Frequently Asked Questions

What is Backers?

Backers releases NFT artwork for the benefit of charities and other organizations. It utilizes various investment strategies to grow the asset pool, creating perpetual funding for charities.  We are replacing the traditional donor model, taking the pressure off of donors going forward.

What happens to the returns from investments?

45% will be reinvested (growing the pool), 25% to the charity, 25% to provide lending services and opportunities for our NFT holders, and 5% will go to cover administrative costs.  

Will I need crypto?

Donors will be able to make contributions using traditional funding such as ACH, Debit and Credit Cards. For these donors, Backers will mint on their behalf and send their NFT to their registered wallet address. These users will receive their NFT up to 14 days after the donation to ensure processing.
Donors may also use USDC and mint directly through the mint page, these users will receive their NFT immediately.

Where is Backers located?

Backers Inc. is registered in Wyoming, and is subject to their legal and regulatory environment. Backers Charity is registered in Nevada, and is subject to their legal and regulatory environment.

Tax write-off?

Backers Charity will provide a tax receipt for every donation, allowing users to deduct the full value of their donation from their annual taxes.

What happens to the funds received by Backers?

100% of the funds go to Backers Charity, a licensed 501c3 charity. Backers grants 10% immediately to the charity that we are supporting. 2% covers overhead and administrative costs. 88% goes into the Backers Fund and is spread among top performing hedge funds to grow it and provide perpetual funding for the charities we support.

Why are you doing this?

Our vision is to empower charities with financial freedom to care for themselves and their communities, without having to continuously return to donors for ongoing funding.

When do I get my NFT?

For donors using traditional finance such as debit or credit cards, we will wait 10 days for transactions to process. Once transactions are complete, we will mint the NFTs on your behalf and send them to your registered wallet address. Donors who mint directly from our website using crypto will receive their NFT immediately.

Can I donate/mint with crypto?

Donors will be able to 'mint' an NFT directly from our smart contract and receive their NFT immediately.