▲Charity Platform CHERRY has reached 10 billion won in donations in four years since its launch in December 2019/photo credit: CHERRY
CHERRY, the first blockchain Charity Platform in Korea, announced today that it has reached 10 billion won in donations.
CHERRY reached 1 billion won in donations in 15 months after its launch in December 2019, and surpassed 8 billion won in April, and then exceeded 10 billion won again in four months. "This is a significant achievement as donations have been declining and the willingness to donate, especially among the MZ generation, has been declining rapidly," said CHERRY.
CHERRY cites two main reasons for this achievement. One is the introduction of a world-first "microtracking" feature that allows users to transparently track where and when their donations go, using blockchain technology. The other is the transformation of donors from passive observers to active participants in the ESG ecosystem.
"These attributes appeal to Generation MZ, especially young people who are often apathetic about giving, which is evidenced by the fact that at CHERRY, Generation MZ donors make up 56% of our donors, three of our top five cumulative donors, and three of our top five most frequent donors."
In addition to cash donations, CHERRY is also running various campaigns for donors to participate in, such as walking and dancing donations. It has also recently introduced donation methods that allow donors to participate naturally in their daily lives, such as the 'CHERRY Photo Donation Photo Studio' opened at Hanwha Resort Geoje Belvedere and the 'CHERRY On-Demand Donation Kiosk' opened at Yamidang (National Museum of Korea) and Bliss Burger (Gangdong-gu Office).
"You can also run various donation campaigns with your employees," said CHERRY, "which is why we are attracting the participation of many companies."