A group of developers wrote off $7 million of medical debts with the help of NFT on toilet paper

Hilarious move – a group of developers got together to build NFTs out of toilet paper. Software developer Joshua Lapidus came up with the idea in the fall of 2021 with a few blockchain-savvy friends. They settled on toilet paper to make fun of how people buy anything as NFTs. However, the project was not just a mockery of the NFT. In fact, the group took advantage of the growing popularity of the NFT to raise money for charity.

Rainbow Rolls: Toilet Paper NFTs Raise Money for Charity

At first, the Rainbow Rolls project was planned as a 10-kilometer collection of NFT characters made from toilet paper. Eventually, that number dropped to 1,000. To clarify, the Rainbow Rolls minute will continue until the next week after the sale of the 1,000th NFT. The project started in October last year, and as of this writing, 861 Rainbow Rolls NFT coins have been minted.

The most important thing to note about these Rainbow Rolls is that Lapidus and the team created them to raise money for charity. Specifically, Rainbow Rolls lists three organizations on its website. The listing states that the project contributes 16.% of sales to Gitcoin, 16.5% to Giveth, and 20% to RIP Medical Debt.

Surprisingly, the money raised for the RIP Medical Debt was about $91,000. This was enough for the charity to write off $7 million in medical debt for needy families. (To be clear, RIP Medical Debt buys debt in portfolios and this is how they were able to write off so much debt with that money.)

Overall, Rainbow Rolls, with its toilet paper NFT, is a fun, light-hearted NFT project with a great purpose. Of course, many NFT projects have been generous when it comes to charity. Especially recently in connection with the situation in Ukraine. But no one else can boast of so many wonderful puns.

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