Can Web3 and its associated technologies push forward both the involvement in, and the impact of environmental good? Many may raise their eyebrows when reading “environmental good” and “Web3” in the same sentence. The perception is that mining and minting NFTs results in significant environmental impact but increasingly we see innovations which minimise the energy required, or substitute green energy sources. For more info on the more sustainable methods take a read of our earlier blog post here:

Equally one might not consider NFTs an obvious choice when doing social good. But fundraising with Crypto is not in its infancy. Crypto has been used as a payment method/currency for donating since 2013, with Save the children being one of the first organisations to take crypto. Platforms such as every.orgthegivingblock and Engiven are available to make it easy for nonprofits to accept cryptocurrencies and can help your organisation provide this as an option for your donors.

This post considers how fundraising using NFTs can create a more sticky relationship with donors. It can generate more invested supporters and organically grow your supporter/donor network.

NFTs for environmental projects

In 2021 South Pole worked with the NEAR protocol to auction NFTs to fund climate initiatives. The project is based on a carbon neutral blockchain aimed to cover the climate cost with carbon offsets, and the NFT project is linked to a real life climate initiative. “By linking NFT art and the proceeds to real projects with certified climate benefits, we are creating a force that empowers many – from the artists, all the way to communities vulnerable to the climate crisis,“ says Marco Hirsbrunner, Chief Operating Officer at South Pole. Working with artists who are also passionate about the environment/sustainability and or an existing ambassador is a great way to both raise awareness of the drop and to drive fund-raising. An additional opportunity is to include a percentage of any additional sale that would go back to the charity/project involved.

NFTs offer more than a one and done donation

As NFTs are evolving, what is associated with them is also evolving. In the context of fundraising this is creating new ways to connect with audiences by taking the donation experience from a single donation event with limited follow up to an integrated community experience, with associated benefits.
An NFT supported by Web3 social channels enables those who are most passionate in the community to be involved continually and, as a result, to help grow the community through their influence. They can see their investment in the community grow, both in real terms through an asset associated with the NFT and in intrinsic value as an ongoing participant.
Building off Peter Wang’s recent post on the future of subscriptions being NFTs, this is how it can work for the non-profit space.

  1. You have a community interested in protecting the environment. – eg: the passionate residents of Chamonix valley.
  2. You create a Discord channel as a space for those who are the most passionate about the environment to participate and advocate.This becomes a dynamic space for environmental protection conversations and ideas.
  3. With your community input you launch an NFT membership collection. The community helps to decide the membership benefits, the number of NFT’s in the drop and the mint price.
  4. Those who purchase your NFT are committed and motivated to spread the word about your community, the benefits and the outcomes of the investments – i.e. what are we saving, building, preventing in the context of protecting and preserving the environment?
  5. The initial NFT becomes too expensive for new community members and the original NFT community can decide to issue a new NFT collection to expand the ownership.

This approach is a way of generating a steadfast and profound involvement from those who are passionate about the cause, to generate different scales of revenue over time.

NFT's for Good