NFTs and crypto provide fundraising opportunities for breast cancer awareness

by · October 13, 2022

The hype surrounding nonfungible tokens (NFTs) may be fading, but a number of organizations continue to implement Web3 initiatives. Not-for-profit organizations and activists in particular have begun implementing non-fungible token projects to help raise money and create awareness for certain causes.

Although these methods are still new, NFT projects for philanthropy have been met with relative success. A recent report from crypto-donation platform The Giving Block found that nonprofits using The Giving Block received more than $12.3 million in cryptocurrency donations from NFT-related charitable initiatives in 2021. The report further noted that charities using NFT are presented with the opportunity to connect with a younger donor demographic while diversifying donation methods.

NFT Projects for Breast Cancer Awareness Month

Benefits like these can be especially helpful in raising awareness of life-threatening illnesses. number of breast cancer-focused organizations have begun implementing NFTs this October to highlight Breast Cancer Awareness Month.

For example, Shaney jo Darden, founder of the Keep A Breast Foundation (KAB) – a California-based non-profit organization that aims to reduce breast cancer risk – told Cointelegraph that KAB focuses on engaging with younger generations to bring awareness to breast cancer. She said:

“Although women over 40 are usually diagnosed with breast cancer, early detection can result in a 98% survival rate. Given this, KAB aims to create awareness about breast cancer through encouraging and fun ways, such as using NFTs to educate young women.”

Darden said that last year KAB hosted an exhibition in the CryptoVoxel metaverse to raise money for breast cancer research. “We wanted to do an event in the Metaverse as opposed to doing a membership drive or gala, as this opens up access globally,” she noted. Based on the success of this, Darden explained that she wanted to continue implementing Web3 initiatives—especially those involving artwork created by women—to raise awareness about breast cancer. Most recently, Darden partnered with the NFT Project NFTitties to raise funds for KAB’s breast cancer prevention and education initiatives.

Carlota Dochao Naveira, founder of NFTitties, told Cointelegraph that the female-led project celebrates women, art and breasts to raise funds to fight breast cancer. “Aspiring artists and activists were invited to submit an artwork representing breasts, following a set of visual guidelines. The artworks were then vetted and, if selected, included in the first release of NFTitties,” she said.

NFTitties #1.14 by Medici_Labs. Source: OpenSea

According to Dochao Naveira, almost 30 NFTs were sold during the first week the project was launched on October 1st. She further pointed out that NFTitties has helped more women into the Web3 ecosystem since the initiative encourages women artists, activists and others to submit their artwork to be featured as non-fungible tokens.

Other organizations are implementing various forms of NFTs to educate individuals about this type of cancer that affects one in eight women. For example, women’s bag designer Vera Bradley announced on October 3 that it will donate nearly 100% of the revenue generated from its fashion NFT drops to The Vera Bradley Foundation for Breast Cancer.

Jennifer Bova, vice president of marketing at Vera Bradley, told Cointelegraph that to date, the foundation has raised and donated more than $38 million to support critical advances in breast cancer research. Still, Bova noted that Vera Bradley has begun to focus on marketing in the Metaverse to attract new users by tying philanthropic benefit to its digital and physical fashion NFTs. “Through her NFT PFP background, Vera Bradley hopes to raise awareness of fundraising, as well as women-led conversations and initiatives in Web3,” she said.

It is also notable that Susan G. Komen, a leading breast cancer research foundation, recently began accepting crypto donations to enable cryptocurrency owners to give back. Michelle Strong, vice president of marketing strategy at Susan G. Komen, told Cointelegraph that about a year and a half ago, the organization began receiving requests from individuals interested in donating cryptocurrency:

“We implemented this feature almost a year ago using The Giving Block. This has driven interest from both current and new donors, as crypto donations have opened doors for those who have not been able to give before but were interested in being charitable.”

Based on the successful implementation of crypto donations over the past year, Strong mentioned that Susan G. Komen will include crypto donations, along with other digital donations received during the week of 9-15. October, to fund the organisation’s metastatic breast cancer. in research award.

“Increased. 13 this year is ‘metastatic breast cancer’ day, which is the most advanced stage of the disease. Susan G. Komen presents the Excellence in Research Award to strengthen investment around this specific area of ​​research, and cryptocurrency is another great way to support this,” she said.

Web3 initiatives are useful, but not necessarily better

While the use of NFTs and crypto donations to support breast cancer is innovative, these initiatives are still just useful ways to bring attention to certain causes. For example, Bova pointed out that raising awareness and funding for breast cancer research in Metaverse is not necessarily better, but rather an additive resource for leveraging new donors and volunteers. Echoing this, Darden mentioned that incorporating NFT projects with KAB allows the organization to diversify its funding, but it has not proven to be a better solution compared to traditional fundraising mechanisms:

“Many NFT projects die out over time, so KAB takes a risk by being part of certain projects. However, NFTitties has a clear goal and beautiful art that resonates with the KAB community.”

Although there are a number of risks associated with NFT projects, non-fungible tokens remain appealing when it comes to increasing user engagement and interest.

“Susan G. Komen is happy to benefit from NFT projects that others are able to pull together. We are currently in conversation with an NFT project that aims to benefit our organization, Strong said.

Nevertheless, it is also important to point out that, in addition to risks, there are challenges associated with carrying out such projects.

According to Dochao Naveira, it can be difficult to target traditional NFT investors when it comes to women-led initiatives “There tends to be a bridging culture in the Web3 space that doesn’t care that much about certain projects. There may also be difficulties in helping regular users set up a MetaMask wallet,” she said.

But as time progresses, Web3 projects aim to incorporate new features to ease onboarding and educate new users. For example, Carmen Toal, CEO and co-founder of Sprkl NFT Studios – a platform that works with non-profit organizations and individuals to implement NFT technologies – told Cointelegraph that mainstream users usually need more guidance when it comes to participating in NFT projects .

As such, she mentioned that Sparkl NFT Studios incorporates familiarity with charitable NFT initiatives. “We sometimes include a ‘donate now’ button that is not directly linked to an NFT,” she said.

Most recently, Sprkl NFT Studios partnered with the National Breast Cancer Foundation, Inc. (NBCF) on an NFT artwork fundraiser for Breast Cancer Awareness Month. Candice Hensley, senior manager of strategic partnerships at NBCF, further told Cointelegraph that the partnership with Sprkl NFT Studios is part of the organization’s strategic plan to diversify its funds.

Sprkl NFT Studios commissioned artist Pola a Yim to create and draw an original flower bouquet for a digital NFT to support breast cancer awareness. Source: Sprkl NFT Studios