NFTs are a convenient and transparent method for charities to raise funds. Donations in this way are decentralized in nature, frictionless, and globally accessible. This gives donors increased visibility on their donations and exclusive access to the merchandise and perks determined by the charity. It’s a new way to engage and connect with donors, driving involvement while increasing the voice and value of the charity. CharityX NFTs are legally classified as charitable donations, meaning that donors can rest assured that a donation through an NFT will be treated the same as any other donation.
The amount of energy required to create a CharityX NFT is a small fraction of the amount of energy typically required to create NFTs. This makes them safe for the environment and cost-effective for large campaigns.
There are three templates for CharityX NFTs developed by GivingTuesday for charities, brands, and influencers to choose from. The options are as follows:
Charity NFTs — This is a standard approach. The NFT collection will be hosted and launched by the charity itself. The charity may choose a campaign, cause, or location as the primary focus. The perks of the NFT will come from the charity, such as private communication and physical gifts.
Brand NFTs — A hybrid approach empowered by NFT technology. A corporate partner will host and launch this collection. The proceeds will go to charity, but the perks will come from the brand. These perks can include discounts on the brand’s website or exclusive access to limited-edition merchandise.
Celebrity NFTs — This approach is a combination of the two above. It is hosted by the celebrity but launched by the charity. This means that the celebrity endorses and promotes the NFT collection, but the perks of the NFT will likely come from the charity.
How to Get Started With CharityX
For those of you who may not know how to get involved with blockchain technology, just follow the few easy steps below.
Option 1 — Purchase with a debit or credit card
Option 2 — Purchase with ETH
What you will need is to download a free browser extension called “MetaMask”. Download and follow the short instructions. Make sure to write down your recovery phrase and keep it somewhere safe. This is the digital wallet that will hold the NFT.
Visit the project’s landing page.
Click “View pass drop”.
Click “Connect Wallet” in the top right corner, click “MetaMask,” and then type in your password if a window pops up in the top right corner. If no window pops up, a string of numbers will have replaced the words “Connect Wallet”. This means you are already logged in and connected.
Now you are ready to click “Mint,” choose how many you want to mint, and then click “Buy with credit card”.
And then you’re done! Your MetaMask digital wallet will then be holding your new CharityX NFT. Because of the nature of blockchain technology, you will own your NFT for life; a digital certificate of authenticity.