Taking Notes on the Development of a Global Impact Market

This article is the first in a series dedicated to EcoSynthesisX's vision of the Global Impact Market, a future where public goods become liquid. This series aims to highlight practical steps to achieve this vision.

Currently, many projects around the globe are making a positive impact, from cleanups and recycling educational programs to animal care activities and tree planting projects. These projects not only differ in their niches but also in their organizational structures. Some are officially registered NGOs, while others are community groups of concerned citizens. Their funding sources also vary, ranging from traditional grants from governments or organizations to QF rounds and crypto donations.

So, what are these nonprofits dedicating their energy and time to? The traditional answer would be that they produce a positive impact in various aspects of human life. However, we believe a more accurate description is that they produce products (Impact Products).

The primary issue is funding. Many, if not all, nonprofits aim to create an impact first, but creating an impact requires proper funding. Securing proper funding requires significant time and effort. The main funding options are usually grants and donations.

What can we do to empower and boost nonprofits in terms of funding?

You might ask, "What about the products they produce? Why not sell these products?"

This is precisely what our solution addresses! However, there are several problems or gaps we need to fill:

1. Most Impact Product creators do not recognize the products they produce or the possibility of selling them on the market.

2. Those who do recognize this often lack the vision to package and present their Impact Products effectively.

3. Those who have packaged their Impact Products struggle to find the right market space to efficiently distribute them.

4. How do we motivate potential buyers to act? What’s in it for the buyers? Why would they buy?

Solutions

To address those issues, we have designed the following solutions in the form of an MVP with further marketing and adaptation strategies. Some of these solutions are already available, like the Clean Phangan Impact Product. Others are in development, such as the EcoThailand Foundation Impact Product sneak peek and Impact Marketplace. Some are in a low-priority mode, waiting for the right time, like Impact Onchain Rank.

Let's look at them:

1. Local On-Ground Onboarding: Though not directly related to EcoSynthesisX activities, this is executed by local web3 activists working on the ground, like ReFi DAO Nodes or GreenPill Network. Our impact here involves promotion and engagement with other projects like the ones mentioned above.

2. Impact Product: Aims to package and digitally represent the Impact Products produced by nonprofits.

3. Impact Marketplace: Provides a dedicated space to buy and sell Impact Products for causes you support. It also offers incentive mechanics for Impact Product holders.

4. IRL Impact Rank: Aims to provide a reputation score and allow users to build their on-chain reputation by supporting good deeds like buying Impact Products. Partnerships with current human verification tools like Gitcoin Passport will help increase the demand for Impact Products.

We will provide more information on solution development through upcoming articles. Stay tuned!

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