Drawing the attention of the MZ generation with various participatory campaigns
▲ Charity Platform ‘CHERRY’ has reached 10 billion won in donations within four years post launching.
Korea's first blockchain-based Charity Platform 'CHERRY' announced on the 10th that it had achieved 10 billion won in donations.
In just 15 months following the launch of the CHERRY Charity Platform in December 2019, 1 billion KRW of donations have been achieved. After exceeding 8 billion won in donations this April, the total donations exceeded 10 billion won in the next 4 months, displaying steep growth. As the number of donations made are gradually decreasing nowadays, the MZ generation's willingness to donate is also rapidly decreasing. As a result, achievements like these are receiving more attention.
‘CHERRY’ said there are two main reasons for this achievement. The first is that the world’s first 'Microtracking' function, technology that tracks when and where donations are sent and discloses them transparently, was introduced. Secondly, passive 'observers' were turned into active 'participants' in the ESG ecosystem.
These characteristics attracted attention from the MZ generation, especially the younger generation that is usually insensitive to donation culture. Donations from the MZ generation account for 56% of all donations, which is supported by data that 3 out of 5 donors with the largest cumulative donations and 3 out of 5 donors with the most frequent donations are members of the MZ generation.
In addition to cash donations, CHERRY is carrying out various donation campaigns that allow donors to participate in person, such as walking donations and dancing donations. In addition, they recently opened a Cherry Photo donation photo studio at Hanwha Resort Geoje Belvedere, and a cherry on-demand donation kiosk at the National Yamidang Museum and Blissburger Gangdong, showing that donation methods can easily be integrated into daily life. By holding a variety of donation campaigns that allow both executives and employees to participate together, ‘CHERRY’ is leading the donation participation of many companies as well.
Expectations are rising for the Charity Platform ‘CHERRY’ as it is leading a change in donation culture and active donation participation through various efforts and the creation of new donation channels.