Learn about “NFTs For A Cause” here:
May 9, 2022 - Continuing to redefine the way the world thinks about giving back, today fan-powered fundraising platform Fandiem introduces “NFTs For A Cause,” the first and only NFT platform built to reward charitable donations. Fans that donate will be able to win and collect NFTs from Fandiem’s network of A-list talent and partners and unlock access to exclusive rewards and privileges. Through the use of blockchain technology, partner foundations can earn royalties with each NFT drop as well as each time one of these NFTs is resold on the secondary market, allowing their partners to receive funds in perpetuity via a pre-set royalty rate.
“With web3, philanthropic fundraising has the opportunity to evolve alongside new technology and inspire people to give back in more ways,” Fandiem co-founder Alex Machurov states. “It’s important for us to create ongoing positive impact for our partners and we see NFTs as a revolutionary way to do good. The technology allows us to raise even more funds for nonprofits through both the initial primary drop as well as through secondary transactions via a baked-in royalty. This lengthens the lifespan of donations and provides innovative revenue streams.”
The first NFT to arrive on the new platform is the limited edition Fans With Benefits Pass. Anyone who has participated in a Fandiem fundraising campaign prior to May 10, 2022 is eligible to claim one free Fans With Benefits Pass. Holders of this NFT are automatically entered in a sweepstake to win the Fandiem “Choose Your Own Music Adventure” Grand Prize, which will award one winner and a guest an all-expense-paid trip in 2023 to a music destination, festival or concert of the winner’s choice worldwide.
Fandiem will soon collaborate with musicians, artists, athletes, and creators – as well as with nonprofits – to produce unique NFTs ranging from simple digital collectibles to high-demand utility-based items. Some of the NFTs will unlock exclusive offline experiences such as ‘Golden Tickets’ to events, flyaway trips to major global festivals, or royalty rights in songs. These NFTs will be available only on Fandiem.com and offered as Sweeps, Auctions, or ‘Buy Now’. Later this year, Fandiem will launch its secondary marketplace, where NFTs can be bought and resold.
Fandiem’s new NFT ecosystem is powered by the ICON (ICX) blockchain, keeping transaction costs low and providing an energy-efficient minting process. With Fandiem’s experience in the nonprofit sector, and ICON’s base-layer technology, NFT framework, and a growing market for NFTs, this partnership will help bring to life their mutual vision of building the go-to curated NFT fundraising platform. All of the NFTs will be available by credit cards and USD.
“NFTs For A Cause” is the latest initiative from a core team of music festival veterans who co-founded Fandiem in 2020 as a way to offer support throughout the pandemic. With backgrounds in producing memorable events for fans and artists alike, Fandiem’s leadership is able to translate that passion for the once-in-a-lifetime experiences into campaigns that also benefit charity. The forward-thinking organization has partnered with hundreds of artists, including Metallica, Pearl Jam, Phish, Nine Inch Nails, Major Lazer, Eric Church, Slayyyter, Dead & Company, Imagine Dragons and Kesha to raise over $2 million in direct donations from 80,000+ fans. The funds have supported 40+ nonprofits including St. Jude Children’s Hospital, HeadCount, The Preservation Hall Foundation, Equal Justice Initiative, National Independent Venue Association (NIVA), REVERB, and Sweet Relief Musicians Fund. Most recently, Fandiem announced a partnership with deadmau5, tied to his upcoming “We Are Friends Tour,” in support of The American Society for the Prevention of Cruelty to Animals (ASPCA). deadmau5 fans can Donate To Win the ‘Friends in Miami: The Ultimate deadmau5 Basel Adventure’ prize, which includes an all-expense-paid trip to Miami Beach, passes to his concert, and a private jet skiing adventure with deadmau5.