• Group of Developers Wipe $7M Of Medical Debt With Toilet Paper NFTs

  • In a hilarious move, a group of developers got together for a collection of toilet paper NFTs. Software developer Joshua Lapidus dreamt up the idea in the Fall of 2021 with some blockchain-savvy friends. They settled on toilet paper to make fun of how people were buying anything as an NFT. However, the project wasn’t just a dig at NFTs. In fact, the group took advantage of the increasing popularity of NFTs to raise money for charity.

    Rainbow Rolls: Toilet Paper NFTs raising money for charity

    At first, Rainbow Rolls was set to be a 10K collection of toilet paper NFT characters. Eventually, that number went down to closer to 1,000. To clarify, minting for Rainbow Rolls will continue until one week after the 1,000th NFT sells. The project went live last October and at the time of writing, people have minted 861 Rainbow Rolls NFTs.

    The most important thing to note about these Rainbow Rolls is that Lapidus and crew created them to raise money for charity. Specifically, Rainbow Rolls lists three organizations on its website. To list, the project is giving 16.% of sales to Gitcoin, 16.5% to Giveth and 20% to RIP Medical Debt.

    Amazingly, the money raised for RIP Medical Debt amounted to about $91,000. This was enough for the charity to wipe out $7 million in medical debt for families in need. (To clarify, RIP Medical Debt buys debt in bundled portfolios, which is how they could wipe out that much debt with the money).

    Overall, Rainbow Rolls with its toilet paper NFTs is a fun, lighthearted NFT project with a great goal. To be sure, many projects in the NFT space have been generous when it comes to charitable giving. Although, none others have a claim to such an assortment of wonderful TP puns. Non-Fungible Toilet Paper anyone?

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