Seeing a lot of alignment among the Web 3 ethos, nonprofits and social justice, Givepact wants to become a bridge between nonprofits and the crypto world.
"We want the DAO (decentralized autonomous organization) to be a training grounds for the nonprofit industry to learn how Web 3 works, how governance of a DAO works, how buying [non-fungible tokens] works, how buying and staking Ethereum works," Givepact co-founder Steven Aguiar said, "so they can take those skills back to their nonprofits and figure out how to implement a Web 3 strategy for their own organization internally."
Givepact is a free crypto fundraising platform for nonprofits that funds a community DAO for social impact.
This article is part of Road to Consensus.
"We are building a marketplace that allows nonprofits to accept crypto. We will convert the crypto into cash to make it very easy for our clients to benefit," Givepact co-founder Alicia Cepeda Maule told CoinDesk.
Givepact, a finalist in the Web 3 Pitch Fest, a hackathon hosted by Extreme Tech Challenge at CoinDesk’s Consensus Festival, is also building its own Wiki, "the nonprofit knowledge hub for all things Web 3." The Wiki includes nonprofit case studies, nonprofit Web 3 tools, wallet management, NFTs and other crypto-related information.
Fully 80% of the transaction fees charged for processing will go to the private for-profit entity, while the following 20% of revenue will go towards a nonprofit entity, a DAO controlled by the donors and the nonprofits partners.
See also: How Web 3 Changes Philanthropy
"We want to get those say in a situation like Ukraine. We want to get those nonprofits on our platform. So we can cultivate crypto donors to them directly. But then we also want to rally our community to say where can we sort of put our treasury to work to support that cause as well," Aguiar said.
More than just fundraising tech, Givepact aims to become a Web 3 technology company and a Web 3 incubator for nonprofit tech in the future.
"We're creating the next generation of nonprofit fundraisers who understand how to further their mission through crypto donors and community." Maule said. "We're facilitating a network that we say is creating the layer of social good in the metaverse economy."
UPDATE 13:36: This post was corrected.
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