We have amazing news! Esolidar made it to the podium and took 2nd place at Celo Camp, a blockchain project accelerator encouraging financial inclusion and cryptocurrency adoption.
After being selected for the final stage of the program from a pool of 400 teams, our project was a jury favorite and received one of the biggest prizes.
This was also a great opportunity to learn from the best in the industry and develop a transformative project that will help nonprofits use our technology to reach new heights in funding for their causes.
Want to know more about this journey? Keep reading and we’ll explain everything!
What is Celo Camp?
Celo Camp is a virtual and mentoring acceleration program designed to help entrepreneurs and decentralized technology startups build sustainable and scalable businesses in Celo, a blockchain ecosystem.
This program is an independent initiative, funded by entrepreneurs and run by Upright in collaboration with the Celo Foundation, with a community of +280 teams from over 70 countries. The goal is to empower global financial inclusion, mass adoption of digital money, and the acceleration of startups working to build this reality.
The benefits of joining Celo Camp last beyond the incubation period. Participating teams have access to:
- 8 weeks curriculum, with various educational resources, business guidance, advice, and learning objectives on how to build your project, bring it to market, and scale; Weekly workshops from industry experts and partners
- Funding, through grants, prizes, and high exposure to investment opportunities (alumni have raised over $41,000,000 since 2020).
- 1:1 mentorships meetings with industry experts and leaders;
- Technology and business support for seamless integration to Celo.
- Networking opportunities with like-minded individuals from the Celo community
- And of course, the opportunity to create positive change and a more inclusive world.
In addition, there are two grand prizes of $10,000 and $5,000 for the two winning projects and smaller prizes for 5 finalist teams.
Projects will be evaluated based on execution, product-market fit, innovative use of blockchain technology, and alignment to Celo’s mission of prosperity.
Web3: esolidar’s winning project
esolidar was one of the 30 teams selected to participate in Celo Camp 5 and compete for the final prize. With our team’s best effort and dedication, we got a very illustrious 2nd place that fills us with pride.
As our project’s Blockchain Lead, Rodrigo Baptista, explains
‘Celo Camp was an amazing experience to learn, challenge ourselves to build something from scratch, and accelerate our Web3 roadmap’.
Our winning project will leverage philanthropy and promote ESG practices through blockchain technology. With this solution, we will help nonprofits to maximize their impact and receive funds for their causes in cryptocurrency.
This new way of raising funds is still not very popular in the social sector but is gaining traction, and shows great potential. According to a study by Fidelity Charitable, cryptocurrency donors are more charitable than traditional donors, but 46% of those who made crypto donations say it was difficult to find charities that accept cryptocurrency donations. Nonprofits need to seize this opportunity and take action to receive crypto.
This project will also help with other big philanthropy challenges, like:
- the lack of transparency
- having too many intermediaries
- 30% of funds being lost to corruption
- traditional funding platforms getting censored
With our Web3 solution, we will help all nonprofits that want to receive cryptocurrency donations, to do so in a safe, easy, and efficient manner, using the esolidar platform that you know and trust.
We are also developing a Sweepstakes tool to motivate donors, giving them the chance to earn NFTs that are redeemable for experiences and rewards, promoting philanthropy.
The power of Blockchain
Blockchain is a revolutionary technology with great potential for social development and to diminish inequalities.
One of the main advantages of using this technology is the unprecedented transparency of the donation process. Those who donate in cryptocurrency using our Web3 solution will be able to track their donation from start to finish and ensure that it actually reaches the beneficiary. This is something that you are not able to get with traditional methods.
The transfer process is also incorruptible and assures that the donation is not embezzled or lost, as it is not processed through intermediaries, as it goes directly from the donor’s wallet to the beneficiary’s account.
More news coming soon
What we presented here, are just some of the perks nonprofits can get with our Web3 solution. There’s much more to reveal about this project, that will soon be available at esolidar.
We are very excited to be able to help our community and offer a new way to raise more funds for your causes!
If you want to learn more about other tools for nonprofits available at esolidar and start getting more funds for your projects, visit the esolidar Community page.