TOILET PAPER NFT ERASES $7 MILLION IN MEDICAL DEBT
A collection of toilet paper-themed NFTs launched October of 2021. 70% of the revenue was used to erase $7 million in medical expenses. How did this come to be?
The collection, named Rainbow Rolls, was originally a 10k generative project with big goals. The project was initially a play on “consumers buying anything” as long as it was an NFT; A sentiment later contradicted by the fall NFT market. The creators of Rainbow Rolls then chose to limit the collection to a 1k project, and to date- have sold 855 rolls, solely by word of mouth.
This year, Rainbow Rolls was able to take 20% of its sales to RIP Medical debt, a NYC based charity focused on eliminating medical debt. RIP was able to take the money and buy the debt in bundled portfolios, wiping out 7 million in debt.
Rainbow Rolls was the brainchild of Joshua Lapidus, a developer from Dallas. Lapidus partnered with blockchain experts to create his project and even after pivoting his project, was able to accomplish his goal. According to the project’s discord, this is but a beginning to providing financial aid to those in medical debt. The project has also recently announced on twitter their goal of donating to efforts such as UkraineDao and UnChainFund. Rainbow Rolls is available to purchase by mint or on secondary, with a current Opensea floor of .035.
To learn more about Rainbow Rolls and how their efforts are changing medical debt, visit them on twitter @RainbowRolls.
Ashley_NFT
