A team of three students recently launched an NFT business, MyCryptoWishto raise funds for St. Jude Children’s Research Hospital.

College sophomore Evan Golinsky, junior engineer Sebastian Melendez, and Purdue University senior Zach Lederman started the company in July 2021. According to CNNNFTs – non-fungible tokens – “turn digital artworks and other collectibles into unique, verifiable assets that are easy to trade on the blockchain.”

Golinsky, who has raised money for charities in the past, said he sees a new opportunity with the growing popularity of NFTs.

“The goal of this company is to raise over $1 million for St. Jude Children’s Research Hospital by selling 10,000 non-fungible tokens, with 100% of the proceeds going to St. Jude,” Golinsky said.

MyCryptoWish works in two ways – through the website and through Golinsky’s Discord channel. Golinsky plans to sell 10,000 unique, hand-drawn NFTs in the form of cartoon faces designed by a local artist in Miami, where Golinsky is from.

Users can purchase NFTs through the website, but will have to wait for Golinsky to post them to gain access. He added that he uses his Discord channel to gauge interest in each NFT and will post them when he deems there is enough interest in them.

After that, he plans to release them in a raffle style – if more than one person expresses interest in a single NFT, an algorithm will randomly select one individual to purchase it.

“Essentially, someone will purchase one of these NFTs through the website. And in return, not only do they get a star to represent that they own that NFT, but they also get the satisfaction of knowing that their money has gone to a good cause,” Golinsky said.

After receiving the NFT, consumers can choose to resell it to whomever they want. Using a hardwired address, the company’s programmers have implemented a system where money will flow directly from the consumer to St. Jude to ensure transparency.

“So as long as NFTs are traded and kept in circulation, money will be collected and sent to St. Jude,” Golinsky said.

The company’s current goal is to raise more than $1 million for St. Jude, but Golinsky says “the sky’s the limit” in terms of how much money they can raise in the future. .

He added that he hopes to expand this concept of using NFTs in the future to raise money for other charities and build a community around charity fundraising through NFTs and others. cryptocurrencies.

“Most people have never seen a charity project done in this way, and I hope I can inspire people to do something similar and create a community built around inspiring people to do such projects. “, said Golinsky.

Golinksy and his team hope to publish the NFTs and start fundraising by spring.