Web3 is unlocking a new set of tools that enable artists to build compounding online support around shared values. “We raised $30,000 in minutes,” said CowgirlDAO founder Molly Dickson of her inaugural NFT drop Computer Cowgirls. That kind of immediacy, said Dickson, would not have been possible “if I was just shilling prints to my friends and family to raise money.” If you’re a creator interested in raising funds for social causes through an NFT project, here are some tips from those who’ve successfully raised money with their art. Getting started According to those who have navigated NFT fundraising efforts, the first step to a successful launch is coming up with your concept. Current events, social justice issues and personal connections may serve as inspiration for your collection. “My focus is always on using art as a tool for storytelling – especially BIPOC stories – about women's rights and girls' education,” said Maliha Abidi, artist and founder of WomenRise NFTs. “That's what I will continue to do no matter what space I enter.” Industry experts add that it’s important to consider practical questions too, such as whether you want your collection to be PFP-focused like WomenRise, one-of-one artwork or an entirely unique execution. For example, each NFT in the Computer Cowgirls collection was assembled by Dickson individually rather than by using a computer algorithm. Launching the project After the artwork is created, generating buzz in your community is key to raising awareness. While marketing tactics are important, both Dickson and Abidi were able to tap their existing followers’ goodwill without hiring a public relations firm for the initial drop. Instead, they released their projects on the popular NFT platform OpenSea and spread the word via Twitter, Instagram and other social media platforms. It is often a good idea to inspire your followers with a mission-driven narrative before inviting collaboration around a “road map” – a popular term within the Web3 space for building a long-term strategic plan. New branches of activism can be created from newly-formed relationships. For instance, Dickson’s community of buyers evolved into CowgirlDAO, which now works together to vote on profit allocation and establish necessary legal payment rails for donating crypto. This organic development helped propel CowgirlDAO forward as a fundraising community, eventually with more formal structures. Attracting donors Some charitable NFT projects offer special perks for holders referred to as utility, which can come in the form of private Discord channels, live events and virtual meetups for community members. NFT holders may find satisfaction in knowing they are making a positive impact. Community meetups, whether virtual or in person, can also be a meaningful way to connect supporters around a shared mission. Owning a coveted piece of art can also be a motivating factor for seasoned collectors, particularly if a project has embedded rarity traits into the collection. From Megan DeMatteo article, https://www.coindesk.com/web3/2022/11/01/how-artists-can-raise-money-for-social-causes-with-nfts/
