Dec 15, 2021
To mark the centenary of the Remembrance Poppy on 11 November, the Royal Canadian Legion unveiled a 100 limited edition poppy NFTs. The poppies were sold on online marketplace OpenSea. Should the poppy be resold, 10% of that sale will also go towards the non-profit (as the creator of the NFT).
So What?
RCL isn't the first charity to explore NFTs for fundraising. WWF Panda Labs have partnered with Carbonbase to create Project Ark, an online marketplace for rare digital collectibles or NFTs, which directly fund animal and environmental conservation efforts around the world. The Ark 2.0 is also operating as a DAO (which we've previously covered) to distribute funds raised.
NFTs are an entirely new way for people to collaborate and create. They could offer an interesting and new status-linked income generator for charities. (See our previous article on redefining ownership). But when exploring NFTs, beware the sustainability backlash. (Take a look at WWF Germany’s Twitter thread).