What if giving gave back? Using web3 to evolve philanthropy.
Web3 and, specifically, Ethereum have the potential to revolutionize the philanthropic space. We have the tools to open new funding streams and create economic abundance for everyone who is providing value to society.
Clean air, clear water, bridges, roads, free childcare, public education, taking care of the less fortunate — these are all examples of public goods that, when governments fail to provide them, we look to non-profits to create and care for. For funding, we have been relying on donors to give to these non-profits and receive nothing in return. Society has been depending on and?ultimately exploiting the altruists?who are working hard to protect and provide for our collective needs.
GIVbacks is a paradigm shift for the donation space. For the first time ever, there is an economic upside to donating.
GIVbacks is the first step towards a world in which everyone benefits from creating value:?when you give to verified projects, 100% of your donation goes directly to the project, and you get rewarded with?GIV?tokens from Giveth!
With over 900 verified projects on Giveth, donors can find projects that speak to their values and get rewarded for giving. Verified projects benefit from the extra traffic on Giveth & can use this program to attract new donors who are willing to support their initiatives.
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The Big Picture
Before we get into the fine details of exactly how the GIVbacks program works, let me walk you through the big picture that is the “why”.
Projects should feel good about raising funds for their project
Charity has traditionally created a dynamic where projects who do good work to benefit society have to beg for funds to make the world a better place. On the flip side, donors are being asked to sacrifice — to give without expecting anything in return.
GIVbacks is changing that. Donors have the opportunity to support projects they believe in and get rewarded with GIV in return.
But that's not all. GIVbacks gives governance power to the donors using Giveth, educates community members about web3 and much more. Read the full article by Lauren Luz to discover more.