US-based business magazine Fortune reportedly introduced a new decentralized donations fund with the collaboration of NFT artist Pplpleasr, focusing on journalism.
Specifically, the new Fortune Journalism PleasrFund was reportedly rolled out across the Ethereum blockchain via Endaoment – a charity-centric decentralized autonomous organization.
All proceeds will reportedly be designated to independent journalists and projects which support journalistic integrity.
So far, the fund has reportedly received 214.55 Ether (ETH) – with a value equivalent to approximately $660,000 at current prices, which will be fifty percent of the proceeds of a limited edition Pplpleasr NFT sale, commissioned by Fortune which ended last month.
The four initial beneficiaries of the fund reportedly include Report for America/The GroundTruth Project Inc., Institute for Nonprofit News, Committee to Protect Journalists Inc. and Reporters Without Borders.
The establishments individually will be at the receiving end of an initial distribution of around $165,000 from Fortune and Pplpleasr.
Donations can reportedly be made by people for the fund via cryptocurrency or PayPal, with future proceeds will be channeled towards different projects in journalism.
Back in July 2021, a Bitcoin-centric charity drive reportedly secured $1.3 million in BTC via fundraising in under three weeks, to financially assist the clean water and sanitation initiatives in developing countries.