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Studies show that Crypto owners are more generous than other investors when they donate to charity. This is because no one can guess because of the strong feelings of the community or the tax benefits of doing so, but sensible charities have tried to take advantage of the trend. That’s why the decision to move APIs to donate to companies and charities decided to move into the asset class.
A.D. Founded by Sonia Nigam and Amar Shah in 2020, the two Northwest alumni met during their first college years, and the change began as a platform to facilitate the process of building an online giving experience for any group. They use Change’s APIs online to build their technology and build their mission through charitable campaigns as well as non-profit organizations.
A.D. As they step up their pre-race cycle, which closes in November 2020, the couple began to see how the Web 3 community is doing in nature. . The co-founders began to expand their reach to allow their customers to receive crypto donations instead of building a simple API for online fiat currency donations.
Although Change’s technology is now superior to fiat transactions, it has raised $ 5 million to move to Crypto, according to the co-founders. Freestyle and NEA led the round, with angel investors from Shrug Capital as well as Solana, Alchemy and Dapper Labs contributing to the pre-race round.
Sonia Nigam and Amar Shah, co-founders of Donation API Startup Change. Image thanks Change
In addition to the founders, Change has another full-time employee today and plans to double the group size to six by the end of the year, according to Nigam.
Change is now welcomed to China by more than 200,000 accredited charities, including Mac-A-Wish America and New York, even though Nigam and Shah’s startup did not disclose how many customers are working or how much money is being poured into its APIs. .
In addition to the Crypto community’s charitable relationship, Nigam and Shah believe that crypto donations will continue to grow because they will be publicly verified through blockchain, which will always provide a level of transparency that does not guarantee donors. They were also in high demand from DA3s, decentralized financial applications, and other Web 3 companies that wanted to build charitable capabilities.
We focus on stopping and enabling and deploying all our tracking and management tools for traditional products. [them] To the crypto site, ”said Nigam.
Getting Started The Solana blockchain has focused on the crypto world in partnership with Metapplex, the main protocol for creating NFTs. In exchange, any NFT creator using Metaplex could use their ability to allocate a portion of the proceeds to a specific charity, using their ability to decide how to allocate royalties each time NFT is sold, Nigam said.
Change will work with a consulting team as well as reviewing their official statements from forums such as GuideStar, Niig said, adding that the company has reduced the list to more than 1.5 million nonprofits in the United States. 200,000 supports its own platform today.
Change can simplify the donation process by transferring donations to beneficiaries’ donations to our Change Foundation. The Foundation acts as an independent entity on behalf of 200,000 partner charities through donations through the Change API.
The donor-recommended fund makes it easier for charities and charities to find their crypto instead of collaborating with those charities alone. According to Nigam, they handle wallet addresses and those donations by hand. He said non-profits can choose to accept crypto donations directly or choose to convert those donations to fiat.
“Everything is easy for us. We do not want people to copy and paste very long addresses. [With Change,] You can search for the charity of your choice and say yes, I’m sure, I’ll give you 1%. [of the royalties] And just go ahead and make sure everyone is on the chain, ”Nigam said.
Although change plans to focus on building crypto capabilities in the near future, Niigam said the startup does not plan to move away from fiat soon. Regardless of the economic situation, change sees itself as a sustainable solution for companies to build customer loyalty through charity.
“Our goal is to become currency-agnostic over time. We want to generate every donation dollar online in five years,” Shah added.
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