The Giving Block Releases 2021 Annual Report; Finds Tremendous Increases in Crypto Giving
The Giving Block, the leading crypto philanthropy platform for nonprofit organizations and individual donors, released its annual report for 2021. As awareness, usage, and monetization of cryptocurrencies continue to grow, crypto philanthropy has emerged as an important and sustainable source of fundraising for charities, giving people greater opportunities to donate for good.
For the more than 295 million crypto users worldwide, donating via cryptocurrency has become the preferred method for supporting mission-driven organizations. The Giving Block’s report highlights some interesting ways crypto donors are differentiating themselves, along with insights into donation trends. Some notable findings related to The Giving Block’s nonprofits and donors in 2021 include:
- The average crypto donation was approximately $10,455, as opposed to the average cash donation of $128 – an 82x greater value per transaction
- The total annual volume of crypto donations via The Giving Block grew by 1,558 percent
- The number of nonprofits accepting crypto donations on The Giving Block grew by 900 percent
- As a crypto fundraising tool, the NFT may be the single more significant development from the year, with more than $12.3M in donations made from known NFT projects
- $69,644,534 in crypto donations were made via The Giving Block
- Ether (ETH) was the dominant cryptocurrency used for donations (42%), followed by Bitcoin (BTC) (36%), and USD Coin (UDSC) (7%).
“As an emerging source of fundraising, individuals from all corners of the crypto community—from anonymous donors to industry leaders to NFT artists—have shown an eagerness to embrace their capacity as supporters of important causes, from animal rights and disaster relief to mental health awareness and cancer research,” said Pat Duffy, co-founder of The Giving Block. “We are thrilled to have made increased access to capital available for hundreds of worthy causes and provided the opportunity for a growing number of crypto users to donate to the charities that interest them.”
The Giving Block is dedicated to unlocking the full philanthropic impact of crypto by empowering nonprofit organizations to securely and compliantly accept cryptocurrency donations and enabling individuals to easily give crypto to their favorite charities worldwide. The Giving Block supports donations in Bitcoin, Ethereum, and over 70 popular cryptocurrencies, and actively partners with leading crypto companies, NFT projects, and traditional institutions to bring their charitable initiatives to life. The Giving Block has helped worthy charities within diverse sectors, including Education (University of Arizona Foundation), Civil & Human Rights (She’s the First), Environment (Trees for the Future), Disasters & Conflict (CARE USA), and Animals (Orangutan Outreach), to name a few.
The Giving Block’s full 2021 Annual Report is available here. To donate, please visit https://thegivingblock.com/donate/ and browse through more than 1,000 nonprofit organizations and cause funds supported by The Giving Block. For more resources on cryptocurrency and taxes, please visit https://thegivingblock.com/resources/.
The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of NonProfit PRO.