The simplicity that comes with cryptocurrencies might be a game-changer for charities. One influencer in the nascent space seems to be capitalizing on this phenomenon to save a sanctuary for at-risk youth.
Between Bitcoin (BTC) surging above $50,000 and the massive gains and upswells recorded in the altcoin markets, cryptocurrency has never been more appealing to speculators.
However, stacking profits via trading is perceived worthless unless the money is spent. Interestingly, charitable organizations are now waking up to the potential acquisition of crypto donations as the world gradually embraces cryptocurrency.
For one blockchain entrepreneur Wendy O, when a local gym was in distress, she had an idea of tapping into crypto Twitter seeking assistance. Using different social media platforms including her YouTube channel and Tik-Tok, the influencer managed to send out the call to save a business that is quite dear to her heart.
The boxing gym by the name The Self Care Lab is situated in Pomona, CA. It was launched to cater to the underprivileged and at-risk youth in that society. Nita Watson, the owner of the gym recently found out that the ownership of the building that houses the gym had changed hands. She was given just 30 days to vacate and find a new home for a community she had spent years building up.
Luckily, Wendy O is a long-time friend and client of the gym who is a strong proponent of using different methods of physical fitness to uplift the youth in society. Wendy went on to tap into her network of blockchain entrepreneurs, enthusiasts, traders, and self-declared “degens” to get money to more locations and upgrade a variety of worn-down equipment.
Although the gym’s Go Fund Me page is yet to reach its final goal at the time of writing, she and many other members are now optimistic that they will get enough resources in fiat and crypto to secure a new location. Wendy O told reporters:
“This gym has been such a massive part of my life and I can’t imagine where I’d be without it. It’s more than boxing, it’s about self-care and therapy. And a lot of these kids need a positive place like this to keep them focused and out of other less-productive activities. As someone who’s made a living in crypto, I knew I could count on my friends to step in and make a difference.”
Nevertheless, the innovation does not stop at letting people donate even cryptos. To get the attention of the budding blockchain art community, Wendy O managed to launch a series of nonfungible tokens (NFTs) on the Theta blockchain. So far, thousands of these NFTs have already been sold.
Notably, two of these NFTs are redeemable for consulting some sessions with Wendy O, and that has injected some utility into the donations. Bridging the gap between speculators and charity is quite a new phenomenon in the growing decentralized asset ecosystem. But, it is likely going to be more popular as more famous names in the industry start leveraging crypto for different charitable causes.
By circumventing payment operators, third-party processors, and middlemen, more of every crypto adoption can be received. Several other projects have already accepted donations in Bitcoin including the Dementia Society of America and the Kessler Foundation.
The PAWS Animal Rescue in Chicago recently started accepting donations in Dogecoin (DOGE). Even though no NFTs are featuring in the PAWS case, the appeal of helping the dogs with a renowned canine-themed token appears undeniable.
Interestingly, the blockchain industry has also been supporting charities that are focused on helping humanitarian efforts in Afghanistan. Thousand of refugees are seeking new homes throughout the world and nonprofits appear to be stepping up to take action. Recently, consulting company Visualize Value partnered with CARE to sell a variety of NFTs that cover a family’s emergency needs.
As impactful as these donations appear to be, many believe that it might be the convenience of cryptocurrency that eventually drives users to send the funds. In general, the traditional online donation route features filling out a long-form, manually typing credit card info, and many other steps just to complete a donation.
On the contrary, cryptocurrency investors are comfortable when making blockchain transactions. Sending Bitcoin and Ethereum takes a few minutes. In this case, instead of bidding on a penguin, they are now helping a just cause.
A normal glance at some of the posts available on Crypto Twitter may appear to be somewhat strange. The timelines are filled with various scams, random shills, different traders celebrating their wins, and heartbreaking stories of investors losing untold amounts due to bad trading practices.
While this appears to be a rough crowd to an outsider or a beginner, the people that can navigate the space can find charitable diamonds hidden in the rough.
