Online fundraising auction stage CharityStars is now making meeting celebrities a possibility a reality after announcing that it's accepting cryptocurrencies like bitcoin on its own platform for the very first time. The platform has already seen a bid of $36,000 worth of bitcoin, awarding the auction winner the chance to meet legendary footballer Cristiano Ronaldo.
The proceeds will be contributed to the Forever Fantasy Foundation, the association that gives exceptional experiences to disadvantaged children and families, making their dreams come true through sports and entertainment. The movement in CharityStars to accept cryptocurrencies signals a significant step for the stage as it merges with the crypto world.
Francesco Nazari Fusetti, co-founder and CEO of CharityStars, said that the organisation is striving to be in the forefront of their fundraising sector and that it was a natural move to add cryptocurrencies onto their platform.
“This opportunity will change the way we contribute funds into our partnering charities and assist us in reaching a new audience of possible donors in the crypto world,” he added. “We believe that allowing individuals to easily donate with crypto is a significant step ahead in the nonprofit industry”
Worldwide Impact of Charity Stars
Spanning a worldwide network, it has established relationships with global charities and the entertainment sector. Through its online platform, auctions are conducted featuring a range of luxury encounters or products that can be bought at auction with proceeds going to partnering charities.
By providing donors with the opportunity to donate with electronic monies, it adds a new layer of transparency within the charity sector. In addition, it yields the integration of the blockchain technologies on the stage, says Fusetti.
“It is quite apparent that by using dispersed ledgers to monitor trades, cryptocurrencies to transfer funds, and smart contracts to ensure contributions are spent correctly, blockchain has the capability to bring widespread transparency to the sector.”
“CharityStars represents an amazing marketplace where donors spend their cash, be it either via cryptocurrency or fiat money, obtaining unique products or unforgettable experiences that you won't find anyplace else,” explained Fusetti.
At present, donors can bid either through fiat or digital money; however, Fusetti said that they will not rule out an auction exclusively via cryptocurrency later on.