MLIKI — A hybrid marketplace that makes it possible to purchase physical goods and digital items like NFTs at the touch of a finger
When NFTs experienced a massive bull run in 2021, many people looked at the dollar signs and saw an opportunity — not only to fill their own pockets but for a good reason to do some social good. Since then, NFTs have emerged as one of the best ways to fundraise for important causes — from human rights to supporting underrepresented artists.
There are plenty of advantages when it comes to utilizing NFTs as a fundraising tool. The most obvious is that, by using NFT auctions to raise money, donors receive something in return: an NFT.
Through these NFTs, organizations can offer unique utility to their donors long after they make that initial donation. This can be access to events, physical merchandise, or even a stake in the eventual direction of the fundraising project.
According to the Giving Block, a streamlined platform for donating crypto funds to charitable organizations, even projects like the Bored Ape Yacht Club have donated nearly a million dollars as of November 2021 to their charity of choice: Orangutan Outreach.
Topping the Giving Block’s list is Artblocks, which has donated $3.5 million to MSF Australia as of November 2021. Hopefully, in the months since then, these high-grossing projects have continued to provide much-needed funds to their charities of choice. After all, true generosity is sharing your blessings even when there’s not much of them to go around.
How To Make Charity Program Using NFT
NFTs are unique records of physical or digital assets that are transacted on blockchain networks in similar ways to cryptocurrency, and as such, can be donated to nonprofits in much the same way.
So what makes NFTs suitable for charity? Well, according to a report by the World Bank, people are more likely to donate to charity if they feel they will receive something in return. This explains why many fundraising efforts employ the use of auctions and events to raise money.
In the case of NFTs, this effect can be compounded by the social status that owning an NFT from a charity auction can provide; users can prove that they have been charitable, which makes them more likely to donate.
In addition, blockchain technology allows the funds donated to charities to be tracked, ensuring there is greater trust and accountability for charities that can demonstrate that their funds have been effectively used — making blockchain potentially a game-changer for the charity sector.
Charities fulfil an essential role in our society. They are vital in solving issues and conditions that are often underfunded, so we’re also taking our part in building a sustainable future for humanity to thrive. If you’re a non-profit organisation/individual creator who is interested to launch a charity program, please come to our Admin in the Telegram group.
About MLIKI
MLIKI is a hybrid marketplace that makes it possible to purchase physical goods and digital items like NFTs at the touch of a finger
