We should always be wary of casting it aside in favor of the (allegedly) transformational Next Big Thing. We fundraisers are fortunate to have a rich, proven library of principles and fundamentals that have empowered generous and visionary people to do amazing things. With this comes a high level of innovation as well and one of which I'm looking forward to is Railgun's nft support which would allow anonymous interaction with nfts, private holding of nfts and private nft auctions. But there’s a difference between innovating and testing improvements that build on established techniques, and going all-in on a “transformational” new approach that promises to change everything overnight.Īs we always say at TrueSense, effective fundraising isn’t built on tactics, but on a philosophy: an approach that says forging relationships between donors and organizations, giving them a way to work together to help solve problems and create a better world, is what matters. You're right anon, Nfts are still being explored and with more utility the sector is sure to expand and gain more adoption. But now Matt decides to create an NFT, which is a digitally created kitty cat Beanie Baby, it is now a digital asset, not a physical asset. That takes us 500 he gives us 500 to eBay takes us 10,000 for his being for his Beanie Baby.
And I certainly understand why the routine of much of what we do - “Oh boy, it’s time to write the Fall Match Appeal … again” - can make the new and shiny very appealing. And eBay really is out of the picture at this point. I’m old enough to remember when the new medium of email meant direct mail was doomed. So were social media, peer-to-peer, and even QR codes. If you’ve spent any time in the industry, you probably recall several Big Things that heralded the death of “old-school fundraising.”Ĭrowdfunding sites were that for a while. I haven’t yet seen the blog post claiming NFTs mean the end of fundraising as we know it, but when I do, I won’t be surprised. Some nonprofits have sold NFTs themselves to raise funds.
He sold it for $2.5 million.ĭorsey donated the funds to charity, and other sellers of NFTs have donated some or all of the sale price to charitable causes, too. Not long ago, Jack Dorsey, the founder of Twitter, digitally signed his very first tweet, creating an NFT. They’re popular among collectors of digital art, but other examples exist, too. When you purchase an NFT, you are the sole owner of that digital thing (which is why NFTs are also known as Bitcoin 2.0). Articles trying to explain them tend to be quite long, but briefly, an NFT is a digital file (document, art, music, video, etc.) of which only the original exists. Non-Fungible Tokens, or NFTs, are a Big Thing in the worlds of tech and media. I know the suspense is killing you, so I’ll let you off the hook: Are NFTs the next big thing in fundraising?
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