With a focus on transparency and sustainability, DoinGud will be allocating at least 5% per sale to social impact organisations
The recent hype around non-fungible tokens (NFTs) has seen plenty of new NFT products and platforms springing up, as well as some criticisms. And now a brand new NFT platform has been announced — but this one comes with a difference.
In a press release last night, DoinGud unveiled its plans for a community-driven, blockchain-based art marketplace. As the name suggests, the platform aims to do some good while supporting creators in the NFT market.
At least 5% from every sale on the platform will be allocated to a social impact organisation, as selected by the creator. The use of the blockchain’s public ledger means that all these payments are stored transparently within the altruistic ecosystem.
What’s more, DoinGud also addresses the concerns of many within the community and outside it about the carbon footprint of NFTs. The team behind the new platform are committed to using a proof-of-stake architecture so as to reduce the ecological impact of NFTs, while significantly lowering the associated fees.
To achieve this, DoinGud will be leveraging a blockchain infrastructure powered by Polygon (previously Matic Network). The project has also seen the support of some big names in the blockchain industry, such as Alameda, Super.nova, Kenetic Capital, MetaCartel Ventures China and Genblock.
To meet the needs of its community, DoinGud is designed to be a social media platform as well as a marketplace. The automated collaboration system makes it easy for creators to work together, with the sales proceeds being trustlessly distributed.
The platform will also feature a multi-gallery curation system that will help creators to build their brands by enabling them to host their own communities. In addition to this, DoinGud will unlock extra creative potential and future utility through innovations such as smart NFTs facilitated by AI.
Buyers can use either cryptocurrency or a credit card to purchase limited-edition NFTs on the marketplace, making the platform more accessible. DoinGud’s intention is to become a social marketplace that is owned and curated by its community.
Some artists have already signed up as partners to the platform and will be revealed shortly in a presentation. Further details are still to be announced, but DoinGud is planning to launch this summer.