FAQs

Frequently Asked Questions

What is Backers?

Backers releases NFT artwork for the benefit of charities and other organizations. It utilizes various investment strategies to both 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.  

What do I need to create an account?

You will need a Metamask wallet to connect to our application. You will need to register for our whitelist by providing your email address and wallet address prior to being added to the whitelist.

Where is Backers located?

Backers LLC 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 NFT issued, allowing users to deduct the full value of the NFT from their annual taxes.

What happens to the Ethereum 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 the top performing crypto hedge funds to grow it and provide perpetual funding for the charities we support.

Why are you doing this?

We love the much-needed solutions that DeFi has to offer for the problems of traditional finance, so we’ve come up with a way to retain and grow our assets. 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.

Are some of your NFTs more valuable than others?

Each of our art pieces is unique and collectors will decide which specific artworks are the most valuable in secondary markets. However, all NFT holders will receive access to exclusive content and evens as well as be eligible for future airdrops.

Satisfaction Guarantee?

Backers is certain of our ability to execute on our roadmap and provide utility to our NFT holders. We know the history of NFT projects and are setting a new standard.  If after 90 days you are not satisfied with our mission or execution, we will buy back and burn your NFT.