Etched Launching Charity-Focused NFT Marketplace with Hockey Diversity Alliance
Etched Launching Charity-Focused NFT Marketplace with Hockey Diversity Alliance

Etched Launching Charity-Focused NFT Marketplace with Hockey Diversity Alliance

by Jordan Kligman

10/4/2021

A new one-of-a-kind NFT marketplace called Etched is arriving soon, solely created to broadcast NFT collections with a focus on positive social impact. Etched is partnering with individuals and charitable organizations to create mission-driven NFTs that embody specific causes, stories, and communities that make the world better.

To debut Etched’s marketplace, on October 12, they’re partnering with the Hockey Diversity Alliance (HDA) to launch their NFT, “The Formation.” Only 2,400 NFTs  at .08 ETH will be available in the drop. The 2,400 number was chosen to represent HDA founder and Minnesota Wild defenseman Matt Dumba’s jersey number 24.

And not to forget: added utility of the NFT, including an opportunity to sit in on HDA board meetings and vote on how the NFT proceeds are used. Let’s get into more details about the Etched NFT marketplace and the Hockey Diversity Alliance drop.

What is Etched?

Etched is a new NFT marketplace specifically designed for the curation of NFT collections tied to charitable organizations and individuals. The mission for Etched is to use NFTs and amplify their power for philanthropic causes that make the world better.  

When an NFT is launched on Etched, it’s launched as a single collection. Eventually, Etched will have a substantial amount of collections with separate communities surrounding each NFT. But in order to qualify as a collection, all must comply with the following key tenets:

  • Premium Creative: the NFT artwork is created in collaboration with premier artists and agencies.
  • Enduring Collections: one release does not make a collection. NFT and community rewards will continue to be added to existing collections. 
  • Supporter Network: NFT holders will be a part of an organization’s broader community of donors making them a permanent part of these groups’ communication networks.
  • Raising the Floor: there must be true value and utility delivered back to NFT holders.

Within the quickly expanding realm of NFTs, we’ve seen some NFT creators take advantage of owners with quick cash grabs with no future utility. But with these principles in place, the holder can be protected. This also gives holders faith — which is ever so important — when seeing a backbone like this behind a project. 

And concerning utility, collection benefits come with:

  • Access to private discord channel(s) with key members of the organization.
  • Token-gated giveaways of exclusive experiences, merch and signed memorabilia, event tickets, and more.
  • Ongoing updates about the deployment of funds raised.

When talking about the platform, Etched community manager Girldad elaborated.

“We’re really hoping to make a sustainable, positive impact on the space with a new way of thinking about what NFTs can ‘do’,” he said. 

Etched stresses utility, and views it as the main separator between traditional fundraising and raising money through NFTs. 

It’s worth noting that Etched NFT drops will exist in your MetaMask wallet, and can be bought/sold/transferred on OpenSea or other NFT marketplaces.

Utility for The Formation from the Hockey Diversity Alliance

“The Formation” release will be Etched’s debut launch, partnered with the Hockey Diversity Alliance. The Hockey Diversity Alliance’s goal is to eradicate systemic racism and intolerance in hockey, and NFT funds will be used to pursue that mission.

When NFTs boomed in popularity this year, former professional hockey player Blake Orban and Dumba — now an assistant captain for the Wild — saw the potential that NFTs could be used for.

“We saw the opportunity to use NFT’s for good, and the deeper we dove into the NFT community as a whole the more we saw how important building community is,” Orban said. “That led to us making the connection that we thought the HDA would be a perfect fit as they are building a long-term community of supporters.”

To add to the community, the Hockey Diversity Alliance will deliver an array of utility. 

If you do purchase “The Formation” collection, you can expect giveaways of HDA merch, signed memorabilia, game tickets, digital frame displays, and more as added utility. Owning five or more NFT from HDA awards you a founding member status that will receive an airdrop and grants additional perks, as well. 

Here’s more from the drop website:

“What we love about NFTs as a way to fundraise is it isn’t a one-and-done donation,” Orban said. “By investing in the NFT, you become part of the HDA community, can publicly show your support with great art, and feel a deeper connection to the organization through utility.”

How does a Charity as an NFT work?

By buying “The Formation” genesis NFT drop from Hockey Diversity Alliance, you’re buying much more than just the NFT. 

Hockey Diversity Alliance NFT roadmap

The proceeds the HDA will receive from the Formation drop will be spent as seen. 20 percent of the proceeds from the NFT drop will go to Etched. HDA has also laid out an expected roadmap for how the funds from the NFT drop will be used.

The Future for Etched NFT Marketplace

As stated previously, this is only just the beginning for Etched. After the initial release of “The Formation,” new NFT’s will continue to be added to the marketplace.

In Etched’s 6-to-12-month roadmap, they plan to continue to source new collections paired with important causes and foundations, with some already planned awaiting to be released. In addition, Etched will be partnering with several non-profits to raise awareness for their communities. 

Follow Etched on Twitter or check their website for more info on future projects. You can also read the Etched white paper, which discusses their long-term vision. 

Follow Jordan Kligman on Twitter: @TopShotTips. Disclaimer: this article does not constitute financial advice.