CharityStars, the online fundraising bidding platform, announced today that crypto-currencies will be accepted on the platform for the first time. A $ 36,000 bitcoin deal gave the auction winner the opportunity to meet the legendary football champion, Cristiano Ronaldo. This marks an important milestone for CharityStars as the company continues to cement its mission of merging the renowned charity auction platform with the crypto world.
Francesco Nazari Fusetti, co-founder and CEO of CharityStars, said:
“With outdated and ineffective fundraising systems, the global charity sector needs a complete transformation – the adoption of crypto-currencies, as well as the opportunity to bid on unique opportunities, is a new and exciting avenue for charities and bring traditional fundraising to the 21st century. “
Co-founded by Francesco Nazari Fusetti, Manuella Ravalli and Domenico Gravagno in 2013, CharityStars is based in Los Angeles, with offices in London and Milan, covering a worldwide network of established relationships with international charities and the entertainment industry . The auctions are conducted through the online platform, which offers a range of luxury experiences or products that can be bought at auction with profits going to charity partners.
“Our vision has always been to make a difference, whether it’s through our positive impact partnerships, offering world-class bidding opportunities, or connecting the traditional charity sector with leading-edge technology. With our first Bitcoin offer, this ambitious vision goes further,” added Fusetti.
Seeing the addition of cryptocurrencies on the CharityStars platform also makes it possible to integrate blockchain technology. Blockchain technology, the decentralized public registry of all cryptocurrency transactions, enables a more transparent system and increases the speed of transactions on the platform. The cryptocurrencies integration serves two functions; this opens up a new market for CharityStars and improves the service’s technological infrastructure.