What’s in here:
- How The Giving Block has grown our crypto donation volume 60% despite the bear market
- Details around our end-of-year campaign and how it works
- Info on our multi-million dollar matching pools for crypto giving
- How crypto companies, investors, and NFT artists can participate
The Largest Bag Season Ever
As the markets tumbled over the past year, crypto donation volume on our platform has quietly continued to rise, more than 60% from this time in 2021. This year, as crypto giving continues to grow in the face of fluctuating markets, our team at The Giving Block is intent upon seizing this opportunity to grow crypto adoption through the generosity of this community.
With over $100 million in crypto donations made on our platform, the impact is being felt globally. To add rocket fuel, we have assembled the largest coalition of pro-crypto nonprofits in history for our largest “Bag Season” campaign ever, providing millions of dollars to match the generosity of our donors, courtesy of leading payments company Shift4.
To get things started, we’ll begin with a $1M Crypto Flash Match which goes live today. Crypto users around the world can support the nonprofits they love and have that generosity doubled.
Why Bag Season is Going Big This Year
This time last year, there were hundreds of nonprofits fundraising crypto on The Giving Block. Today, we stand more than 2,000 nonprofits strong, with donations up more than 60% in the face of the market. We’ve received the largest donations in the history of our platform, and more donors are giving crypto than ever before, taking advantage of the tax incentives while making a difference.
This year we have more charities, more donors, more match dollars, more media partners, more giving integrations on crypto platforms, more crypto influencers raising money for our nonprofits, and more NFT artists auctioning off their creations to help us change the world.
What is Bag Season?
We created “Bag Season” in 2019 to bring the crypto community together during the end of year Giving Season. What started as a small campaign four years ago has grown into the epicenter of The Giving Block’s now massively influential Crypto Philanthropy movement, attracting participation from celebrities like Tony Hawk and Rainn Wilson as well as influential companies and organizations.
Bag Season kicks off with Crypto Giving Tuesday (November 29th), continuing to build through NFTuesday (December 6th) and onward to the end of the year. Bag Season is the biggest gathering of crypto donors each year, as they come to The Giving Block through crypto platform integrations, fundraisers, and partnerships. This year with 2,000 nonprofit voices taking to twitter to join our campaign, our clients will be more empowered than ever to meet crypto users where they are by utilizing our active fundraising strategies. As a result, we expect more crypto users than ever before will be inspired by nonprofits who control their own destinies.
In 2021, over 30% of donations on The Giving Block were donated during Bag Season, with $2.4 million donated on Giving Tuesday alone. We’ve raised over $100 million in donations and we expect to see another third of our annual donations come in during Bag Season, making it our biggest year yet.
To help meet these fundraising goals, we are heavily investing in promoting the campaign through our media partners including confirmed coverage in Morning Brew, Coindesk, and The Block. Keep reading to learn more about all of the exciting things we have planned for Bag Season including key dates, millions of match dollars, and new ways to donate – this is just the beginning!
Key Dates for Bag Season include…
Crypto Giving Tuesday
November 29, 2022: Kick off Bag Season with Crypto Giving Tuesday – the year’s biggest one-day celebration for crypto fundraising and giving. This will be the biggest Crypto Giving Tuesday to date with over 2,000 nonprofit organizations participating – which is double the number of charities we saw last year.
December 6, 2022: NFTuesday is The Giving Block’s one-day celebration of NFT philanthropy! For much of human history, art and social progress have gone hand-in-hand. The blockchain era is no exception: over the past year, the NFT community has donated millions of dollars in crypto to charitable organizations, and we’re excited to celebrate.
December 12-16, 2022: Join us as we celebrate a full week of Crypto Impact! We’ll showcase the real world impact that crypto donations have had, and how crypto has become the most powerful force for good on the planet.
December 23, 2022: This is the last chance for donors to whitelist nonprofit crypto wallets that they want to donate to. Wait any longer, and you might not have the address approved in time to meet the tax deadline.
Details on $1M Match
Here’s how our first $1M match will work (more matches coming soon!)…
The Giving Block will be launching a series of “flash matches” with over $3 million in match funds going to nonprofits to cover donation fees and multiply charitable impact. On October 26th, we’re launching our first $1M Crypto Flash Match offer, which will match any crypto donation made directly to a nonprofit organization on The Giving Block. We’ll continue matching donations until we’ve donated $1 million dollars to the organizations of your choice.
The $1 Million Crypto Flash Match will be first come first serve, so make sure you donate soon to double your impact. The match will also cap at $50,000 per nonprofit, so more nonprofits get to share the $1M pot.
This particular match pool is only for donations made directly to nonprofits through The Giving Block, therefore our Impact Index Funds, Crypto Adoption Fund, and other funds are excluded.
For more information about the $1M Flash Match, check out the FAQ below.
How to Participate
Here’s how nonprofits, donors and partners can join the campaign…
If your nonprofit isn’t already on The Giving Block, click here to connect with our team to learn more!
Donate: To give directly to the causes you love, click here and support your favorite charity with crypto (stocks and cards coming soon!). Just provide an email and you’ll receive a receipt to reconcile with the tax man.
Fundraise: If you’re an influencer, or just have a lot of friends, there are a ton of nonprofits who would love your help fundraising! Contact us here to learn more about running your own Bag Season fundraiser. Our team will do everything we can to help you organize it.
Create NFTs: If you’re an NFT platform or creator, we’d love to help you drop some NFTs for good. Contact us here to learn more about how we can partner creators with amazing nonprofits to drop NFTs for good.
For Partners (Corporate, Media & Other)
Spread the Word
Each year, we’re fortunate to work with hundreds of amazing organizations who step up to help us build an amazing Bag Season. If you’re interested in helping us spread the word (through articles, podcasts, social media or other channels), contact us here to learn more about how you can help.
Activate Your Audience
If you’re an influencer, company, reddit mod, etc., directly asking your audience to support pro-crypto nonprofits this Bag Season can be a huge help. Contact us here to learn more about the best times to do so.
DIY Corporate Philanthropy
If you’ve got an idea for doing your own crypto fundraising day to inspire the generosity of your team and/or users, we’ve got a team here at The Giving Block that helps organize these for free. The companies that make these happen can sometimes be the biggest crypto supporters of our nonprofits each year. Contact us here so we can help you do something awesome!
Are you a client of The Giving Block? Remember to use these tools to maximize your participation in Bag Season 2022 (contact us if you’ve lost track of any)…
The Giving Block has spent the last four years making crypto fundraising easy for nonprofits. If you’re a client, make sure you’re leveraging these key resources between now and year-end to build a robust crypto revenue channel:
- 2022 BagSeason Toolkit: This year, you’ve received the most turn-key End-of-Year Fundraising Toolkit ever. Create your key posts using the templates, and follow the best practices.
- Group Strategy Sessions: Join the group strategy sessions to make your life easier. Why reinvent the wheel when we can learn from the most successful programs across the sector?
- Weekly Charge Email: Make sure you and key members of your team are reading your Weekly Charge. This email gives you the 3 simple steps you can take each week to keep your team fully plugged into Q4 crypto philanthropy.
- Check out other resources on our Client Knowledge Base, and stay in touch with your Client Success Manager at The Giving Block!
Crypto Flash Match FAQs
Terms and Conditions – Crypto Flash Match Terms
The following terms will govern the $1 Million Crypto Flash Match:
How does the $1 Million Crypto Flash Match Work?
Each cryptocurrency donation made via The Giving Block (“TGB”) platform during the Campaign Period directly to an Eligible Non-profit will be matched by Jared Isaacman (individually or through a foundation set up for the purposes of making such donations) (“Foundation”) up to $1,000,000 (collectively, the “$1 Million Crypto Flash Match” or “Match”).
The matching of donations will be made on a first come first served basis up to $1,000,000 and will be distributed to each Eligible Non-profit in the amount equal to the donations made during the Campaign Period. Only donations made by an individual donor directly to an Eligible Non-profit will be considered (excluding donations made to and distributions from our Impact Index Funds and the Crypto Adoption Fund, and any other matches provided by TGB, Shift4 or affiliated parties).
Is there a limit to the Match for each Eligible Non-profit?
Each Eligible Non-profit will be eligible to receive up to a maximum of $50,000 during the Campaign Period, to allow a wider range of non-profits to benefit from the Match.
Which nonprofits are eligible to receive the Match?
“Eligible Non-profit” means any non-profit TGB subscription customer that is:
- enrolled on the TGB platform during the Campaign Period;
- in good standing (i.e., no past-due subscription fees); and
- either an international non-profit, or a US-based 501(c)(3) public charity or private operating foundation (specifically, excluding private non-operating foundations and 501(c)(4)s due to Renaissance Charitable DAF payout policies).
Donors can find a list of charities on The Giving Block located here.
How long does the Match last?
During the “Campaign Period”, which is from October 26, 2022 through the earlier of the date when the $1 million is used up or December 31, 2022.
When will the Eligible Non-profits get their funds from the $1 Million Crypto Flash Match?
The Match will be paid out to all Eligible Non-profits after the end of the Campaign Period. This will likely mean the Match will not be distributed to Eligible Non-profits until early 2023.
How will the Match donations be made to each Eligible Non-Profit?
The Foundation will contribute to the Renaissance Charitable Foundation Donor-Advised Fund (“DAF”) which will distribute the proceeds as set forth above.
Will the Match be in cryptocurrency or fiat?
The Match will be made in fiat by the Foundation and will be converted into a cryptocurrency stablecoin by the DAF in order to be donated to the Eligible Non-profits.
Will pricing fluctuations in market prices after the original donation impact the value of the Match?
No. The value of the Match contribution will be based upon the USD value of the cryptocurrency at the time of the donation. For example, if a donation of 1 ETH is worth $2,500 at the time of donation and $2,000 at the time the match is paid out, then the Foundation will donate $2,500 in order to fulfill its obligations under the match.
Will other stock, credit card, or other non-crypto donations be eligible for the Match?
No. Only donations of cryptocurrency will be eligible for this Match.
Will the Eligible Non-profits be charged any fees for my donations?
Yes. TGB, through its third-party cryptocurrency exchange, charges standard processing fees on all donations.
What if I (as a donor) want a refund from my donation?
All donations are final and will not be eligible for a refund.
Who can I contact if I have additional questions?
For any inquiries or questions please contact [email protected].
When will I receive a tax receipt for my donation?
As with any donation on the TGB platform, if you provide your email address during the donation process we will send you a tax receipt immediately following your donation on behalf of the charity.
Will the match be considered part of my individual donation?
No. You will only receive credit for the donation made by you.
Will my identity be provided to the charity that I am donating to?
Only if you choose to enter that information. Most nonprofits accept anonymous donations.