Image via nft now

Goats and NFTs? A Look Inside the ‘First Web3 Non-Profit’

BY Rupendra Brahambhatt

May 17, 2022

NFTs have brought like-minded fans closer together. They’ve helped businesses keep their doors open. They’ve led to the rise of some of the most creative communities on the web. For these reasons and more, NFTs are emerging as one of the world’s most powerful blockchain innovations. However, for those who still have doubts about how non-fungible tokens (NFTs) can change the world, here is an NFT project that clears up all confusion. 

Meet the organization that claims to be the world’s first Web3 non-profit. 

The San Diego-based Web3 non-profit known as Happy Goat is creating 4,242 animated NFTs, and these digital tokens are going to be much more than just an entry on the blockchain. The NFTs from Happy Goat serve as passes to an entire ecosystem, including access to the company’s DAO membership and a real 1850-acre regenerative farm located right by Yosemite. The regenerative farm hosts a music studio, various community spaces, an indoor/outdoor kitchen, art installations, and more.

By purchasing a Happy Goat NFT, you can enter and enjoy the world run by the Happy Goat community. 

Each NFT has a piece of generative artwork attached, and the minting cost for each is set at 0.086 ETH. These exclusive digital tokens will be available for private minting on May 17. This will be followed by a private community mint for projects who have supported Happy Goat (Adam Bomb Squad, Cryptoadz, NounDAO, and Creatures just to name a few), and a public mint shortly after.

How will the funds be used?

As noted, Happy Goat claims to be the very first Web3 non-profit. On their website, the team states that they aim to replace traditional donations and forms of fundraising with NFTs, cryptocurrencies, and DAOs. Why? Because these technologies and forms of governance better enable community ownership and transparency.

For example, the Ethereum blockchain will be used as the primary tool for funding allocations, enabling token holders to vote on where and how money is spent. Specifically, all public donations Happy Goat receives will go towards climate food justice projects, as voted on by holders.

Notably, the company has also already received $6 million in funding from the Cahalin Family Foundation and various other donors. As a result of this funding, the farm is already functioning and is working on completing the rest of the buildout. In an email exchange with nft now, Willie Morris, one of the Co-founders of Happy Goat, explained that the funds raised from primary and secondary NFT sales will be put towards the community and operating costs for year two and beyond. 

“We want to be VERY transparent with funds. 90% of mint goes towards Happy Goat and 10% covers the team,” he said. “This means a bigger impact and more fun along the way.”

What makes the Happy Goat project so tempting?

For most collectors, the major highlight of the Happy Goat non-profit is (obviously) its regenerative farm. And yes, it has real goats. The animals provide compost for the farm and also assist with fire mitigation by clearing brush.

But the project is ultimately all about the environment. “On the backend, our nonprofit fights climate change and advocates for food justice via the regenerative farm,” he said. When it comes to food security and justice, the output of the farm will consist of a lot of “nutritionally dense, delicious food.” These goods will be used on the farm for events and guests, and everything that’s leftover will be distributed to food banks, partners, or other projects that the team is involved with.

Such work is typical of regenerative farms. They focus on reversing climate change by improving the water cycle, restoring the topsoil, and promoting biodiversity. Farm owners undertake permaculture, agroforestry, waste recycling, and many other sustainable practices to improve the overall health of the soil and ecosystem. 

To some, it may seem counterintuitive to use NFTs to fight climate change. After all, a number of articles have claimed that NFTs use far too much energy and, as a result, are bad for the environment. However, a critical analysis of these accusations reveals that the claims are largely overstated and unfounded. Additionally, Happy Goat notes that “many web3 technologies have, or are in the process of, transitioning to newer solutions that use a fraction of the energy as some of the early web3 technology.”

The project is also a far less risky investment than many other NFT projects, as the team lists their names publicly and is an officially registered non-profit with 501c3 status in the United States.

Benefits that Happy Goat NFT holders will enjoy

Morris noted that utility is a key focus of the NFT collection. He stated that the team is “building [the project] not just for our community, but for the greater Web3 creator community. NFT holders get a membership to the space up here plus airdrops, events off the farm, merch, all the stuff we’ve come to expect from projects, but with our own twist.”

Specifically, genesis NFT owners get access to the following:

  • Happy Goat DAO membership
  • Voting rights on ideas and issues related to the farm
  • Community and special events
  • Unique volunteer activities at Happy Goat farm
  • Exclusive merchandise
  • Special drops
  • Content from the Happy Goat community.    

Happy Goat says they are planning to organize its first event for the Genesis NFT holders in the next couple of months. Creators of CHFTY pizzas, chef Tom Colicchio and Spike Mendelson are likely to attend this event, though this has yet to be confirmed.

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