On 6-8 July, ETH Barcelona brought together blockchain enthusiasts, developers, core “ethereans” and founders. However, there was a noticeable absence of shiller** as market conditions drove out the moonboys* and influencers. The slogan “What happens in Barcelona stays in the blockchain” reflected the nerdiness of the event, whose focus was on building.
Instead of the frothiness*** that characterises many crypto conferences, there was an egalitarian ethos: It was an exploration of how blockchain can help “build a sustainable world full of human potential”. How exactly does this amorphous vision play out in practice? And can a technology invented to solve the problem of double spending really improve the everyday lives of the planet’s citizens?
Answering these questions requires a closer look at the crypto projects represented at the conference that fall under the ESG bracket: Environmental, Social and Corporate Governance. As we gathered in Barcelona, I met representatives from several of these projects. Here is what I learnt from them.
The Giving Block (TGB)
One of the projects I had the pleasure of meeting at ETH Barcelona was Giving Block (TGB). They believe that crypto can change the world for the better. TGB makes it easy for organisations to accept crypto donations and for individuals to donate with crypto. The project is particularly passionate about NFT fundraising and has written an entire report on the topic.
I was particularly impressed that Giving Block is behaving in a way that is in line with what it says it does: Jared Isaacman, CEO of parent company Shift4, is matching donations up to $10 million to take care of the crypto campaign. Thanks to the efforts of projects like Giving Block, NFT philanthropy is really flourishing, funnelling more funds to social issues and getting more individuals and organisations involved in crypto.
The Future of Giving
Most of the initiatives that have recently emerged from the crypto sector with an awareness of social problems are NFT-oriented. There are obvious reasons for this synergy: NFTs are highly visual and therefore provide an effective medium for communicating environmental messages. This mechanism also lends itself to collaboration with artists and creatives who share similar values. DoinGud, one of ETH Barcelona’s launch partners, has perhaps done more than any other NFT project to realise this goal.
In the project’s manifesto, they explained that they “believe that art has always been an incredible tool to effect change and that they can make an even stronger impact in the world by using blockchain technology to create transparency.” DoinGud intends to promote the positive social impact that social projects achieve through the NFT platform, where content creators can register as eligible organisations to which they can donate a portion of their revenue. DoinGud has partnered with more than 200 social good-focused blockchain projects, each aligned with the UN’s Sustainable Development Goals.
In the run-up to ETH Barcelona, DoinGud ran an “NFT scavenger hunt” game that gave participants the opportunity to “collect NFTs to create a better world”. The project does more than just pay lip service to social causes: It is actively recruiting new users into crypto while showcasing the transformative power of NFTs.
As ETH Barcelona approaches, DoinGud has realised an “NFT scavenger hunt” game that gives participants the opportunity to “collect NFTs to create a better world”. The project does more than just pay lip service to social causes: It is actively recruiting new users into crypto while showcasing the transformative power of NFTs.
Another socially-aware project represented at ETH Barcelona was Giveth. The event sponsor aims to “centralise philanthropy” by rewarding donors who contribute to projects “for good”. The platform enables cryptocurrency holders to donate to a range of charity projects, including those focused on Ukraine, sustainable food and local community support. Giveth essentially runs a kind of charitable Kickstarter, allowing anyone to create a project and start raising money. Donors of verified projects are rewarded with “GIVbacks”.
Like DoinGud, Giveth does more to engage everyday users in crypto than most traditional projects, while showcasing the industry as a force for global good. As described in its mission statement, Giveth “focuses on building a culture of giving that empowers and rewards those who give to projects, society and the world. It aims to inspire the community to participate in an ecosystem of collective support, abundance, and value creation.
The Next Wave of Socially Conscious Projects
Signifty is a new NFT project that takes the socially conscious part and works with it. What’s interesting about its approach is the way it involves celebrities and uses their stardust to achieve results. The idea is simple: celebrities and influencers create NFTs that anyone can buy, and the proceeds go to social movements of the creator’s choosing. Each of the stars represented on Signifty’s platform chooses a “mission”, i.e. a charity or fundraiser.
One of the great things about the concept is the way Signifty gamifies the whole process: While the celebrity who created the NFT collection is on a “Hero” mission, buyers are given legendary NFTs for helping to complete Global Missions alongside the Hero. For example, a depleted NFT drop will result in mission completion. A neat way to match donations with results and show that the funds raised go directly to the relevant cause.
If the calibre of projects represented at ETH Barcelona is anything to go by, the future of crypto giving is in good hands. Platforms like Giveth, The Giving Block and Signifty show that it is possible to make a positive social impact while still having fun. In doing so, they expand the utility of crypto and showcase it as a force for good.
Notes
*Moonboys: Addresses the over-enthusiasm, unrealistic beliefs and prejudices of professional investors who believe that the value of an investment will rise in price like a space rocket launched ‘to the moon’. You can visit the link for detailed information: https://eksisozluk.com/entry/130785812
**A Shiller is a person or organisation that promotes another coin or token in the community of a particular crypto market.
***It is Wall Street‘s way of indicating that the price of a particular asset is on its way to becoming unsustainably high. Market froth signals the beginning of asset price inflation that the market will likely be unable to support in the future.