Please describe your proposed solution.
It is crucial to empower projects and digital blockchain products to accelerate the growth and popularity of Cardano. All cNFT projects offer perpetual resources for non-profit causes and royalties associated with the creators of cNFTs. This is done by connecting external financial donors with cNFTs and projects. Donors are encouraged to preview cNFT opportunities listed within our sponsoring cNFT marketplaces (NMKR)
NFT Rescue Foundation works with donatable goods of all types, Digital or Real. NFTs, including Digital Music, Art, Films, Real Estate, and other real property assets as classified by the IRS. NFT Rescue Foundation also accepts what is known as Rug Pulls or disabled NFT projects from those who invested and lost. This will help mitigate NFT losses. This type of non-profit donation is known as a Real Property contribution, which, regardless of popularity or market value, those owning such can recover their initial acquisition costs in the form of a 100% tax credit against taxed economic gains. Donated NFTs are then offered to buyers outside the ecosystem to acquire for their artistic value and philanthropic representation for the causes we manage, thus benefiting all NFT investors who have purchased NFTs. NFT Rescue’s model generates tax credit opportunities for donors and perpetual resources for causes.
All the requested Fund 10 funding will go towards developing and managing NFT Rescue’s automation application on the Cardano ecosystem. We aim for a life-changing experience for everyone we interact with. We can all agree that the increasing need for causes in distress, combined with the Cardano artists and projects, can benefit everyone. Bringing real-world impact to our community members and causes worldwide with a life-changing experience for many struggling within the ecosystem.
We need to break out of this "Cardano Echo Chamber" or the “Ouroboros Dilemma” facing our ecosystem and cease profiting only from each other within the ecosystem, bringing more like-minded people, projects, dApps, and most importantly, OUTSIDE FUNDING and influence into the ecosystem.
There is power in the community. Let's give the mic to the thousand voices with a single mission to grow Cardano and solve real-world problems while achieving real-world impact. The Cardano community has already proven to show up in force. Let's represent and support the Cardano ecosystem, dApps, and projects together.
“Let's get this done. Thank you NFTRescue, for being part of this community and the rest of the space; we are all open for business. Let's get it done." - Charles Hoskinson.
Proof of Concept Achieved:
NFT Rescue first created and conceptualized its process and flow and then beta-tested it in early 2021. This cNFT raised $5,500.00 for a children’s hospital:
- SaL_Art_CNFT is appropriately named Sal Art 180.
- The cause received its funding, the donor received a 100% Tax Credit, and Sal received the royalties.
And this is not the end of this exciting journey. The cNFT is back in the Cardano marketplace to do it all again. NFT Rescue’s model drives perpetual utility with any NFT on any blockchain. We are paving the way for cross-chain interactions whether or not the NFT represents a purpose or a cause. NFT Rescue reaches countless lives that depend on NFT Rescue’s support by bringing the ultimate utility for everyone.
Wildlife Conservation and Restoration Example
When a donor attends NFT Rescue’s IRL or online fundraising galas and then donates $1,000.00 in fiat to save the whales, the vetted cause representing such receives its first donation. On the tax-deductible receipt given to the donor with (verified credentials) for the $1,000.00 donated, the donor is invited to a sponsored cNFT marketplace with a code or by clicking a link in their confirmation email. This code allows the donor to access listings of cNFTs listed on an associated Cardano marketplace. (cNFTs displayed may or may not represent the original cause.) At checkout, donors can use their code and receive a cNFT from the marketplace, which can then be donated to NFT Rescue for an additional Real Property tax credit.
Donors purchase the above-selected cNFTs from an associated Cardano marketplace (NMKR) by using their invite code and Cardano wallet to receive them, thus quickly onboarding new individuals and commerce into the Cardano ecosystem. Artists or projects receive their first royalty. At any time after, the donor can donate the cNFTs to NFT Rescue as an actual property donation adding to their year-end taxable credits. When NFT Rescue receives the donated cNFTs, the donor gets a tax-deductible certificate (and a verified credential) of donation for the real property. NFT Rescue places the cNFTs for resale on a marketplace for the respected value of the original contributed amount received regardless of the present floor value.
At the time of sale, the real property now has a verifiable, recorded value that the originating donor receives a real property tax-deductible credit in a verifiable credential. Artists or projects receive their second royalty, as the floor value is now set based on this sale, and the cause gets its second contribution. The donated cNFTs are again listed on the marketplace for new donors to acquire, and the cycle is reset.
CNFTs become the real property vehicle that cycles through NFT Rescue’s project by onboarding new individuals and injecting outside financial commerce into the Cardano ecosystem, creating perpetual resources for causes and perpetuating royalties for Cardano artists, projects, and the entire Cardano ecosystem.
The process is straightforward:
The causes, the donors, the community, the artists, and the marketplaces will all benefit from this donation model designed to attract outside contributions, funding, and resources for causes and the communities they support, propelling the entire Cardano ecosystem.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
NFT Rescue has created and minted a business model that utilizes NFTs as a perpetual resource for causes. We can now integrate this model into Cardano, make it accessible, and invite the general public. As we onboard affluent individuals and corporations seeking taxation credits into our system, we can perpetually support our causes and provide the “Proof of Donation Gold Standard” with real-time tracking and testimonial transparency delivered as NFTs to every donor.
Snapbrillia’s Cardano and the Decentralized Identity development team have been chosen for assistance in integrating our model into Cardano due to their proven work with open-source and proprietary verified credentials and their donation/funding smart contracts.
As a philanthropic disruptor using blockchain technology, we offer real-time tracking of all resources forwarded to the end recipients and beneficiaries with 100% real-time transparency. As a non-profit, venture capital or angel investors are not an option. Donations, grants, and onboarding directors for causes are always welcomed. What makes our philanthropy different is our Gold Standard. This gives our donors real-world "Proof of Donation" and life-changing results of their contribution with real-time tracking for transparency.
Besides the standard monetary donations, our business model also receives NFT Real Property contributions that result in perpetual resources for causes they support as they are sold or transferred through a Cardano marketplace to outside fiat donors. Donors can benefit from real-time taxation credits with irrefutable results and value when donating the acquired cNFTs.
The NFT Rescue Foundation business model offers a unique philanthropic membership for all donors. We provide access to support various social impact organizations with a single annual contribution, including scheduling, digital wallet management, and diversification management, designed to give the donors secure and transparent distributions of their contributed funds at their discretion.
Why is this product or integration suitable for execution right now?
Regardless of the current market, we focus on building something that brings more funding into Cardano. We are here to build with the community and bring external value into our ecosystem by clearly and directly addressing the dApps products and integrations challenge.
Cardano needs a thriving ecosystem of valuable Dapps, products, and integrations for the community that are better alternatives to centralized providers. Our non-profit organization is dedicated to maximizing the efficiency and cost-effectiveness of every resource. With NFT Rescue's model, even cNFT holders who have experienced rug pull situations can recover their losses through tax credits.
NFT Rescue Foundation is a registered 501c3, tax id # 32-0681095, a verified Paypal charity, and part of the Paypal giving fund. These manual processes can already be done via our website (bit.ly/nftrescue). Hence, the pieces and infrastructure, applications, and other integrations are available to automate this process and scale it to the masses.
What needs to be introduced or improved for the proposal to fully reach its potential?
We have chosen to partner with and hire Snapbrillia’s participation for NFT Rescue’s Development because of their demonstrated work on open-source donation smart contracts that's been deployed on the Cardano mainnet, their innovative Cardano wallet, and their continued contributions to the decentralized identity ecosystem. Hiring within Cardano is our utmost priority. By bringing together the development resources, we aim to support our philanthropic initiatives and facilitate our continued growth within the ecosystem. Our community is aware of the huge benefit NFT Rescue will bring to Cardano.
Testimonials:
NFT Rescue Foundation has carried out many projects that improve the lives of people and communities. These projects include fundraising for veterans and supporting educational orphanages around the globe. We believe that all lives matter.
One of our initiatives is finding freshwater wells for communities that do not have access to clean running water. This helps improve their living conditions and overall well-being.
In addition to the annual adoption of the last two remaining northern white rhinos, we provide care and support to these rhinos through our partnership with the Helping Rhinos and OI Pejeta Conservancy in Kenya, Africa.
Our youth for the arts program aims to support rising talents by teaching them how to master their craft and educating them how to monetize their works through cNFTs.
Our collaboration with West African communities and existing Cardano like Project SIMBA (Social Impact through Media Business Alliances) has allowed us to establish programs for indigenous communities to self-sustain, uniting their talents of Art, Music, and Video production with NFT monetization and philanthropy.
Furthermore, we actively engage IRL with homeless communities by visiting the streets every week. We listen to their stories and engage in conversations to understand their needs and support their sustainable development goals. (SDGs).
We also work closely with Love This Horse Rescue in Mojave, CA, to support rescuing Arabian horses by rehoming abandoned, round-up and other lives destined for slaughter and sold to the meat trades.
Link to our webpage with more testimonials:
<https://nftrescue.org/what-we-do/>
How do you intend to measure the success of your project?
The impact of project development is clear:
- Objective KPIs to measure its success.
- The project has been separated into stages to make it feasible.
- We use ClickUp for project management to track and measure this project's progress
We measure progress monthly based on the following:
- Proposal Progress vs. Deliverable Deadline
- % of Completed Tasks
- Date of Beta Release & Launch
- Date of Official Public Launch
KPIs:
- Number of donors on the platform
- Number of wallets connected
- Volume of donations processed
- Volume of tax credits generated
- A sense of community and conversations. Having people around to talk with.
Please describe your plans to share the outputs and results of your project?
Transparency and community involvement:
- We host an NFT Rescue Demo & Progress After Town Halls at least once every two to three months to let the community get involved and provide feedback on our progress until the proposal closes.
- We join almost every Catalyst Town Hall where the community can get involved and provide feedback on our progress until the proposal closes.
- We work closely with other partner teams to provide updates to the community.
You may also see us working and hustling on Twitter: https://twitter.com/NFTrescue