Make room for crypto in charity

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With the exponential growth of blockchain, the world is finally witnessing the use cases of cryptocurrency and blockchain technology for social causes and nonprofits. There has been a positive movement within the space as several projects have started to donate part of their income to charity.

However, there are very few direct links between blockchain projects and nonprofits that can actually benefit from transparent technology. As a solution, Baby Santa, a DeFi protocol, allows investors and organizations to donate to charity through crypto. With features like convenience, transparency, and transaction speed, the platform aims to provide investors with a gateway to give back by donating to charities while earning through staking on their platform, becoming thus a new form of income for charities.

How does crypto help raise money for charities?

According to the Association of Fundraising Professionals (AFP), charitable giving fell 6% in 2020, leading to a massive loss of income. Despite this, online fundraising increased 17.2% from the previous year.

The integration of blockchain and crypto with charitable fundraising has further expanded the ways in which organizations can raise funds. It also offered transparent support for donations that instills confidence in both giver and recipient.

Several organizations have started accepting donations in Bitcoin, Ether, stablecoins, and other digital currencies. Additionally, decentralized apps are now creating direct channels to contribute to social causes. With over $ 150 billion invested in this space, more and more initiatives are looking for ways to advance the crypto charity movement.

NFTs have recently become a frontier for fundraising, offering more than direct monetary giving. There have been several recent cases where NFTs have been used to raise funds for charities. In March 2021, the Open Earth Foundation received $ 6 million from the sale of Beeple’s NFT for charitable works of art.

This altruistic movement has made enormous strides, providing the charitable sector with transparency, inclusion and a global presence. There are, however, a few issues that continue to plague the charitable sector.

Existing challenges in the industry

One of the main issues with crypto charity is the lack of belief that the money will reach the cause. There have been countless instances where donations collected through crypto funding platforms did not reach the intended recipient but instead ended up in the wrong hands. For example, members of the FaZe Clan have been suspended over accusations that their “Save the Kids” cryptocurrency was a hoax. And although it was endorsed by popular influencers, the token was raffled off.

Another challenge faced by charity tokens is the source of funds verification. Since cryptocurrency transactions are designed to be secret, it is difficult for reputable charities to verify the source of funds received. This would create problems for organizations if the funds came from unknown or malicious sources.

Baby Santa Simplifies Crypto Charity Process

Baby Santa is a DeFi protocol aimed at helping the less fortunate. The platform’s native cryptocurrency is the Baby Santa Token, which aims to encourage the healthy development of the charitable utility.

The idea behind Baby Santa is to bring value to the needy while motivating investors and platform users to give more. Baby Santa will act as an income generating system where the profits can be distributed to the needy. The project goes beyond that and also seeks to benefit its investors by allowing investors to earn some form of secondary income in the form of BUSD rewards. Holders will also have the opportunity to accumulate their winnings through Santa’s Workshop Pools. It will also collect staking funds from the staking tax and redemptions which will be distributed to users who have staked their tokens.

Baby Santa will be hosting a 12-day Christmas NFT Lottery where users will be chosen by hitting a seasonal NFT during the NFT Mint Nutcracker event. Proceeds from this NFT mint will be donated to organizations and social causes that need it most. In addition, Baby Santa will strike NFTs under the name of different regions, and funds raised through these NFTs will be donated to causes specific to those regions.

Beyond that, the platform will have a store of merchandise, the proceeds of which will flow to those in need. Even the clothing collections will be made with seasonal themes, promoting the project and strengthening charitable programs, which will be active throughout the year.

Towards a more charitable future

Charitable intent has never been easy, as there have regularly been challenges caused by a lack of trust and transparency. However, the introduction of blockchain and crypto-philanthropy has shown some promising results. Baby Santa promises to be the gift to give, spreading the Christmas spirit throughout the year.


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