We all love the stories about companies who become so successful that they give back and make a massive impact.
We love the sentiments of CEOs who forgo some black on their accounting ledgers in order to make an impact that goes beyond dollars and cents—and even beyond their lifetimes.
With the cryptocurrency craze in full swing, most of us attempt to predict which projects will rise to the top and make that kind of impact. As of now, the jury is still out.
But one exception stands out—a project with philanthropy baked in. It’s a project that allows people to cash in on connecting with others.
Enter Elongate. The Project with Charity in its Heart
According to Elongate’s website, they desire to merge “social media and social impact on a purposeful platform.”
The ecosystem charges a 10% transaction fee that both rewards holders and donates to philanthropic causes.
According to Time Magazine, Elongate has donated over $3 million of crypto to nonprofits around the world. Acceleration of the work continues because of Elongate’s partnership with The Giving Block—a nonprofit crypto fundraising campaign.
We’ve determined the social impact of Elongate, but how about user experience?
Being Social And Doing Good
The social media component of Elongate positions it above the rest. Its DeFi social platform promises a similar experience to Twitter, Instagram and YouTube, with the added transparency of decentralization. Content that makes the world better earns more.
This takes place through Elongate Spark, a mobile app with instant access to Elongate’s ecosystem and users. This affords users an opportunity to “earn more by doing good.”
At the same time, the user elevates social awareness on behalf of certain causes. In this way, Elongate incentivizes users to not only continue to use it but also to do good in the world.
Different Is The New Normal
Perhaps the most unique aspect about Elongate has to do with its origin. It began as a joke told by Elon Musk on Twitter. In the Tweet, he said, “If there’s ever a scandal about me, ‘please’ call it Elongate.”
Yet given how rapidly Elongate has grown, its potential impact is anything but a joke.
The Future of Impacting the World and Your Wealth
With so many different crypto projects to consider, how can we miss out on one like Elongate, which is engineered to give back?
It’s one thing when a company sacrifices some revenue to advance the greater good; its something else when the idea of sacrifice and charity begins at the earliest conceptualization of the business.
Cryptocurrency stands to remain a permanent part of our financial culture. Let’s just hope that philanthropy becomes an even greater part of what we do as well.
If you’d like to learn about other NFT’s that share a vision for philanthropy, I wrote about some that positively impact the mental health community.
And speaking of Elon Musk, take a look at some of my work about his rollercoaster romance with Dogecoin.