Dr. Parik is minting his first NFT — the FinMeme Analyst's most viral tweet to date — and will be donating all the proceeds from its sale to CryptoRelief, a community-run fund dedicated to providing COVID-19 relief in India. Here's what the doc has to say about his charitable endeavor.
Here at Bullish, we cover the bleeding edge of finance, investing, and the folks who are evolving the conversation around money.
As such, we’ve tapped the one and only Dr. Parik Patel to be our in-house Chartered FinMeme Analyst, where he offers a weekly diagnosis of all the viral twists and turns happening in the finance and investing space.
While Dr. Parik is known for his weapons-grade wit and instant-classic Twitter takes, he’s more than just a clout machine. The doc’s got a heart, too.
So this week, he’s skipping his meme round-up to focus on a charitable mission: Dr. Parik will be minting his first NFT — his most viral tweet to date — and will be donating all the proceeds from its sale to CryptoRelief, a community-run fund dedicated to providing COVID-19 relief in India, where the pandemic is still raging.
The auction is underway at Cent, and will be ongoing through May 13th at 5pm EST. To learn more about Dr. Parik’s first NFT and the charity its profits will support, read on for a fresh interview with the internet’s most valuable FinMeme expert.
Bullish Studio: Can you talk about the tweet you’re minting as an NFT and detail why you picked that particular post over your many others? Does the tweet represent the id of Dr. Parik or encapsulate the persona?
Dr. Parik: So the tweet in question is a mock valuation for Tesla ($TSLA). It’s my most viral tweet to date, and I think it really encapsulates my identity as a “Chartered FinMeme Analyst.” It’s been my pinned tweet ever since for a reason, and I’m really excited for someone to own it as a NFT.
Can you tell us about the charity you’re going to donate the proceeds to? Why that particular charity? Anything you want readers to know about what the organization is doing and why donating now is important?
So the charity is called CryptoRelief, a community-run fund garnering crypto-based donations for the ongoing COVID-19 crisis in India. Just last week, COVID cases in India accounted for nearly half of worldwide coronavirus infections, and hospitals across the country have been running out of beds and oxygen. CryptoRelief will use the money to get oxygen, vaccines, food and other resources to those in need across India.
Sandeep Nailwal is galvanizing the “global crypto community” to help rack up donations. Do you have any concerns about donating to a charity via cryptocurrency? Are there benefits to this method of donation?
As expected, I think the main concern is trust that the money will get to the right place, given the anonymous nature of cryptocurrency donations. That said, I think that this is a great way to motivate the crypto community to contribute to something important. Sandeep is a well-respected executive and prominent member of the crypto community, and he’s making a concerted effort to keep the donation process as transparent as possible. For more on the dedication to transparency, see Sandeep’s tweet here.
What are your expectations for the auction? Do you have a price goal you’d like the bid to reach?
I have no idea what to expect! I am selling an NFT of my most popular tweet, so I certainly hope it does well. I’d be really happy if I could raise at least a few thousand dollars, as it would make a small difference to help battle COVID-19 in India.
You often tweet about NFTs, and we’ve featured the topic in your Bullish Studio column. That said, did you ever expect to mint one yourself? Have your feelings or knowledge about NFTs changed since deciding to take on this philanthropic project?
I’ve seen NFTs sell for incredible amounts (notably Jack Dorsey’s tweet for $2.9 million), but I was never expecting to mint one myself. I’ve had many of my followers ask me whether they could buy my tweets as NFTs, but I never felt comfortable with the idea. I post memes because it’s fun and I like bringing people joy. In this case, though, I’m excited to use my platform and embrace this technology to support a good cause. That feels like a good excuse to test out the NFT process.
If your NFT tweet breaks a record — possibly selling for even more than Jack Dorsey’s tweet — how will you celebrate?
I certainly don’t expect it to, but of course I’ll be very happy if it does. That will go a long way to helping people in India. If that happens, I’ll make sure to celebrate with a hot plate of biryani and a nice cup of chai.
Could you imagine yourself minting other NFTs in the future? If you were to pick a second Dr. Parik tweet to mint, which one would it be?
If this one goes well, I don’t see why not! There certainly appears to be a demand, and it would be a great way to raise money for a range of charities. As for which tweet, well, you’ll have to wait and see...
Do you imagine crypto-based charity donations becoming more commonplace in the future? What blockchains or cryptocurrencies are best suited to this type of community-run fundraising?
I think crypto, and more specifically the blockchain, can be incredibly powerful for charity donations. The nature of the blockchain means that it can be extremely useful for maintaining transparency regarding the flow of money, which would go a long way to ensuring that donations end up where they were intended to go. I can certainly see designated “charity coins” popping up over the next decade. It will be an interesting space to watch!
When the NFT is sold, will the buyer/auction winner get anything else from Dr. Parik? A tweet shoutout? A meme about them?
For sure! If the final bid is more than $1,000, I will make sure to tweet a meme of the buyer to congratulate them on their purchase and thank them for supporting an excellent cause.
Besides bidding on the tweet, what are other ways that your audience can support this charitable cause or learn more about the issue?
You can donate yourself to Sandeep and CryptoRelief directly, even if you don’t bid on my NFT. The situation in India has been heavily featured in the news, but spreading awareness is still incredibly important. Other than that, I’d say the best thing that you can do is to stay safe and get vaccinated.