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The Giving Block, one of the largest platforms for crypto-friendly NGOs, has joined forces with the Munch protocol’s automatic contributions mechanism.
Munch, an emerging decentralised finance (DeFi) initiative that allows investors to donate a percentage of their earnings to charity organisations, has formally collaborated with The Giving Block, a move that might provide a huge boost to the fast burgeoning crypto contributions business.
The new arrangement unites The Giving Block’s expanding community of crypto-ready NGOs with the Munch network, which enables people to quickly give to causes that are important to them. The collaboration will also allow new NGOs to directly collect Munch contributions and develop a profile on The Giving Block’s fundraising platform.
Munch collected nearly $1 million for underdeveloped nations represented by the GiveWell Maximum Impact Fund, which is committed to eradicating malaria and other illnesses in Africa, as reported in early May. Munch has already collected approximately $3 million in less than two months, according to Alex Wilson, co-founder of The Giving Block. “Not only will this support incredible causes and have a significant impact, but it will also continue to introduce a new audience to cryptocurrency,” he added.
Munch CEO Rodrigo Silva also remarked on the new collaboration:
“This partnership gives us the reach to offer our community more causes they care about. With our future development, this is set to do a tremendous amount of good for a lot of people.”
Crypto-focused charities are becoming increasingly popular, as proven by the over $2 million in donations for Endaoment, a new charity organisation that aspires to be a decentralised autonomous organisation (DAO).
The Giving Block, on the other hand, has increased its efforts in the crypto donations market, assisting NGOs such as the American Cancer Society and others in taking Bitcoin (BTC), Ether (ETH), and other digital assets. The Giving Block established the Crypto Giving Pledge in April in order to inspire more cryptocurrency investors to give to organisations.