Competitors
Generally speaking, there are no competitors offering anything close to our product. However, like all markets there are some big players that have taken a good portion of the market
Last updated
Generally speaking, there are no competitors offering anything close to our product. However, like all markets there are some big players that have taken a good portion of the market
Last updated
The Charity donor industry does have some big platforms. Even so, they barely capture the annual amount donated. Most of the charity market is severely fragmented. Donations are mostly run on individual bases. Marketing is mostly none existent, or farmed out to expensive third parties. Projects are not known by most, other than people close to the charity.
Another big thing in the charity industry are big charities, such as Comic Relief, raising a lot of money and then distributing that money to smaller charities through grants and partnerships. This is very common and can lead to an initial 5% fee for raising, followed by up to 20% admin fee from the big charity to send to the smaller projects. Sometimes a $100 donation can be reduced down to $40 by the time it reaches the cause in need.
The point being, it is a big area which no-one has truly solved yet. Along with being led by no longer innovative companies that take big fees from the donations given.
Just Giving was the first to capture people's ambitious accomplishments to raise money for a charity of their choice. This is an important and interesting area of the Charity industry to target. However, it only raises money from people the person raising the money knows. Additionally, once donated too, the donor is never informed or kept up to date with how the project, or even how the charity is doing.
Despite most people believing these platforms are Non-Profits, let me in form you now, they are not! Just Giving is a , and they charge about 3-8% fees on any donations given. They have also been in the news numerous times for , including actually not officially informing people or charities of their fees for the first few years of operating.
Global Giving is a big platform serving charities since 2002. They are a generic donation platform allowing people to donate to pre-selected causes around the world. Their biggest impact is on emergency aid appeals.
They charge between a
These 2, despite being big names have only managed to process $5bn of donations in the last 20 years. This is because they do not even attempt to solve the problem seen in the Charity industry today.
is a Web3 startup that is looking to help fundraise Charities by selling NFTs. In this vision they have implemented as many Web3 tools as they could think of: DAOs (Artists to create art for the NFT, Influencers & Charities), staking, a P2E token on a useless app where you press a button once a day to collect points that go to planting trees, NFTs to sell, and more. They have in our view completely missed the point. And their business model is based on 2% of the sale of the NFTs and 2% royalties of reselling the NFTs. Which there is no reason for someone to buy one of these NFTs off another owner.
The Giving Block was the first platform to solely serve the goal of allowing Web3 users to donate to charities with cryptocurrencies. It has created the first step, but it is simply just to donate with crypto, with no other use cases. It has been acquired for . It has however, proven that donations using , helping this option in the sector grow.
Giving Block charges a .
