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 to give cryptocurrency and maximize the impact of their gift by letting its value 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 its 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 gains will be used to finance cutting-edge technology, business, and programmatic solutions to support efforts in breaking the cycle of child abuse.
“Accepting cryptocurrency gifts is instrumental in funding our efforts to introduce new technology to the child wellbeing space, but it’s only the beginning,“ said Ryan Park, VP of Innovation at Upbring.
In addition to accepting crypto donations, UIL is weaving itself into the fabric of Web3 to create sustainable sources of funding.
A recent study conducted by Vantage Market Research, released on July 1st, 2022, states that “The Global Web 3.0 Blockchain Market revenue is expected to reach a value USD 23.3 Billion in the year 2028.”
“Our active participation in the Web3 community is equally as important in creating sustainable funding for innovation. We are engaging with mining companies, protocols, and even NFT artists to build a portfolio of social impact partnerships. Partnerships like these are new in the child welfare space—creating both philanthropic and earned revenue streams to sustain innovation with the potential to transform communities suffering from abuse,” said Park.
Erica Reiling of CryptoVenus, a female-focused Web3 brand, has committed to match the first 4ETH (~$6500) gifted during the first week of the fund’s launch. Erick Calderon, Founder of ArtBlocks, further ‘upped the ante’ in calling on other Web3 and crypto leaders to donate and has committed to personally match an additional ~15ETH ($25,000) of donations before Thanksgiving. All in all, the first $31,500 of new gifts that are donated to the fund could be doubled—effectively increasing the impact of all donations two-fold.
"We wholeheartedly believe in Upbring’s mission and its ability to leverage new technologies to empower girls, children and communities who are historically underserved. We hope others in our Web3 community join us in supporting the UIL’s valiant efforts by donating to their endowment fund," said Reiling.
To donate to the Crypto Endowment Fund for Better Childhoods go to https://upbring.org/give-crypto/. Web3 companies interested in partnering with Upbring’s Innovation Labs can contact Kelsey Driscoll, Sr. Innovation & Partnerships Manager at Kelsey.Driscoll@upbring.org
About Upbring Innovation Labs:
As one of the largest nonprofit child wellbeing organizations in the United States, Upbring operates across multiple service lines 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 unites the brightest minds to surface solutions. Through partnerships with entrepreneurs, business leaders, Web3 companies and universities, the Lab is turning ideas into real outcomes creating a future free from the damages of abuse.
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