CharityStars, the online fundraising auction platform, today announced that cryptocurrencies will be accepted on the platform for the first time. A bid of $36,000 USD worth of bitcoin awarded the auction winner with the opportunity to meet the legendary soccer champion, Cristiano Ronaldo. This marks a significant milestone for CharityStars as the company further cements its mission to merge the renowned charity auction platform with the crypto world.
Francesco Nazari Fusetti, Co-founder, and CEO of CharityStars, said:
“With outdated and inefficient fundraising systems, the global charity sector is in need of a complete transformation. The adoption of cryptocurrencies, along with the freedom to bid on once in a lifetime opportunities, provides a new and exciting avenue for charities and brings traditional fundraising to the 21st century.”
Co-founded by Francesco Nazari Fusetti, Manuella Ravalli & Domenico Gravagno in 2013, CharityStars is headquartered in Los Angeles, with offices in London and Milan, spanning a global network of established relationships with international charities and the entertainment industry. Auctions are conducted through the online platform, which features an array of luxury experiences or products which can be purchased at auction with proceeds going to partnering charities.
“It has always been our vision to make a change, be that through our positive-impact partnerships, providing world-class auction opportunities, or linking the traditional charity sector with cutting-edge technology. With our first ever bitcoin bid, this ambitious vision goes a step further,” Fusetti added.
Seeing the addition of cryptocurrencies on the CharityStars platform also yields the integration of blockchain technology. Blockchain technology, the decentralized, public ledger of all cryptocurrency transactions, enables a more transparent system and increases the speed of transactions on the platform. The integration of cryptocurrencies serves two functions; it opens a new market for CharityStars, and it improves the technology infrastructure of the service.
To date, CharityStars has collaborated with hundreds of global celebrities such as Metallica, Valentino Rossi, Jessie J, Novak Djokovic, Eva Longoria, and Cristiano Ronaldo. Recent successful auctions that raised funds for partnering charities include; lunch with the former Italian President Silvio Berlusconi ($74,900); a business pitch with the founder of Candy Crush, Riccardo Zacconi ($27,250); and the official bus of the All Blacks Rugby team ($270,000). Current on-going auctions include meet and greets with Leo Messi and Valentino Rossi.
In addition, the meet and greet auction with Cristiano Ronaldo, saw thirty-four participating bidders competing for the overall prize. The proceeds from this auction will be donated to the Forever Dream Foundation, the association that gives unique experiences to disadvantaged children and families, making their dreams come true through sports and entertainment.
“The opportunity to use cryptocurrencies for the force of good, such as this donation to the Forever Dream Foundation, should be celebrated and shared industry-wide. This is just the first step on our innovative journey to bridge charity with cryptocurrency, and we look forward to the many more milestones to come,” concluded Fusetti.