3 Ways Layer 2 NFTs Help Non-Profit Fundraising
Non-fungible tokens on Ethereum Layer 2 networks like Loopring provide a verifiable channel of fundraising for all types of organizations, especially non-profits. Here are three way NFTs can help non-profit campaigns:
NFT Collections for Fundraising Campaigns
Pairing a fundraising drive or marketing campaign with an NFT collection is a good way establish an additional income stream besides cash donations. For example, a drive to raise funds to save a historic building could have an NFT collection consisting of old photos that tell the story supporting the cause.
ERC-1155 NFTs as Digital Decals and Stickers
People love showing off their support of causes they feel passionately about. From car decals to laptop stickers, we as humans really enjoy broadcasting our love of non-profits visually. Now, thanks to the transparent nature of the blockchain, a person’s digital wallet acts as a public billboard of things people support. NFTs can now be a digital version of the physical decal that people can carry with them.
The ERC-1155 standard for NFTs allows minting thousands of NFTs. A non-profit can now mint thousands of decals and make them available for a low price instead of minting high-priced individual tokens. This makes it easier for people to get involved and support causes of their choice.
NFTs as Membership Management
We are familiar with fundraising drives that have donation levels like “Silver”, “Gold”, and “Platinum”. With NFTs, these membership levels can be managed easily based on ownership alone. The organization can issue benefits to holders of these tokens such as life-time membership, invitation-only events, and more.