NFTs for a Cause Coming Soon!
Welcome to Fandiem’s NFTs for a Cause, where we will take Crowdfanding into the future.
NFTs EXPLAINED:
Almost overnight, NFTs have gotten really big, really fast. Once a favorite of crypto enthusiasts and cult collectors, NFTs have burst onto the mainstream. You’ve probably heard of them but let’s start at the beginning.
What are NFTs? We'll give you the definition straight from NFTs for Dummies. A non-fungible (meaning unique, non-replaceable) token (NFT) is a unique digital code that represents some kind of digital item. It could be digital art or music, for example. An NFT is secured and stored on a public blockchain. One token is not interchangeable for another, and a token cannot be further divided.
Wait, what does that mean, you may ask? In layman's terms, an NFT is a digital file that has authenticated ownership. For example, imagine if the Mona Lisa were digital art and sold as an NFT. The buyer is verified as the owner and cannot be disputed. Additionally, NFTs can be resold by the owner to one buyer or can even be sold in slices as a fractional NFT, meaning that multiple people can own percentages of the Mona Lisa, with it all being authenticated on the blockchain.
What are the biggest value propositions of NFTs?
- NFTs Provide an immutable record of ownership for digital assets, verified by the global Blockchain
- NFTs can be designed to assign a portion of royalties from each sale to the original creator
FANDIEM’S NFTs FOR A CAUSE:
While much of the world’s attention has been on the valuation of NFTs, our focus is on the massive potential it can bring to the nonprofit sector. We believe that philanthropic fundraising must evolve along with the opportunities technology provides it. There is real-world potential for NFTs to raise funds for nonprofits. Not only does this revolutionary technology allow us to raise on the initial sale (primary) but now allows us to raise in perpetuity because of the baked-in royalty where each secondary transaction results in more donations back to the nonprofit.
Through NFTs, Fandiem will have the ability to fundraise for our nonprofit partners on an ongoing basis. That’s why we like to call Fandiem’s NFTs for a Cause: The gift that keeps on giving.
Our mission is to serve as the go-to curated NFT fundraising platform to help raise money for our incredible partner foundations.
HOW IT WORKS:
- Like we do with our other fundraising campaigns, Fandiem will collaborate with musicians, artists, athletes, and creators – as well as with nonprofits – to produce unique NFTs exclusively available on Fandiem. These NFTs may simply be digital collectibles or they may unlock real-world experiences.
- Fandiem will mint the NFTs on the ICON (ICX) blockchain.
- Each NFT drop will be unique and will be available on Fandiem.com as Sweeps, Auctions, or as a ‘Buy Now’.
- In order to receive an NFT, fans will connect their Bridge Wallet to their Fandiem profile. To sign up all you need to do is input your email.
- Voilà, you're now able to collect, purchase, and display Fandiem NFTs on your profile and will soon be able to re-sell your NFTs on our secondary market - all while giving back!
ABOUT OUR NFT PARTNER, ICON:
We realize that the barrier to entry with NFTs is pretty difficult for a non-native crypto user. Gas fees are expensive and NFTs minted on most blockchains are not environmentally friendly. For us, these were two main drawbacks of NFTs that we wanted to address and with our partnership with ICON were able to do just that.
With Fandiem NFTs minted through ICON, transaction costs are minimal and ICON keeps energy to mint significantly less than most of the popular blockchains as it’s proof of stake and not proof of work.
Furthermore, we want to make the NFT experience as seamless as possible which is why Fandiem NFTs will be available to be purchased in USD.
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 our mutual vision of building and promoting a marketplace and NFT issuance platform comparable to NBA Top Shot for charity!
ROADMAP*:
- Fandiem Fans With Benefits Pass NFT Drop
- Fans With Benefit Pass is released and early access to claim is given to previous Fandiem customers that have previously participated in any campaign up until May, 10th 2022 as well as create and connect their Bridge Wallet to their profile.
- NFT Donation Stub Collectible Drop
- For select drops, NFTs will be airdropped for donations of $50 and above.
- Partner NFT Drops
- Partner NFT drops will begin with NFTs offered as a mix of digital collectibles, NFTs tied to experiences/prizes, and more such as royalty rights in songs. These NFTs will be offered as sweeps, auction, or buy now on the primary and relisted as either auction or buy now on secondary by the NFT owner.
- Secondary Marketplace Launch
- NFT owners will gain the ability to resell any of their NFTs directly on Fandiem to other customers.
- Redeemable NFTs tied to experiences/prizes can be resold on the secondary marketplace but give up the opportunity to redeem experiences/prizes.
*Note that the roadmap might alter a bit but everything we tweak in our launches is for the benefit of our talent and nonprofit partners and NFT owner community.
To give you a better sense of what some of our Partner NFT Drops might look like, links to some that caught our eye recently are below 👀
We couldn't be more excited to drop this news! We look forward to making a recurring positive impact on the nonprofits that you and our partners care so much about.
Questions? Contact us at nft@fandiem.com.
