Investing with purpose: How Metagood is combining purpose with innovation
How do you combine purpose with innovation? Metagood is a company showing us how it’s done! The brilliant start-up has created multiple NFT collections that are catalysing social change and creating new ways for projects to secure funding and amplify their positive impact. The team’s purpose is to create value for their community and make charitable giving more sustainable, scalable, and transparent through the sale of NFTs – and this is what really excites me about the company.
In the US, a record $471 billion was donated to charities in 2020 (according to Giving USA), however the sector has seen very little technological innovation. Metagood is shaking up the world of fundraising - by harnessing their combined entrepreneurial skills and creative, innovative thinking, they are breathing new life into the way we give and that’s why I decided to invest in the company.
Although they launched just over one year ago, Metagood’s work has already led to some incredible real world impact, thanks to the proceeds generated from the sale of their Onchain Monkey NFTs. To further democratise the fundraising process, 50% of the profits from the sales of these NFTs are held within a DAO, or “Decentralised Autonomous Organisation,” whcih is a community-led entity. The Onchain Monkey NFT holders can then propose and vote on the causes and projects they want to support with the funds.
Here are just a few examples of incredible initiatives that Metagood has supported:
Closing the digital divide with UNICEF: Metagood advised and supported the launch of UNICEF Giga Connect’s first NFT collection called Patchwork Kingdoms. The collection has already raised over $700,000 to help provide internet access to schools all around the world.
Evacuating Sharbat Gula from Afghanistan: In an incredible endeavour, Metagood co-funded the evacuation of Sharbat Gula and her family to safety during the Taliban offensive in 2021. Sharbat is the woman l behind the striking 1985 National Geographic cover known as “Afghan Girl.” The family are now living safely in Italy and it’s amazing to think that this innovative form of digital fundraising played a critical role in that.
Coral restoration with Coral Vita: Metagood donated an NFT to support the coral conservatory work being done by Coral Vita. This incredible project is growing resilient corals up to 50 times faster than in their natural environment to help restore dying reefs.
Supporting Ukraine through OCM Earth: A new NFT collection created by Metagood in response to the devastating war in Ukraine with a 100% of the proceeds from the sale of this collection going to Save the Children’s Ukraine Crisis Relief Fund, which is providing children and families with immediate aid, such as food, water, hygiene kits, psychosocial support, and cash assistance. Incredible.
To learn more about the company’s journey, I reached out to Metagood’s COO, Amanda Terry. Here’s more…
As Amanda mentioned, in 2021 Metagood launched a collection of NFTs called OCM Genesis. When people purchase an NFT in the collection, the profits are donated to a range of important causes. To further democratise the fundraising process, the profits from the NFT sales are entered into a centralised pot known as a DAO (Decentralised Autonomous Organisation). Through the DAO, the OCM (OnChainMonkey) community can vote on the causes they want to support.
Like any forward-thinking company, the team at Metagood are constantly evolving and staying 10 steps ahead. In fact, Metagood was recently recognised as a 2022 Fast Company World Changing Idea in the impact investing category. Its latest collection has just been minted, and I’m really excited to see the positive impact that comes from it.
It really is amazing to see the tangible benefits coming out of digital spaces. Metagood is combining purpose with innovation, and I’m very excited for what the team has in store next!