Innovation Labs creates the first ever crypto-gift

Innovation Labs creates the first ever crypto-gift

AUSTIN, Texas, September 21, 2022 (GLOBE NEWSWIRE) – Innovation Laboratories (UIL), a division of breeding, today announced the launch of Crypto Endowment Fund for a Better Childhood—The fund is the first of its kind that enables donors to to Grant cryptocurrencies and maximize the impact of their gift by allowing its value to grow with the market. The Crypto Endowment Fund for Better Childhoods serves as an investment portfolio for Upbring Innovation Lab, backed by cryptocurrency and managed by its partners at The Giving Block – a leading crypto philanthropy company.

When donors offer cryptocurrency, 100% of this money is used to implement the fund’s holding strategy. Over time, the fund’s earnings will be used to fund the latest technology, business, and software solutions to support efforts to break the cycle of child abuse.

“Accepting cryptocurrency gifts is key to funding our efforts to bring new technology to the child wellbeing space, but it’s only the beginning,” said Ryan Park, Vice President of Innovation at Upbring.

In addition to accepting crypto donations, UIL is working to weave itself into the fabric of Web3 to create sustainable funding sources.

A recent study by Vantage Market Research, released on July 1Street2022, that “The global Web 3.0 Blockchain Market revenue is expected to reach $23.3 billion in 2028.”

“Our active participation in the Web3 community is just as important in creating sustainable innovation funding. We partner with miners, protocols, and even NFT artists to build a range of social impact partnerships. Partnerships like this are new to childcare — creating charitable and earned income streams to support Innovation with the potential to transform abusive societies.

Erica Reiling of CryptoVenus, a female-focused Web3 brand, committed to matching the first 4ETH (~$6,500) awarded within the first week of the fund’s launch. Eric Calderon, founder of ArtBlocks, upped the ante in inviting Web3 leaders and other pioneers to donate and personally committed to matching an additional 15ETH ($25,000) in donations before Thanksgiving. In all, the first $31,500 of new gifts donated to the fund can be doubled – effectively increasing the impact of all donations twice.

“We sincerely believe in the mission of nurture and its ability to leverage new technologies to empower girls, children, and historically underserved communities. We hope others in our Web3 community will join us in supporting UIL’s valiant efforts by making a donation to their endowment fund,” Rilling said.

To donate to the Crypto Endowment Fund for a Better Childhood, go to https://upbring.org/give-crypto/. Web3 companies interested in partnering with Upbring’s Innovation Labs can contact Kelsey Driscoll, Director of Innovation and Partnerships at Kelsey.Driscoll@upbring.org

About the Innovative Nurture Labs:

As one of the largest childcare nonprofit organizations in the United States, Upbring works across multiple service lines to advance its mission to break the generational cycle of child abuse through a pioneering suite of innovative programs, products, and services.

Upbring Innovation Labs is an education division that uses human-centered design to identify industry challenges and unites the brightest minds to unlock solutions. Through partnerships with entrepreneurs, business leaders, Web3 companies and universities, the lab turns ideas into real results to create a future free from the harms of abuse.

  • Creativity Innovation Labs creates first-ever crypto endowment fund for innovation in child well-being
        

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