Almost out of nowhere, non-fungible tokens (NFTs) have become an emerging fundraising vehicle for non-government organizations and non-profits. In fact, NFTs are attracting celebrity partnerships and driving fundraising charitable gifts to NGOs and non-profits, some as large as $3.5 million USD.
Social PayMe – a new web 3 fintech company that has built a platform-as-a-service NFT marketplace for social media influencers, brands, and followers – wants to democratize this trend of charitable fundraising via NFTs by enabling everyone to turn their social media posts into charitable contributions. It does this by allowing anyone to mint their social media posts into NFTs for free and donate either a portion or all of the proceeds to one of over 200 charities worldwide.
Dr. Ravi Singh, founder of Social PayMe, believes that this will make a significant positive impact on the philanthropic world, while also increasing the visibility of every non-profit organization, regardless of size or participation in the Social PayMe platform. “We are empowering the next generation to give in a way that is uniquely Web 3.0”, stated Dr. Ravi Singh.
Social PayMe allow creators with a social media account to mint either a new or existing old post into an NFT on any blockchain (currently Ethereum 2.0, Algorand, Binance, and Polygon) with just a few clicks. It will also allow the NFT to be sold and the proceeds to be donated to any charity of their choosing. The charity will be notified of the contribution and can even earn a share of perpetual royalties on secondary sales (if the NFT was minted and traded on the Social PayMe marketplace).
The blockchain technology also ensures complete transparency and compliance with regulatory entities as well as allowing easier record keeping for non-profits.
“With more than 1.5 million registered non-profits and a global reach of 10 million NGOs (of which over 87% have a social media presence), we have a real opportunity to impact the social footprint of brands via NFTs,” explains Gui Hada, LATAM Co-Founder. “This is a way for brands, corporations, nonprofits and organizations to implement their words into continued actions – and also to continue ESG practices as part of their footprint.”
Social PayMe believes this new method of fundraising for non-profits in the era of web 3.0 and the metaverse will foster new relationships (and improve existing ones) between content creators, influencers, celebrities, brands, and charities. It also hopes that by sharing their passion for social good with a devoted fanbase and followers on Facebook, Instagram, Snapchat, TikTok, Pinterest, LinkedIn, YouTube, and other social media platforms, it can help raise visibility as well as funds for charities that join the Social PayMe Network.
The new feature will be available by the end of 2022 just in time for the winter holidays, a key fundraising season for non-profits.
