New ‘Impact NFT’ innovation on the PlayMining GameFi platform auto-donates a portion of P2E rewards to someone in need when the NFT is used in-game.
While we would all like to be able to give more to charity, this is a hard ask for young people who typically have little disposable income to share. Now, there’s a new Web3 innovation that makes it easier to donate to those in need — GameFi NFTs that send a percentage of Play-to-Earn (P2E) token rewards to a predetermined donee.
Dubbed ‘Impact NFTs’ and premiered on the PlayMining GameFi platform, these philanthropy NFTs are quite clever, actually. When used in a PlayMining game, the Impact NFT is designed to automatically donate a portion of DEAPcoin ($DEP) earnings to the wallet of a poor banana farmer in the Philippines—the first charity recipient in PlayMining’s Impact NFT initiative.
The First ‘Impact NFTs’
Digital Entertainment Asset (DEA), the company that operates PlayMining and creates most of the games on the platform, designed these NFTs to make social impact acts easy for gamers on their platform. DEA’s co-founder and co-CEO Kozo Yamada explained that they wanted to help make donations more accessible for younger people, since charities are primarily supported by older generations who can more easily afford it. Now, anyone can donate to those in need simply by playing a game.
In their search for a good candidate for the first batch of Impact NFTs, DEA came upon the story of Djhau, a banana farmer from the Philippines. DJhau (not his real name) opened his banana farm after the devastating COVID-19 pandemic caused his previous business to fail. However, he is still struggling to support his family of 11 (including nine siblings), and is reaching out for external help to keep the banana farm afloat. In addition to supporting his own family, DJhau is also passionate about creating employment and supporting economic activities in his local community—ideals that DEA are proud to endorse.
This Impact NFT collection, verbosely named “[Lucky Farmer] <Be the Change! Impact NFT> DJhau”, is specifically made to be used in the PlayMining coin-pusher game Lucky Farmer. When NFT holders earn DEAPcoin through play, 20% of the rewards will automatically be sent to DJhau’s wallet. The farmer has also recorded a personal thank-you video letter, which will be sent to those who make Impact NFT donations.
Making a Social Impact Through GameFi-for-Good
Impact NFTs are not the first social good initiative that DEA has spearheaded. In fact, the company is wholly dedicated to using GameFi to create a social impact, a movement they dub “GameFi-for-Good”.
Investing.com recently featured DEA in an article about the top Web3 companies devoted to tackling some of the most pressing issues faced by modern societies, such as poverty and inequality. In DEA’s case, they use P2E to help people from poor communities in Southeast Asia (SEA) earn supplemental income without having to get a second job—they even have some players who are able to earn a full-time income from PlayMining games. DEA is also engaged in a number of other business development activities in SEA with the goal of supporting social impact, such as a recent partnership aimed at solving the problem of untended public infrastructure in poorer regions where government utility organizations are understaffed.
DEA also uses their PlayMining platform to support small businesses and independent content creators. DEA pays out royalties to both official artists and fan art creators who sell NFTs on the PlayMining NFT marketplace, with over SG$9 million in royalties having been paid out so far. DEA also partners with third-party indie game studios to create new P2E games on the PlayMining GameFi platform. These small game developers benefit greatly from being able to incorporate the DEAPcoin P2E token economy into their game and utilize the NFT market to monetize their IP through art sales.
The PlayMining GameFi platform has more than 2.7 million users. Their games include Job Tribes, Cookin’ Burger, Menya Dragon Ramen, Graffiti Racer and Lucky Farmer, with their newest game title Lost Archive + launching soon. All PlayMining P2E games allow players to earn DEAPcoin ($DEP) through play, which can be traded on popular exchanges or spent on the PlayMining NFT or PlayMining NFT Premier marketplaces on collectible cards and game items.
Visit PlayMining’s website and follow them on social media to get the latest updates. More details about PlayMining’s Impact NFTs can be found on their recent blog post.