Between Bitcoin (BTC), which broke the $ 50,000 hurdle, and the boom in altcoin markets, crypto has never been more attractive to speculators. But it is worthless to stack profits by trading unless that money is spent. Fortunately, charities are realizing the possibility of crypto donations as the world accepts crypto. For blockchain entrepreneur Wendy O, when a local gym was in jeopardy, she knew she had to turn to crypto twitter for help. The influencer called on social media, her YouTube channel and Tik-Tok to save a company that is close to her heart.
The Self Care Lab is a boxing gym in Pomona, CA that caters to disadvantaged and vulnerable teens. Owner Nita Watson recently discovered that the gym building had changed hands and she only had 30 days to vacate and find a new home for a community she had built over years.
Thankfully, Wendy O has been a long time client of the gym and a strong advocate of physical fitness to empower youth. Wendy used her network of blockchain enthusiasts, traders, entrepreneurs, and self-proclaimed “degens” to raise the funds to not only move locations, but also to upgrade various, worn-out pieces of equipment. While the gym’s Go Fund Me page has not yet reached its final destination, it and other members are optimistic that they will raise enough donations in fiat and crypto to secure a new location. Wendy O told Cointelegraph:
“This gym has been such a big part of my life and I can’t imagine where I would be without it. It’s more than boxing, it’s about self-care and therapy. And many of these kids need a positive place like this to stay focused and to stay away from other less productive activities. As someone who made a living doing crypto, I knew I could count on my friends to step in and make a difference. “
However, the innovation didn’t stop at allowing crypto donations. To attract the attention of the emerging blockchain art community, Wendy O has successfully launched a number of non-fungible tokens (NFTs) on the theta blockchain, thousands of which have been sold to date. Two of these NFTs can be redeemed for counseling sessions with Wendy O, which brings some benefit to the donations. Bridging the gap between speculators and charities is a relatively new phenomenon in the decentralized asset ecosystem, although it is likely to be more popular as better-known names in the industry begin to use crypto for charity. By avoiding payment providers, middlemen, and third party processors, more can be received from every crypto donation.
Related: Prioritizing humanity over profit through NFTs
Other projects have long accepted donations in Bitcoin, including the Kessler Foundation and the Dementia Society of America. PAWS Animal Rescue in Chicago recently started accepting donations in Dogecoin (DOGE). While there are no NFTs in the case of PAWS, the appeal of helping dogs with such a popular dog-themed token seems undeniable.
More recently, the blockchain sector has been supporting charities focused on supporting humanitarian efforts in Afghanistan. As thousands of refugees around the world seek new homes, nonprofit organizations become active. Consulting firm Visualize Value recently partnered with CARE to sell NFTs that meet a family’s emergency needs.
Related: Digitize charity: We can do good better
As powerful as these donations are, it could be the convenience of crypto that ultimately drives more users to send funds. In general, the traditional way to donate online involves filling out a long form, manually entering credit card information, and other steps to complete a donation. In contrast, sending BTC or Ether (ETH) is a matter of course for crypto investors who like to carry out blockchain transactions. In this case, instead of bidding on Penguin NFTs, they are helping a just cause.
A cursory glance at some of the posts on Crypto Twitter may seem a bit strange. The timelines are filled with random shills, various scams, traders celebrating their wins, and stories of people who have lost untold sums of money due to bad trading practices. While it may seem like a rough crowd to an outsider, those who can navigate space can find charitable diamonds in the rough.
This article does not provide investment advice or recommendations. Every step of investing and trading involves risk, and readers should do their own research when making a decision.
Kaltoro is Senior Social Media Manager at Cointelegraph.
The views, thoughts, and opinions expressed herein are those of the author alone and do not necessarily reflect the views and opinions of Cointelegraph.