NFT Fixes Slacktivism
With Impact NFTs, supporting a cause can now be verified on the blockchain
On Jan 20, Twitter announced a new feature allowing its users to display their NFTs (Non Fungible Tokens) as profile pictures. NFT holders can connects their crypto wallets and choose an NFT they’ll like to display as profile picture. The NFT displays in a special hexagon shape that identifies the user as the owner of that NFT. Read the Twitter NFT profile picture announcement here.
Why Does NFT Profile Pictures Matter
Now this is a big deal for social causes and social impact organizations. The NFT profile pictures can usher a new era of real action and impact. It can help nurture and grow a culture of giving and doing in the online world (where most of us live these days).
Since the existence of Facebook, Twitter and other social media platforms people have been vocal about the issues they care about. They often change their profile pictures to showcase their support or use a hashtag, tweet, like social updates etc to show support for causes. However most times social media support is backed by empty actions. It’s a lazy attempt to show you care without actually doing anything about it. Termed as slacktivism, it’s been criticized for being superficial and ineffective.
How NFT Fixes Slacktivism
NFT stands for Non Fungible Tokens, a unique unit of data assigned to a digital object, recorded on a public ledger (blockchain) that certifies the uniqueness and ownership of the digital asset. Anything digital can be minted as an NFT on a blockchain and can be sold or given for free verifying that the NFT holder is the owner as the transaction gets recorded on the blockchain, viewable and verifiable publicly.
2021 has been the year of the NFTs, they really exploded in popularity. Though people have been busy collecting NFTs there wasn’t a real way for them to show-off the NFTs they own until recently when Twitter announced NFT profile pictures. And there is news that Meta too might soon allow people on Facebook and Instagram to display their NFTs.
Recently AMC gave out free NFTs to its investors that says “I own AMC” on a gold embossed medallion.
I can imagine similar NFT recognitions offered by nonprofits and DAOs to their volunteers, donors, members which they can then proudly display as their profile pictures. Their support to the cause now verifiable and recorded forever on the blockchain. I also imagine a time when these impact linked NFTs are further auctioned and sold thus making every successive buyer a contributor to the cause.
People who display these NFTs, their proof of giving can now be verified. No more faking or talking, people with impact NFTs are the ones that have supported a cause by taking action.
Social Impact organizations needs to seize this rapidly changing online world where NFTs matter and people’s desire to posses and display. This is a new way to identify and recognize supporters online. Instead of sending them a thank you note or a certificate, you can now give them an NFT badge that says “I donated” or “I volunteered” that they can show off online and their proof of support recorded forever on the blockchain.
Impact organizations who move first will have the advantage of getting the attention of the crypto world, the media and setting a new standard for the industry to follow.
Giving NFTs require donors/volunteers to have crypto wallets in order to receive NFTs. Even when these supporters are not into crypto the ability to leverage this new technology serves as a positive signal for the nonprofit.
I’m really excited to continue to write about “Impact NFTs” and to see which nonprofits are the first to adopt them. Feel free to reach out if your nonprofit is excited to explore these ideas further.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice.
