KAB aims to spread awareness about breast cancer through encouraging and fun ways, such as using NFTs to educate young women”.
Last year, Darden said, KAB hosted an exhibition in the CryptoVoxels metaverse to raise money for breast cancer research. “We wanted to have an event in the Metaverse rather than do a membership campaign or party, because that opens up access globally,” she noted. Building on the success of this, Darden has made it clear that she wants to continue implementing Web3 initiatives—particularly those that include artwork created by women—to generate awareness about breast cancer. Most recently, Darden partnered with the NFT Project NFTitties to raise money for breast cancer prevention and education initiatives at KAB.
Carlotta Duchao Navera, founder of NFTitties, told Cointelegraph that the women-led project celebrates women, art and the breast to raise money to fight breast cancer. Emerging artists and activists were invited to submit artwork representing the breast, following a set of visual guidelines. The artworks are then screened and, if selected, included in the first edition of NFTitties,” she said.
According to Dochao Naveira, nearly 30 NFTs were sold during the first week the project launched on October 1. She also noted that NFTitties has helped bring more women into the Web3 ecosystem since the initiative encourages artists, activists, and others to submit their artworks to present them as non-moldable icons.
Other organizations implement various forms of NFTs to educate individuals about this type of cancer that affects one in eight women. For example, women’s handbag designer Vera Bradley announced October 3 that she will donate nearly 100% of proceeds from NFT Fashion Sale to the Vera Bradley Breast Cancer Foundation.
Jennifer Bova, Vera Bradley’s vice president of marketing, told Cointelegraph that to date, the foundation has raised and donated more than $38 million to support critical advances in breast cancer research. However, Buffa noted that Vera Bradley has begun focusing on marketing in the Metaverse to attract new users by linking the charitable benefit to NFT for digital and physical fashion. “Through NFT PFP Backgrounds, Vera Bradley hopes to raise awareness of fundraising, as well as the women-led conversations and initiatives at Web3,” she said.
We are proud to announce through Tweet embedWe accept now #Point Donations to support life-saving research in all fields #breast cancerFrom basic biology to prevention to treatment and survival. Donates @dotted And 80+ other # encryption Today https://t.co/XoT7atRdV5 pic.twitter.com/JgTYBx1JkQ
– Susan GKomen (@SusanGKomen) August 10, 2022
It is also worth noting that the Susan G. Komen Foundation, a leading research organization in the field of breast cancer, recently started accepting crypto donations to enable crypto holders to give back. Michelle Strong, Vice President of Marketing Strategy at Susan G. Komen, told Cointelegraph that about a year and a half ago, the organization began receiving requests from individuals interested in donating cryptocurrency:
“We implemented this feature nearly a year ago with the help of The Giving Block. This sparked interest from both existing and new donors, as crypto donations opened doors for those who couldn’t donate before but were interested in charitable work.”
Building on the successful implementation of crypto donations over the past year, Strong reports that Susan G. Komen will combine crypto donations, along with other digital donations received during the week of October 9-15, to fund the organization’s excellence in metastatic breast cancer. In Research Award.
“October 13 this year is Metastatic Breast Cancer Day, the most advanced stage of the disease. Susan G. Komen is presenting the Research Excellence Award to promote investment around this specific area of research, and cryptocurrency is another great way to support that.”
Web3 initiatives are helpful, but not necessarily better
While the use of NFTs and crypto donations to support breast cancer is innovative, these initiatives are still only useful ways to draw attention to certain causes. For example, Buffa noted that raising awareness and funding for breast cancer research in the Metaverse is not necessarily better but rather an additional source of benefit for new donors and volunteers. Echoing this, Darden stated that merging NFT projects with KAB enables the organization to diversify its funding, however it has not proven to be a better solution compared to traditional fundraising mechanisms:
“Many NFT projects die over time, so KAB risks being part of certain projects. However, NFTitties have a clear purpose and beautiful art that resonates with the KAB community.”
In fact, although there are a number of risks associated with NFT projects, non-fungible tokens remain attractive when it comes to increasing user engagement and interest.
“Susan G. Komen is happy to benefit from NFT projects that others can bring together. We are currently in talks with an NFT project that aims to benefit our organization.”
However, it is also important to note that in addition to the risks, there are challenges associated with the implementation of such projects.
According to Dochao Naveira, targeting traditional NFT investors can be tricky when it comes to women-led initiatives “There is a tendency to have a fraternal culture in the Web3 space that doesn’t care much about specific projects. There can also be difficulties in helping regular users build a MetaMask portfolio. “.
But as time progresses, Web3 projects aim to incorporate new features to help ease setup and educate new users. For example, Carmen Towal, CEO and co-founder of Sprkl NFT Studios – a platform that works with nonprofits and individuals to implement NFT technologies – told Cointelegraph that ordinary users usually need more guidance when it comes to participating in NFT projects.
As such, you reported that Sparkl NFT Studios is merging the familiar with NFT philanthropic initiatives. “We sometimes include a ‘donate now’ button that is not directly associated with the NFT programme,” she said.
Recently, Sprkl NFT Studios partnered with the National Breast Cancer Foundation, Inc. (NBCF) at a fundraiser for NFT artwork for Breast Cancer Awareness Month. Candice Hensley, Senior Director of Strategic Partnerships at NBCF, told Cointelegraph that working with Sprkl NFT Studios is part of the organization’s strategic plan to diversify its funds.
Originally published at San Jose News Bulletin
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