thenewscrypto.com
- A 7.5-magnitude earthquake hit Japan’s western coast on January 1, 2024.
- Leading Web3 companies are accepting cryptocurrency donations for relief.
- Oasys Japan and Astar Network set up cryptocurrency donation channels, collectively raising $83,000.
A 7.5-magnitude earthquake struck Japan’s western coast on January 1, 2024, causing destruction across Ishikawa and surrounding prefectures. In the aftermath, prominent Web3 companies based in Japan have taken action to gather cryptocurrency donations to aid relief efforts.
Oasys Japan, a major player in the Web3 industry, began accepting donations in cryptocurrencies like its native $OAS token, as well as Ethereum, Polygon, and Bitcoin. Per the company, all contributions, excluding gas fees and taxes, are pledged toward earthquake relief and rebuilding initiatives.
The blockchain startup Astar similarly set up cryptocurrency donation channels through its network to raise funds for victims. As of January 4, the two companies have collectively raised an impressive $83,000, demonstrating strong support from the crypto community.
The mobilization highlights the growing real-world utility of cryptocurrencies and decentralized networks for channeling rapid humanitarian aid during crises.
And with additional Web3 campaigns expected, blockchain technology could play an increasingly vital role in disaster response and rebuilding in the years ahead.
$83,000 Collectively Raised
Astar Network, another key player, initiated a dedicated fund to assist individuals and families affected by the earthquake. The fund, fueled by ASTR tokens, encourages support through donations and the sharing of information to amplify the relief efforts.
Fracton Ventures, in a similar vein, expressed condolences for those affected and opened channels for cryptocurrency donations to aid in disaster relief.
CoinDesk Japan has actively participated in amplifying these initiatives, sharing Oasys’ fundraising efforts across its platform. The involvement of media outlets in promoting these relief campaigns highlights the interconnectedness of the Web3 ecosystem and its potential to drive positive social impact.
The collaborative response from Web3 companies in Japan illustrates the sector’s commitment to corporate social responsibility and the utilization of blockchain technology for charitable causes.
As the total funds raised continue to grow, these initiatives not only provide immediate aid but also emphasize the evolving role of decentralized finance in global philanthropy, paving the way for a more inclusive and responsive approach to humanitarian crises.