For charities, the simplicity of crypto could make a big difference. One influential person is using this opportunity to save a sanctuary from at-risk youth.
Crypto has never been more attractive to speculators, with Bitcoin (BTC), breaking the $50,000 barrier and the rise in altcoin markets. However, if the money is not spent, it is useless to stack profits via trading. Luckily, charitable organizations are waking up to the possibility of crypto donations as the world embraces crypto. For blockchain entrepreneur Wendy O, when a local gym was in jeopardy, she knew to tap into crypto Twitter for help. The influencer reached out to her friends via social media and Tik-Tok to save a company she cares about.
Pomona’s Self Care Lab, a boxing club that caters to at-risk and underprivileged youth, is home to The Self Care Lab. Nita Watson, the owner of the gym, discovered recently that the building’s ownership had changed hands. She had only 30 days to leave and find a new home in the community she had worked so hard to build.
Wendy O, a long-time client at the gym, is a strong advocate of physical fitness as a way to lift the youth. Wendy reached out to her network of traders, blockchain enthusiasts, entrepreneurs and self-described “degens” in order to raise funds to move locations and upgrade old equipment. While the gym’s Go Fund Me page has not reached its final goal, she and other members are optimistic they will raise enough donations in fiat and crypto to secure a new location. Wendy O spoke to Cointelegraph
“This gym is a huge part of my life. I cannot imagine what I would do without it. It’s not just about boxing. It’s also about self-care, therapy, and therapy. Many of these children need a place like this to help them stay focused and away from other less productive activities. My friends and I have made a career out of crypto.
The innovation didn’t end with crypto donations. To capture the attention of the nascent blockchain art community, Wendy O successfully launched a series of nonfungible tokens (NFTs) on the Theta blockchain, with thousands sold so far. These NFTs can be used to pay for Wendy O’s consulting sessions, which adds some utility to the donations. This is a new concept in the decentralized asset system. However, it will become more popular as more prominent names in the space start to use crypto to support charitable causes. You can receive more from each cryptocurrency donation by avoiding middle-men, payment operators, and third-party processors.
Others projects accept Bitcoin donations, including the Kessler Foundation or the Dementia Society of America. The most recent addition to the PAWS Animal Rescue’s (DOGE) donation list was Dogecoin (DOGE). Although there are no NFTs in the PAWS case, it is obvious that dogs can benefit from such a popular token with a dog-themed theme.
Most recently, the blockchain sector has been supporting charities focused on assisting humanitarian efforts in Afghanistan. Nonprofits are taking action as thousands of refugees look for new homes around the globe. Consulting firm Visualize Value recently joined forces with CARE to sell NFTs that cover a family’s emergency needs.
These donations can be very impactful, but it is the convenience of cryptocurrency that may drive more people to send money. The traditional way to make a donation online is to fill out a long form and manually enter credit card information. In contrast, for crypto investors comfortable making blockchain transactions, sending BTC or Ether (ETH) is second nature. In this instance, instead of bidding for penguin NFTs they are supporting a noble cause.
Some of the Crypto Twitter posts may appear a little strange if you take a casual look at them. There are many stories about traders losing large sums of money due to poor trading habits, random shills and scams. It may seem like a rough group to outsiders, but those who are able navigate the space can find charitable diamonds in it.