How A London Startup Is Using Algorand To Revolutionise Fundraising.

GiftChain
7 min readNov 12, 2021

A Web3 platform for #DecentralisedDonating complete with collectible NFT incentives.

Fundraising in the modern world is changing as we speak. Cash will soon be extinct. CBDCs could be the new norm and conventional fundraising techniques will be something of the past. Charities need to adapt to the modern world if they want any chance of tackling the most pressing of social and environmental challenges we are faced with today.

asalp has the solution. The London based start-up is providing a decentralised platform for charities to accept donations through cryptocurrency. But not just any crypto. asalp has built their Web3 platform on Algorand, a revolutionary carbon neutral blockchain, to be the protocol for pioneering their new asset class: Charity NFTs ( C-NFTs).

Opening up the abbreviation one will find: Algorand Standard Asset Launch Pad whose sole objective is to revolutionise fundraising, create utility for C-NFTs and be the bridge between charity, art and blockchain.

#DecentralisedDonating

Decentralised donating benefits every party involved in the transaction. The donor has a use case for their crypto and can apply their holdings to aid real world challenges; in this way it provides an interesting insight into how digital assets can be a force for good in the physical world. Whilst alternatively, the charity saves money due to the negligible transaction fees on the Algorand network. A charity would actually be left with more money if their payments are processed on blockchain than with a standard fiat payment processor like Visa, Mastercard or Amex. This extrapolated across a larger scale, the extra few percent to a charities fundraising income would have a monumental effect on combating social and environmental issues.

Imagine what 3% year on year extra could mean for combating threats like climate change, animal rights or chronic diseases?

#CharityNFTs

Unfortunately donating in crypto is not enough. Donors need incentives beyond standard practises of fluffy toys and sponsored third world animal animals. asalp’s new asset class combats exactly this, with Charity NFTs. These are generative Non Fungible Tokens awarded to the donor after a donation made to a charity, on the platform. A charity provides an input, typically a high quality image reflecting their charity’s campaign or mission and asalp’s in-house Algorithm will create a generative piece of art from it. These are minted at the time of donation and use smart contracts along with machine learning AI to tailor the intricacy of the design to the donation amount- incentivising larger donations. asalp has worked with various artists to provide extra overlays and custom patterns to really make every single NFT unique to the donor.

Charity NFTs can ultimately be viewed as personal, tradable donation certificates that can be paraded online to show a donor’s commitment to the social cause they supported. The result of this is one can see how asalp’s platform creates a social scene around donating by incentivising donors with collectible Charity NFTs whilst also raising awareness for social issues. Algorand was the only blockchain this could be built on as their negligible fees makes the minting of high volumes of Charity NFTs both financially feasible and sustainable for the environment.

Got a Charity NFT, what now?

Utility and use cases for C-NFTs is the one of the sole focus’ of the team at asalp. By the end of the year, donors with a Charity NFT will be able to resell their asset on asalp’s NFT Marketplace. In the event of a resale on the platform compensates the charity to whom the C-NFT was minted from, a 3% royalty. This is possible due to Algorand’s smart contracts providing various escrow features to compensate the correct wallets after a transaction is approved.

Due to the intricacy of the art being linked to the donation amount, the initial crypto spent to mint the NFT should be the benchmark for any future re-sells. This demonstrates that C-NFTs could play a key part of the modern investment portfolio as they hold their value, yield a return and are earned through charitable giving — all the hall marks of an winning green investment.

With the value of green bonds set to hit half a trillion dollars this year — one can only imagine what role asalps’ C-NFT could play in the future of green finance and its potential addressable market. This not only gets retail interest but business’ can now justify NFT purchases whilst also supporting the environment. These are NFTs for ESGs.

Upon closer inspection one can see how a charity being listed on asalp provides them with two passive income streams from not only having their campaigns on the platform but also from C-NFTs royalties. It is clear that early adopters of the asalp platform will be well positioned for fundraising the modern world.

Renting and utility

As mentioned early, asalp’s priority is use cases for Charity NFTs, as this adds to the growing list of reasons for donors to contribute to charities on the platform. Subsequently this results in giving them various options around how they want to use their C-NFTs. The London startup is anticipating the logical extensions of NFTs, in their current form, to be the ability to rent, lend and borrow them. Non-Fungible-Tokens are currently famously synonymous with Art NFTs (CryptoPunks), however this is only the beginning in eclipsing the potential of what NFTs can offer and the role they will play in the future.

Creating Charity NFTs to be a yielding asset makes the appeal in acquiring one all the more obvious as not only are you helping a charitable cause but you can be compensated for it in the long run.

Now, alternatively one may ask: why would I not just donate and get my own C-NFT?

By all means do that ! But asalp’s generative algorithm can produce, by random, some truly stunning and beautiful works of generative art. These can be interpreted as an appreciation of digital art, a testament to blockchain and an acknowledgment of the power of AI. Leading them to be as collectible, if not more, than Art NFTs. In this way, due to the randomness, we will see some truly incredible works that have serious appeal from galleries and collectors who wish to purchase or rent them and in doing so spread awareness about social causes.

Renting Use Case: NFT EXHIBITIONS

In person NFT Exhibitions will be the next big thing chiefly because galleries can now lower their carbon footprint from reducing their transportation costs by pushing digital art collections to the public. But how can they possibly run a commercial operation without compensating the owners or creators who own the sort-after NFTs they wish to show?

Through asalp a gallery could temporarily lease the NFT off the artist through the platform and return it at the end of the tenure. This shows to the public that not only are they seeing the real artwork on display but the correct parties have been compensated [with digital media rights respected]. This demonstrates how smart contracts can potentially be used as a legal framework within the NFT space.

The Future

The asalp team are also considering various future expansions that includes providing a platform for not only allowing Charity NFTs to be rented but any ASA token on the Algorand Network. For example an NFT of fractal equity-ownership in a piece of real estate could be leased, a title deed on a rental property or even a lease on the commercial rights to a film. Algorand Standard Asset Launch Pad is keeping up to its name and providing the Ecosystem with multiple options for users assets.

$asalp token coin

Moreover, one can expect $ASALP tokens to be released in the near future tying in with the introduction of DeFi games onto the platform. asalp is looking to launch various swapping mechanisms for C-NFTs, slot machines with $ASALP bonus’ and further staking pools with rewards in the native token. Providing options for C-NFTs, the new donating asset class, is a key promise the team at asalp is committing to. This is chiefly because they feel this will encourage full participation from the public, create a community and incentivise crypto-contributions which result in increased funding towards tackling the most pressing environmental and social challenges we face today.

After reading this, one can only urge charities to get signed up to asalp’s platform and upload their campaigns at once. It’s free.

Launching phase one of their project, the Charity NFT, before the end of year — asalp is truly a force of good in the confusing world of negative connotations around the blockchain space and thus it will prove to be a powerful D’App on the Algorand Ecosystem.

For any further questions feel free to contact asalp at info@asalp.io

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GiftChain

decentralised donation platform for charities and start ups to accept crypto through a carbon neutral blockchain, Algorand.