Blockchain technology has disrupted several industries, some being more marketed than others. Although equally valuable, one of these lesser-known industries that have undergone a major shift is that of fundraising. Under the traditional model, donations were typically inefficient, requiring high processing fees and less of the donated funds being allocated towards the nonprofit's mission. The other major concern is in addition to the inefficient donation model, it is difficult for organizations to connect with the larger community and inspire longstanding change.
With cryptocurrency, crowdfunding becomes more transparent, faster and cost-effective than traditional currencies, ensuring those in need receive the proper assistance. Furthermore, with the underlying blockchain technology, better tools ensure that cryptocurrency enthusiasts who desire to give back can quickly seek out projects with missions that align with their own goals while maintaining a certain level of transparency and security.
EarthFund demonstrates just one example of this new take on fundraising, arising as a cryptocurrency-based crowdfunding platform targeted at projects and ideas that can improve the world. Intending to put the power of change in a user's hands, the team has recently joined forces with best-selling author Deepak Chopra and the Chopra Foundation to launch the NeverAlone cause token and the Mental Health and Wellbeing autonomous community.
The Chopra Foundation has already demonstrated a strong foundation for success, based on their previous experience using blockchain for good, to launch the SameYou nonfungible token (NFT) collection with a Hollywood actress Emilia Clarke. When deployed, this collection raised money to help people recover from brain injuries, further propelling their next initiative, Never Alone, which is set to kick off in time for Mental Health Awareness Month in May. With Never Alone, participants will be given a chance to take part in a new approach to crowdfunding, in turn, supporting projects that make a real impact.
Joining online communities
Never Alone seeks to give power back to people, ensuring these same individuals have their voices heard as they become a part of the collective reframing of the story of mental health.
"That’s why we chose to collaborate with EarthFund, a platform that gives everyone the ability to participate and have a voice in making a more sustainable, peaceful, healthier and joyful world," Deepak Chopra, the co-founder of EarthFund, comments.
The result is that the NeverAlone cause token will become the first display of how Web 3.0 can accelerate the crowdfunding use case at large. The intent behind this project is further reflected in the missions of both teams. As Poonacha Machaiah, the co-founder of Never Alone and CEO of Chopra Foundation, shares, “our collaboration with EarthFund ensures complete transparency, ease of communication, decentralized decision making, independence and engagement of the community in the mental well-being project sponsorship, thereby leveraging the DAO and power of Web 3.0."
In practice, by swapping the 1Earth token, EarthFund's native token, in exchange for the NeverAlone cause token, users will be able to vet projects submitted for funding, vote on which projects get the funding they need and rate the impact of funded projects. They'll also be able to join online communities and propose changes to the project, including the mission, vision and community positioning, similar to any other decentralized autonomous organization (DAO).
To participate, users are invited to purchase EarthFund's native token –– 1Earth –– which is available on the team's official website or through exchanges including Kucoin, Uniswap and Gate.io. With the token, holders will become eligible for rewards after participating in cause-focused communities that are self-governed through voting on which projects to support and fund.
A giant step towards mass adoption
Together, this use case takes blockchain one step closer towards mass adoption. Working hand in hand, the Chopra Foundation is letting founders, activists and philanthropists focus on making the world a better place through a self-governed community while the EarthFund platform manages the complexities of the blockchain and makes it simple for anybody to start their own autonomous community dedicated to making the world a better place.
The result is that with blockchain challenging traditional models of fundraising, more people will be able to participate in making a real difference
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