LOS ANGELES, November 27, 2017 /PRNewswire/ --
CharityStars, the online fundraising auction platform, today announced AidCoin the token for charitable giving, has raised 8,333 ETH (over $4 million USD at the current exchange rate) in its pre-sale. AidCoin strives to provide an increasing level of trust and transparency within the non-profit sector through its blockchain-based technology solutions.
CEO and Co-Founder of CharityStars, Francesco Nazari Fusetti said, "As public trust in charities continues to fall despite the unprecedented rise of charitable contributions, donors are increasingly demanding transparency and accountability for where their money is going. Traceable and secure by design, blockchain has the potential to completely revamp the charity sector and address the well-founded concerns of gracious donors around the world."
Co-founded in 2013 by Francesco Nazari Fusetti, Manuela Ravalli, and Domenico Gravagno, CharityStars is headquartered in Los Angeles, with offices in London and Milan. Auctions are conducted through the online platform, which features an array of luxury experiences or products with proceeds going to partnering charities.
To date, CharityStars has raised over $10 million USD in funds, supporting 450 charities including UNICEF, Save the Children, and WWF. CharityStars has worked with over 1,000 celebrities and brand partners such as Valentino Rossi, Andy Murray, James Blunt, Vivienne Westwood, Vanity Fair, and Redbull.
Last month, CharityStars announced the first integration of Bitcoin and Ether onto their platform, enabling auction participants to bid with the two most popular cryptocurrencies for a meet and greet with Cristiano Ronaldo. Ongoing auctions in Bitcoin and Ether include the chance to meet tennis champion, Rafael Nadal and have dinner with A-list actor, Sharon Stone.
"In addition to our established relationships with reputable charities around the world, we are leading the sector by integrating our overall vision to assist charities in their transition to digital fundraising, a transition that now includes the move into the most exciting technology of our time," added Fusetti.
Donors can take advantage of blockchain technology to track transactions, cryptocurrencies to transfer funds immediately and immutably, and smart contracts to ensure donations are spent correctly. CharityStars empowers AidCoin as it strives to disrupt the modern charity sector. AidCoin is an ERC20 utility token that allows CharityStars to raise funds through blockchain technology, while easily tracking their donations on a public ledger, called AIDChain.
AidCoin also allows charities to integrate a donation button, called AIDPay, on their website that enables the acceptance of cryptocurrencies for their fundraising campaigns. Donors can donate in any cryptocurrency or altcoin that will then be converted into AidCoin at the current exchange rate. CharityStars will be the first platform to utilize the token internally among its community of 40,000 bidders.
"With the rapid adoption of cryptocurrencies holding the potential to impact the way in which we donate, I am certain that AidCoin is set to play a leading role in this new era of fundraising," concluded Fusetti.
The AidCoin token sale will take place from December 15 to December 30, 2017, where participants can use ETH, BTC, USD, EUR, and CHF to participate in the sale. The AidCoin token (AID) conversion will occur at the token sale rate of 1 ETH = 1,000 AID which will be the price of AID tokens at the public token sale on December 15. The token sale will be managed by Bitcoin Suisse, the world's leading crypto-asset broker and asset manager.
As soon as the token sale closes, donors will be able to immediately use the AidCoin token on the CharityStars platform to purchase one of the five hundred monthly high-profile auctions featuring celebrities, artists, and luxury experiences.
CharityStars CEO Francesco Nazari Fusetti is available for interview
Founded in 2013, CharityStars the leading online fundraising auction platform for the nonprofit sector. Leveraging on the power of celebrity, technology, and the media, CharityStars' vision is to help charities transition to digital fundraising.
CharityStars specializes in auctioning unique celebrity experiences and rare collectibles. Operating in a growing global giving market worth $15 billion USD in the United States alone, CharityStars has offices in Milan, London and Los Angeles, operating in three different markets.
To date, CharityStars has raised over $10 million USD in funds, supporting 450 charities including UNICEF, Save the Children and WWF. CharityStars has worked with over 1,000 celebrities and brand partners such as Cristiano Ronaldo, Valentino Rossi, Andy Murray, James Blunt, Vivienne Westwood, Vanity Fair and Redbull.
In 2017, CharityStars created and backed AidCoin, an ERC20 utility token that allows people to donate to charities while easily tracking their donations on a public ledger. AidCoin also allows charities to integrate a donation button on their website that enables the acceptance of cryptocurrencies for their fundraising campaigns.
CharityStars is creating AidCoin, an ERC20 token that will provide transparency in the nonprofit sector, allowing individuals to track their donations on the AIDChain public ledger.
AidCoin additionally allows charities to integrate a donation button, called AIDPay, on their website that enables the acceptance of cryptocurrencies for their fundraising campaigns. Donors can donate in any cryptocurrency or altcoins that will be converted into AidCoin at the current exchange rate.
CharityStars will be the first fundraising website to utilize AIDChain and to accept AidCoin within its own ecosystem of charities, donors, celebrity donors and events.
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