Signifty believes that NFTs can impact social good with the help of the great and the good

Until now, speculation and status have been the primary use cases for non-fungible tokens. But one startup believes it has found an untapped application for NFTs that treats them as more than speculative tokens. Signifty emphasizes that there is a place for NFTs within the philanthropic sector, where they can be used to raise money for charitable causes ranging from environmental projects to humanitarian initiatives.

To realize this vision, Signift needs the help of the great and the good: celebrities, whose sprinkling of stardust will transform the humble NFT into a vehicle for positive change.

Art meets heart

Concept Significance is pinning its platform like this. Celebrities have philanthropic causes that are close to their hearts. NFTs have the ability to form passionate communities around shared interests. Signifty seeks to channel the power of fans into a powerful force for social change through the use of ‘missions’. These are Celebrate-fronted campaigns endorsed by the project’s Good Deeds Center, which builds an NFT collection around the concept, which means sending money to charity.

For example, imagine Popstar X wants to save the Javan rhinoceros, an endangered species in Ujung Kulon National Park. Custom content from stars in the form of audio, video, art, signatures, letters or personal items is digitized by Signify, turned into an NFT collection and then made available to the public. The mission will detail the fundraising goals, what can be achieved with the proceeds, and how the NFT Drop will proceed.

Rules for participation will also be formulated; The event may be whitelisting, and may take the form of an auction or a fixed price sale. If all goes according to plan, the funding goal is reached, fans receive a piece of Popstar X in the form of exclusive NFTs, and Ujung Kulon National Park receives funds to conserve Javan rhinos. Everything is tracked on-chain, ensuring complete transparency and everyone benefits.

The beauty of the system is that participants can be involved for very different reasons, be it altruistic, speculative or a mild obsession with Popstar X, but all parties will emerge with something to show for their efforts, and endangered rhinos will live to see another day.

The future of fundraising is social

While Signifty’s implementation of NFTs as a philanthropic tool is novel, they are by no means the only startup to have stumbled upon the idea. Where there’s art there’s The Arts, whose creatives are known for their charitable work, often auctioning off their work or raising funds to benefit it. Using digital arts for social betterment is only the logical progression of this movement.

From raising funds for Ukraine to supporting environmental projects, NFTs have been used to channel funds to all kinds of worthy causes. Last year, legendary NFT artist Beeple auctioned off his Ocean Front NFT, raising $6 million for the Open Earth Foundation, while Edward Snowden did the same for $5.4 million for the Freedom of the Press Foundation.

Such ventures are singular efforts, however, that primarily serve to raise funds from already wealthy individuals Signifty aims to democratize the process by providing incentives for ordinary investors to participate, allowing everyone to claim a piece of the pie, giving them something to do for a cause they (or their favorite celebrity) believe in, and a special NFT as a gift. Earnings or tradable items.

NFTs have come a long way since the trading days of Pepe the Frog coins and pixel art. What began as a non-fungible token standard has transformed into an antidote to global progress, one cause at a time.

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