Big cryptocurrency donations make for great news headlines, but crypto charitable giving extends far beyond individual acts of extreme generosity. Case in point: Ultragreen Week, an initiative designed to inspire climate action among crypto/blockchain users.
What is Ultragreen Week?
Ultragreen Week launched on Earth Day 2023 by Celo, a carbon-negative blockchain ecosystem, with the help of its broader community and partners.
It’s one of the latest examples of companies reinventing social responsibility by tapping into the crypto philanthropy movement.
To kick off these five days of activity, Celo invited its community to participate in a unique on-chain fundraiser. Participants could mint a free POAP (that’s short for “Proof of Attendance Protocol”) to help fund climate action.
For each POAP minted, the Celo Foundation donated one Celo Dollar (cUSD) to The Giving Block’s Regenerative Finance (or “ReFi”) Index, which included the One Tree Planted, Rainforest Foundation, Hope for Haiti, Mercy Corps, and more. In total, the Celo community raised $10,000 worth of crypto (cUSD) to support these organizations.
Throughout the rest of the week, community activations included:
- A panel conversation on blockchain and climate solutions
- A tutorial in purchasing carbon credits to offset blockchain activity
- A hackathon for developers focused on building green blockchain tools
For more information on Ultragreen Week’s schedule of events and the vision behind the campaign, visit Celo’s blog.
Key Learnings From a Crypto Fundraiser’s POV
If you’re a nonprofit fundraiser or work for a crypto/blockchain company, you might be wondering how to replicate Celo’s success.
The following elements likely helped Celo foster an active turnout for Ultragreen Week:
- Ethos. Many consider Celo as “the home of ReFi,” and it has been known to deliver innovative approaches to climate action.
- Communication. With an active social media presence on Twitter and Discord, people don’t have to wonder what’s new with Celo.
- Relevance. Celo invited their community to participate in blockchain-related events, such as minting a POAP and joining a hackathon.
- Activation. Campaigns that succeed in involving large groups of people make the right “ask.” In this case, asking people to take small actions (like minting a POAP that would trigger a donation) made a big difference when added up.
- Timing. Centering the campaign around Earth Day timely and encourages participation, especially among people who might not focus on environmental issues regularly.
- Transparency. The Celo team made clear which organizations would be supported, and how the donations would be calculated. By working with The Giving Block, they ensured that their donation would be secure and received by the intended wallet addresses.
Celo’s approach to climate action is an effective way to inspire crypto users to support a good cause, but it’s far from the only method. Nonprofits have received crypto donations from NFT charity auctions and even holiday benefit concerts, to name a few notable examples. They’ve even launched crypto funds.
Getting Started with Crypto Fundraising
The Giving Block helps thousands of nonprofits accept and fundraise crypto and other non-cash assets, like stocks and donor-advised fund (DAF) grants. Explore our fundraising solution to discover the untapped opportunities that await your organization.