Tuesday, January 19, 2021
Home CryptoPotato News NFTs Now Used for Charity Fundraising as Scope of Use Cases Continues...

NFTs Now Used for Charity Fundraising as Scope of Use Cases Continues to Widen

[Press Release]

Already hailed as the future of gaming, art and even real-world assets, blockchain innovators are continuously finding new ways to utilize NFTs (non-fungible tokens). Showcase, a digital collectible merchandise platform building on leading Ethereum Layer 2 scaling solution Matic Network, has recently joined forces with The Giving Block to enable unique donation campaigns using NFTs.

Creators on Showcase can select from over 100 nonprofit organizations partnered with The Giving Block to donate a portion of their revenue from the sale of their badges to the chosen charity. Content creators will be able to decide the amount of the sale price that will benefit the nonprofit.

Additionally, as a campaign to match the donations of the influencer, fans can contribute to the nonprofit directly from Showcase’s in-platform NFT viewer by simply clicking the “Donate” button and contributing BTC, ETH, ZEC and other cryptocurrencies.

As a recipient of Matic Network’s Build-n-Earn grants program, which is designed to enable the most promising blockchain projects to flourish and thrive, Showcase aims to bring NFTs to the masses with highly scalable technology built on Matic. By using Matic, Showcase is able to open access to NFTs to a wider audience by reducing transaction fees to an almost negligible level and massively increasing scalability, while remaining fully compatible with Ethereum.

“We believe that the visual power of NFT artwork is uniquely capable of inspiring and bringing people together, and also gives our 1,000+ Creators a deeper purpose for their social media journey. By utilizing Matic Network we are providing a scalable, easy-to-use platform for NFT adoption, we will be able to reach more people around the globe with inspiring messages and creative calls to action for social impact”, commented Reed Korach, Founder and CEO of Showcase.

To accelerate their fundraising efforts, in the near future Showcase plans to conduct a one-off NFT generation event, whereby a Creator from Showcase will be live-streaming a performance artwork piece that will be minted as an NFT and sold, with the proceeds going to a charity from The Giving Block.

The Giving Block will themselves be running a campaign for #BitcoinTuesday, the largest international day of cryptocurrency donation which kicks off the end-of-year fundraising season. This year it will take place on December 1, 2020.

Why would someone donate cryptocurrency at the end of the year? It’s simple. Donating cryptocurrency to a 501(c)(3) nonprofit is a tax-efficient way to offset your capital gains and get a great deduction on your tax return before the year ends. Stay tuned for more updates about which nonprofits are participating and how you can participate! In the meantime, you can view a full list of crypto-friendly nonprofits at https://www.thegivingblock.com/donate-bitcoin.

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