Charity startup Change raises $5M to enhance Web3 donations

Technology charity startup Change has reportedly raised around $5 million in a seed funding round led by Freestyle and NEA.
Technology charity startup Change has reportedly raised around $5 million in a seed funding round led by Freestyle and NEA.

Technology charity startup Change has reportedly raised around $5 million in a seed funding round. According to several reports, popular venture capital companies, Freestyle and NEA led the funding round.

Change is planning to use the funds to expand its team of developers with the aim of enhancing its donating operations to innovative Blockchain projects and startups on Web3.

Sonia Nigam, the co-founder and CEO of Change, claims that the advantages of blockchain lie in its transparency and accountability. Nigam thinks that by advancing the charity on-chain, creators’ impacts will be openly validated. The charity platform often offers transparent cryptocurrency payments for well-known blockchain technologies, such as Solana and Ethereum.

Amar Shah, the president and co-founder of the charity platform, argued that every transaction serves as a public expression of each buyer’s impression. Shah continues by saying that this development necessitates a strong connection between companies and innovators and their local communities. According to reports, more than 80% of companies have noticed this trend and are now working with non-profit organizations to strengthen their ability to improve their respective communities.

Change offers direct donation opportunities

Change is notable for giving artists a platform to include direct donations in their individual web3 protocols. Findings show that doing so enables them to establish and maintain a powerful community.

Recently, the charity platform and Metaplex worked together to make it easier for creators to tie their NFT purchases to a purpose. The platform uses a non-profit wallet powered by the NFT smart contract to digitize donations across all platforms.

Teresa Duran, Chief Information Officer at Make-A-Wish America, highlighted the opportunities connected with Change and hinted that Change’s network enables them to launch their web3-oriented strategy. Duran adds that this kind of innovation gives his team the chance to start a new donor pool.

Crypto has always been active in charity work, be it COVID relief funds or Ukraine’s help during the Russian attack.