Reports said that non-fungible tokens (NFTs) are either a new and exciting way to invest, or a bearish, overhyped sector.
It has been reported that journalists, investors, and collectors have paid significant attention to the growing NFT market in the past year. NFTs continues to be one of the most popular Web3 entry points, an opportunity for everyone from casual art fans to crypto billionaires to own a unique asset stored on the blockchain.
However, as NFT visionaries have recently pointed out, NFTs also has the potential to be used for incredible causes beyond digital asset collection. In the past six months, communities have launched NFTs to raise support for causes like testicular cancer, human trafficking, and the war in Ukraine.
While many believe the NFT trend is finally on the path to sustainable growth, its potential as a tool for charities is poised to reach exciting new highs in the coming months. This mission-driven innovation is not a new concept for the crypto and Web3 worlds. Metaverse worlds connect people that may have otherwise never met in the real world.
The report said that digital currencies and DeFi have created financial access and freedom for millions, if not billions, of people. In the closely related longevity space (the science behind healthier, longer human lives), research advancements are making it possible for people to live comfortably in their bodies for longer.
Likewise, the next element to be disrupted (or, in my view, upgraded) will be charitable giving through NFTs.
While bumper stickers and printed water bottles remain a common avenue for people to show off their philanthropic side today, there is a lack of high-quality, top-level rewards that offer the same visibility. When donors give to a charity, their contribution is typically only recognized with a “thank you” note and the opportunity to have their names listed on a commemorative plaque. This is definitive proof, but it lacks the engagement and community that people find inspiring.
Thus, NFTs linked to charitable giving are making showcasing charity support fashionable in the digital world. NFTs created by charities are not only developed with a cause in mind, but they are also designed to be attractive and exciting. Buying a mission-driven NFT also gives one a beautiful piece of digital art to show to the world.
Source: Cointelegraph