The Built With Bitcoin Foundation has teamed up with Satoshibles NFT and Stacks to enable Bitcoin to be used to purchase NFTs to support future humanitarian efforts through the development of the Built With NFTs collection.
Using earnings from Bitcoin sales of the newly launched Built with NFTs collection, the program seeks to raise funds for their running projects in schools and communities around the world. As a non-profit organization dedicated to delivering clean water, quality education, sustainable farming, and humanitarian assistance, the Built With Bitcoin Foundation strives to enrich communities with tools and tech powered by Bitcoin. The partnership will see 100% of the earnings going back to the beneficiaries.
How It Works.
The Built With Bitcoin Foundation does not run the project as a charity simply collecting donations but rather as value chain generating NFTs as the “product”. As such, the partners’ roles from conception through to distribution are as follows:
Foundation Campuses for Raw Material collection.
The creative process starts in the hands of children from the Built With Bitcoin (BWB) Foundation campuses in Kenya, Rwanda, Nigeria and across the globe. Armed with art and paint supplies provided by the Foundation, students aged 3 to 12 years at the campuses are asked to illustrate what they want to be when they grow up.
Sourcing the Built With NFT collection.
Satoshibles provides Processing Aspects.
With this artwork, the partnership with Satoshibles comes into play as the paintings are separated into two parts and using an algorithm to combine the parts at random.This generated 10,000 unique NFTs of which 5,000 are available to mint on Ethereum and the other 5,000 via Stacks through their STXNFT marketplace.
While Ethereum has been the go-to blockchain for minting and trading NFTs, change came in October, 2021 when Satoshibles launched the world’s first cross-chain NFT bridge between Ethereum and BTC via the Stacks blockchain allowing users to move their assets between blockchains.
How Stacks Is Making NFTs on Bitcoin possible
Creator of Satoshibles, Brian Laughlan expressed enthusiasm for the project saying, “I am excited to see this project span across multiple blockchains. The Built With NFT Collection would not be possible without the students from the Built With Bitcoin Foundation schools. By extending the NFT mint not only on Ethereum, but now to Bitcoin, we have the chance to spread the message even further and take advantage of the amazing Bitcoin community, who at its core, also aligns with the idea of using crypto, in this case, NFTs for social good.”
STXNFT for marketing.
Stacks is a blockchain ecosystem of independent entities, developers, and community members built using the security features of Bitcoin that allows smart contracts to be built on top of Bitcoin. In this ecosystem, STXNFT was the first and is one of three core marketplaces for NFTs in gaming, collectibles, and art on the platform. STXNFT allows users to view all NFTs under one address as well as transfer NFTs from address to another and the Built With NFT Collection is available for minting here.
Reinvestment for continuity.
The project’s first earnings of 13.41 ETH ($ 38,443 at the time) were directly reinvested in the communities that made this collection possible; the BWB Foundation provided resources for art, music, culture, sports, and other extra curricular activities for BWB schools in Kenya, Rwanda, Nigeria, and El Salvador as well as seven solar projects, and over a dozen water and farming systems across the globe.
Ray Youssef, The BWB Foundation Executive Director said, “The Built With Bitcoin Foundation not only builds schools, but strong and sustainable communities around the world. The students’ artwork has already begun to fund new projects and now with the support of the Bitcoin community, we can’t wait to continue to carry out our mission.”
The rest of the proceeds will fund the Foundation’s on-going efforts to build communities and offer humanitarian support around the world with projects in Africa, Asia, and Latin America.
Interview with Built With Bitcoin Co-founders, Yusuf Nessary & Ray Youssef
Beyond the project itself, the Foundation looks to connect the local communities with the global crypto community in a relationship they hope to be sustainable for generations to come. “An important lesson in building Bitcoin communities is that people won’t adopt something they don’t understand.” BWB Director of Philanthropy, Yusuf Nessary points out that they are also giving locals the information and other resources to understand what Bitcoin is and how it can be used to improve their daily lives.