Maxity is a blockchain application dedicated to contributing to the United Nations 17 Sustainable Development Goals
There are 260,000 charities and NGOs worldwide, all devoted to creating a just society. Maxity helps charities and NGOs achieve these aims. The specific aims of charities may vary, according to the nature of work each charity does, but all charities necessarily have certain aims in common:
- Charities and NGOs need to raise funds, so that they can carry out their activities;
- They also need to manage their funds carefully, including producing reports of how the funds are acquired and used;
- They need to plan their charitable activities, and communicate with their donors. This can include getting donor feedback and financial pledges on proposed activities;
- They need to manage and incentivise volunteers, encouraging participation in charitable activities.
Maxity uses Web3 and blockchain technology to help charities and NGOs achieve these aims. Maxity is developing several platforms aimed at charities and NGOs.
The Maxity NFT marketplace is the first dedicated NFT marketplace for charities and NGOs to raise funds. It is being built on the eco-friendly Polygon Chain and will be integrated on to the Ethereum Chain after the merge in November 2022. The marketplace allows organisations with charitable aims to design, develop, market and sell NFTs which represent the work of the charity. Owners of NFTs can resell their NFTs to other collectors, and a percentage determined by the charity of the sale value goes to the charity upon each resale.
- The Maxity NFT marketplace allows charities and NGOs to showcase their work, through thoughtful and beautiful artworks presented as NFTs. Supporters of a charity or an NGO buy and sell these NFTs, or receive them as gifts.
- Buying and selling NFTs helps to build donor communities. By trading with each other, donors can get to know each other and discuss the work of the charity. By talking with their friends about the NFT collections, donors can introduce new people to the work of the charity.
- Instead of minting one NFT at a time, Maxity enables charities and NGOs to bulk list NFTs to avoid lengthy and expensive processes of single minting. This is especially useful for minting for example NFT collectibles, event tickets and DAO entry tickets.
- A fun way to sell NFTs is through auctions. An auction starts with the seller setting the opening bid for the NFTs and the NFTs will be sold to the higher bidder. If the auction price falls below the opening price, the seller reserves the right to reject the transaction.
- Determined to lower the barrier of the blockchain world, Maxity has integrated fiat payment systems in which donors who do not hold a cryptocurrency wallet can purchase NFTs through their preferred methods (Debit/Credit Card or PayPal). The NFTs will be held by Maxity and can be claimed at any time, once users have installed a crypto wallet.
- Maxity’s platform helps charities and NGOs raise their profile and raises public awareness. Donors of one charity can discover NFTs from other charities, and become acquainted with their work.
The Maxity transparency platform allows charities and NGOs to register their core activities on the blockchain — this can include the construction of buildings and other resources, or grants made to beneficiaries. Blockchain transactions can link incoming donations with outgoing payments for projects. By registering all activities such as fundraising, fund management, expenditure, financial reports, and charitable activities on the blockchain, charities can achieve greater financial transparency, and build greater trust in their donor communities. This not only gives donors the confidence to give more, it attracts new users into the world of philanthropy.
The Maxity DeFi platform will allow charities on the Maxity platform and their donors to manage and invest funds. By staking cryptocurrencies (including ETH, Matic, stable coins or Maxity’s MAX token), charities and donors can earn higher interest compared to traditional financial institutions or instruments, by availing themselves to Maxity’s yield-farming techniques.
The Maxity symbiotic metaverse will allow all charities, NGOs and social enterprises to further accelerate the goal of a sustainable environment and society in a virtual world. Beneficial proposals such as charitable Dao establishment, public welfare campaigns, fundraising activities, volunteer events, sharing exhibitions, allowing all to participate in social practices, living symbiotically in the metaverse.
DAOs, decentralised autonomous organisations, are decentralised entities developed through Web3 and blockchain technologies. No single party controls any aspect of these technologies. Rather, they are designed with democracy at their core.
Maxity has adopted these principles at the core of its design too. Firstly, the MAX token allows anyone to participate in Maxity’s governance and its success. Ownership of the MAX token confers voting rights, and as Maxity becomes successful the value of the token will rise.
Maxity has recruited 40 ambassadors globally; they are individuals integrated in the not-for-profit sector of their region, who are familiar with fundraising for charities at the grassroots level. Maxity ambassadors assist charities and NGOs in the registration and verification process required to join the Maxity platform. The ambassador helps the charity draft the stories behind their NFT collections.
Maxity has also set up a few decentralised autonomous organisations (DAOs) to control the core aspects of its operations, namely Charity DAO, Artists DAO and influencer DAO, working in tandem to give all the charities on the Maxity platform visibility. These are described in detail in this white paper. As the Maxity platform develops, it is expected that more DAOs will be created.