Austin, Texas, Sept. 21, 2022 (GLOBE NEWSWIRE) — Upbring Innovation Labs (UIL), a division of Upbring, today announced the launch of its Crypto Endowment Fund for Better Childhoods—a first-of-its-kind fund that enables donors too give cryptocurrency and maximize the impact of your gift by allowing its value to grow with the market. The Crypto Endowment Fund for Better Childhoods serves as Upbring Innovation Lab’s investment portfolio, powered by cryptocurrency and managed by the partners at The Giving Block – a leader in crypto philanthropy.
When donors give cryptocurrency, 100% of those funds are used to execute the fund’s holding strategy. Over time, the fund’s winnings will be used to fund cutting-edge technology, business and programmatic solutions to support efforts to break the cycle of child abuse.
“Accepting cryptocurrency gifts helps fund our efforts to introduce new technology to child welfare, but it’s just the beginning,” said Ryan Park, VP of Innovation at Upbring.
In addition to accepting crypto donations, UIL weaves itself into the Web3 fabric to create sustainable sources of funding.
A recent study by Vantage Market Research, released on July 1St2022, states that “The revenue from the Global Web 3.0 Blockchain Market is expected to reach a value of USD 23.3 billion in the year 2028.
“Our active participation in the Web3 community is equally important to creating sustainable funding for innovation. We work with mining companies, protocols and even NFT artists to build a portfolio of partnerships with social impact. Partnerships like these are new in child welfare – creating both philanthropic and earned revenue streams to sustain innovation with the potential to transform communities suffering from abuse, says Park.
Erica Reiling of CryptoVenus, a women-focused Web3 brand, has committed to match the first 4ETH (~$6500) given during the first week of the fund’s launch. Erick Calderon, founder of ArtBlocks, “upped the ante” further by encouraging other Web3 and crypto leaders to donate and has committed to personally match an additional ~15ETH ($25,000) in donations before Thanksgiving. In all, the first $31,500 of new gifts donated to the fund can be doubled – effectively doubling the impact of all donations.
“We wholeheartedly believe in Upbring’s mission and its ability to leverage new technologies to empower historically underserved girls, children, and communities. We hope others in our Web3 community will join us in supporting UIL’s valiant efforts by donating to their endowment fund,” Reiling said.
To donate to the Crypto Endowment Fund for Better Childhoods, go to https://upbring.org/give-crypto/. Web3 companies interested in partnering with Upbrings Innovation Labs can contact Kelsey Driscoll, Sr. Innovation & Partnerships Manager at [email protected]
About Upbring Innovation Labs:
As one of the largest non-profit child welfare organizations in the United States, Upbring operates across multiple lines of service to advance its mission to break the generational cycle of child abuse through a leading portfolio of innovative programs, products and services.
Upbring Innovation Labs is a division of Upbring that uses human-centered design to identify industry challenges and unite the brightest minds to find solutions. Through partnerships with entrepreneurs, business leaders, Web3 companies and universities, the lab turns ideas into real results and creates a future free of the harms of abuse.
- Upbring Innovation Labs is creating the very first crypto fund for child welfare innovation
