What is NFT Fundraising?

In the most basic sense, a non-fungible token is a way to store data on a blockchain such as Ethereum. Unlike a fungible asset like a US dollar, one NFT cannot be swapped interchangeably for another NFT. That’s because each token functions as a way to validate unique ownership of something, such as a single work of digital art. [...] As the nonprofit sector gets more crypto-savvy, NFT fundraising has transformed into a source of donation revenue that’s now impossible to ignore. NFT-related charitable giving is now a sustainable option for thousands of charities seeking to grow their mission and further their impact with cryptocurrency donations. This article will help you understand the basics about NFTs and charitable giving, including: [...] That’s because NFTs are listed, bought and sold on marketplaces that are equipped to handle cryptocurrency transactions. (Remember that NFTs are “non-fungible tokens,” which were created to be compatible with the Ethereum blockchain.) When an NFT is sold, the creator receives a royalty in the form of a cryptocurrency such as Etherum or Solana. If a nonprofit already accepts crypto donations, an NFT creator can directly donate the proceeds from their sale.