The hype surrounding non-fungible tokens (NFTs) and smart contracts presents Black Tech Street the perfect opportunity to unveil their latest campaign.
The national initiative — which launched on the Tulsa Race Massacre anniversary last month — is now launching the first-ever regenerative fundraising campaign to build a brand new tech hub for Black entrepreneurs in Tulsa, OK, a press release reports.
As part of its commitment to facilitate a $1 billion investment in the Black Tulsa Economy, Black Tech Street hopes this campaign will inspire social impact giving from today’s most impactful innovators and investors.
“We are minting a one-of-a-kind Centennial Coin NFT to commemorate the 100th anniversary of the Greenwood Massacre and to raise funds to secure the next 100 years of innovation and success for Black entrepreneurs,” Black Tech Street founder Tyrance Billingsley II said in a statement.
In partnership with SecondMuse and Blockchange, the new tech hub will represent what was once the wealthiest and most successful Black community in the U.S. before racism and terror destroyed that piece of its legacy.
“We want Tulsa to be ground zero for a movement and mindset shift that sees Black people everywhere embrace Tech as a means to build wealth and positively impact the world,” SecondMuse Co-CEO Todd Khozein said in a statement. “This Coin is one avenue to kickstart that movement.”
Unlike traditional fundraising campaigns, Black Tech Street’s new approach is using the power of smart contracts and NFTs to shift our methods of donating. With this tech-based method, donors’ initial donation using these digital coins will continue to pay dividends to the charity as well as future buyers.
A press release reports that each time the coin is sold on the secondary market, Black Tech Street will earn a 50 percent royalty of the sale price and the buyer will get a commensurate tax advantage, “creating an inclusive and self-sustaining economy for charitable giving where everyone wins.”
“We call it regenerative fundraising for world-changing causes,” Blockchange co-founder Ron Guirguis said in a statement. “And we couldn’t imagine better partners than Black Tech Street and SecondMuse who are working to create intergenerational wealth for Black entrepreneurs in Tulsa and beyond.”
According to Billingsley II, leaning on the emerging technology of NFTs is both an ode to the past and commitment to the future, which expresses the balance of vision and ambition behind Black Tech Street.
“We are using cutting edge technology and emerging financial vehicles to help fund on-the-ground programs designed to unlock the creativity, innovation and passion of Black tech entrepreneurs now and for years to come,” he said.
The Centennial Coin will honor one of the founders of Black Wall Street, O.W. Gurley, and also represent the future of Black industry and innovation. Donors can bid on the NFT in an auction that will open on Juneteenth (June 19).
All of the proceeds from the auction will go to Black Tech Street to fund its programming.
For more information on the upcoming Centennial Coin Auction, click here.