It is widely believed that NFTs can influence the social good with the help of the great and the good

What are NFTs? Brag on social media? Gaining admission to exclusive avatar clubs? Flipping for a staggering profit? So far, these have been the primary use cases for non-fungible tokens. But like any emerging technology, the market may take a while to figure out how best to use it.

One startup believes it has found an untapped application of NFTs that treats them as more than speculative JPEGs minted in batches. Meaningful He insists that there is a place for NFTs within the charitable sector, as they can be leveraged to raise funds for charitable purposes, from environmental projects to humanitarian initiatives. But for that vision to come true, you will need the help of the great and the benevolent: celebrities, whose sprinkling of star dust will turn the humble NFT into a means to effect positive change.

Art meets heart

The Signifty concept proves its platform as such. Celebrities have charitable causes close to their hearts. NFTs have the potential to form passionate communities around common interests. Signifty wants to channel fan power into an effective force for social change through the use of Tasks. These are celebrity fronts campaigns approved by the project’s Good Deeds Center, which is creating an NFT group around the concept, with funds directed to the charitable cause.

For example, imagine that Popstar X wants to preserve the Javan rhinoceros, an endangered species in Ujung Kulon National Park. Personalized content in the form of audio, video, art, signature, letter or personal element of the star is digitized by Signifty, transformed into an NFT suite, and then made available to the public. The mission will detail fundraising goals, what revenue can be achieved, and how the NFT projection will continue.

Participation rules will also be enacted; The event may be whitelisted, and take the form of an auction or a fixed-price sale. If all goes as planned, the funding goal is reached, fans receive a piece of Popstar X in the form of exclusive NFTs, and Ujung Kulon National Park gets paid to preserve Javan’s rhinoceros. Everything is tracked on the chain, ensuring complete transparency, and everyone benefits.

The beauty of the system is that participants can participate for very different reasons, whether it’s altruism, speculation or an obsession with Popstar X, but all parties will come up with something to show for their efforts, and the endangered rhinos will forage another day.

The future of fundraising is social

While Signifty’s implementation of NFTs as a charitable tool is new, it is by no means the only startup that has stumbled upon the idea. Where the art is there The Arts, whose design is known for championing charitable causes, often auctions off their work or raises funds to facilitate this. Harnessing digital art for social betterment is just a logical development of this movement.

From raising money for Ukraine to helping environmental projects, NFTs have been used to funnel money to worthy causes of all kinds. Last year, legendary NFT artist Beeple auctioned off his Ocean Front NFT, raising $6 million for the Open Earth Foundation, while Edward Snowden did the same for the Freedom of the Press Foundation for $5.4 million.

Initiatives like these were one-time efforts, however, and served primarily to raise money from the already wealthy. Signifty aims to democratize the process by offering incentives to regular investors to participate, allowing everyone to claim a piece of the pie, do their part for a cause they (or their favorite celebrity) believe in, and earn an exclusive NFT as a souvenir or tradable item.

NFTs have come a long way since Pepe’s days on frog trading coins and pixel art. What started as an irreplaceable token standard has turned into a panacea for global improvement, one cause at a time.

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