“Donating crypto is a win/win,” biggiemaules told CoinDesk. “People who have accumulated crypto want to give to their favorite organizations. They don't have the cash to give, but they have crypto.” megdematteo reports on how to use crypto for good:
After all, Web3 communities value gamification, community and ongoing social engagement. In a future where consumers’ identities and social reputations are linked to their crypto wallets, Maule and Aguiar expect donors will appreciate crypto-native rewards structures and collectibles that signal their values and passions.
Similar to proof-of-attendance-protocols , or digital collectibles redeemed by attendees for participating in a special event, Givepact is considering new ways to let donors see and display their philanthropic history on-chain in order to make giving “addictive.”“We know that people are going to give because they care and for tax reasons,” said Maule. “But we also know that we have this very energized NFT audience that may now consider philanthropy part of their identity.
“We've seen situations in the wake of crises where people spin up [crypto] wallet addresses or ‘DAOs’ to support humanitarian causes. Those wallet addresses get shared on Twitter and Discord, but no one really ultimately knows where the money is going,” said Aguiar. Risks of getting scammed are particularly high when individuals send money directly from one self-custody crypto wallet to another without first vetting the recipient. Last year, the U.S. Federal Trade Commission published a
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