MEDIA RELEASE
Tuesday, 30th November 2021
FOR IMMEDIATE RELEASE
SUBJECT: Australian headquartered Social enterprise Little Phil (short for little Philanthropist) is launching a world-first initiative that will aim to popularise the accessibility of Non-Fungible Tokens (NFT’s). The goal is to assist NFT creators in allocating a portion of the money raised to charitable causes. Currently, artists, celebrities, and sports stars might be creating one-off NFT’s for a specific cause. This initiative will see it become more democratised while also allowing charities to access cryptocurrency exchanges at scale to access new fundraising streams. This month, the first project with Korean music star DJ Soda raised an estimated AUD$350,000 in less than two weeks.
HEADLINE: Social enterprise Little Phil launches world-first NFT fundraising initiative
Queensland headquartered social enterprise digital platform Little Phil is launching a ground-breaking initiative to assist global charities in utilising Non Fungible Tokens (NFT’s) for fundraising initiatives.
An NFT is a digital asset representing real-world objects like art, music, in-game items, and videos bought and sold online mainly using cryptocurrency and mostly encoded with the same underlying software as many cryptos. In what is believed to be a global first, Little Phil is working with charities, multiple visual artists, music stars, sporting codes, and other celebrities, to launch specific NFT’s aligned with particular causes or organisations and then allocate some of the funds raised for social impact causes.
Little Phil’s first project launched this month saw it partner with Korean music-star DJ Soda, along with NFT digital trading platform Xillion to deliver to the market a digital art piece valued at AUD$2.8 million with 12.5 per cent (an estimated AUD$350,000) of this total to be allocated to charitable causes.
For Little Phil Co-founder and CEO, Josh Murchie this first successful foray into the NFT space for the firm marks a significant milestone for the digital platform as it seeks to popularise and demystify the usage of cryptocurrencies for social enterprises.
“Our collaboration with DJ Soda and Xillion marks the first time that we are aware of a social enterprise has partnered with an artist and NFT launchpad to raise funds for more than one specific charitable initiative,” said Mr Murchie.
“Although there have been previous NFT and charity partnerships, the specific point of difference in what we are doing is that via Little Phil and Xillion; we are empowering multiple creators to create artworks for multiple charitable causes – rather than one-off initiatives. By allowing NFT creators to allocate a percentage of earnings towards social impact effectively, we are creating multiple, new and ongoing revenue streams for charities – this has the potential to transform charitable giving.”
Founded in 2017, Little Phil is a total giving ecosystem that connects donors, businesses, and brands more directly with charities and beneficiaries through its blockchain-inspired Fintech technology platform that allows users to select a cause that they care about and directly give to that specific initiative – allowing them to track their impact in real-time.
Its partnership with Xillion and other NFT exchanges is critical as it allows charities using Little Phil the ability to navigate and fully harness the world of cryptocurrencies, NFT’s, and blockchain-based technologies to help them raise funds and solve the problems they were founded for using Web 3.0 technology.
According to Josh, this initiative is designed to improve access for charities to partner with organisations and celebrities across multiple projects while also giving them the ability to unlock cryptocurrencies as a funding source via the Xillion platform.
“Essentially, what we are doing via the Little Phil platform is providing charities the ability to access cryptocurrencies as a funding source, while Xillion gives us the ability to launch new NFT’s to the market and collect the money from collectors and traders,” Josh said.
“This initiative is at the very forefront of Web 3.0, and the goal of this next wave of technology is to create a more open and democratised world by empowering creators, along with new and emerging players who are reshaping the corporate and wider world. What we are doing here is providing charities, small and large, the ability to work in this space to empower them to increase their impact, while also allowing creators a greater ability to select causes that mean something to them.”
About Little Phil:
Little Phil (short for little Philanthropist) was founded in October 2017 and believes that with the latest scalable technology and passionate people, we can make the world a better place.
It all started with a mission to develop a smartphone optimised giving platform designed for the next generation of givers. Little Phil has now evolved into creating a total giving ecosystem that connects donors, businesses, and brands more directly with charities and beneficiaries. This provides donors full transparency around where their donations go and charities the ability to showcase the difference every dollar makes in real-time.
Little Phil has won industry awards for innovation, represented Australian Fintech and Social Enterprise Startups at the largest technology conferences in the world, and is proudly supported by the Queensland governments Ignite Ideas Fund.
Learn more at: littlephil.org
For interviews, images or further information please contact:
Sean Braybrook, [email protected]/m 0406 961 067
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