Any questions? We’ve got answers

Any questions? We’ve got answers

Oct 24, 2023

We want to ensure our collectors have all the facts and information needed to feel comfortable making Umoja their philanthropic partner. We’ve compiled a list of our most frequently encountered questions, along with our candid responses.

This post will be updated continually, so please feel free to check back again in the future.

How do I buy an Umoja NFT?

First, you must set up a web3 wallet account, like Coinbase, Metamask, or Rainbow. You will then need to fund your wallet with ETH (Ethereum), the currency required to purchase Umoja NFTs. Your original Umoja NFT from our first collection starts at the equivalent of $50 USD for 30/30 pieces and $150 USD for 1/1s. You can use Google for an accurate conversion of USD to ETH at the time of your transaction. When funding your wallet, don’t forget to include a small amount of additional funds to cover gas fees (more on these below).

From there, you can find Umoja on Rarible (our exclusive NFT marketplace), connect your new wallet (in the top right corner), scroll through our library of 250 unique NFT artworks, and place your order.

Please note that our first collection won’t be available for sale until November 28, 2023, so if you’re reading before that date, you’ll have to sit tight just a bit longer. Feel free to bookmark our page for future reference.

Keep our guide to web3 language handy if you spot any unfamiliar terms throughout the process, and enjoy diving into the world of NFTs!

Is buying an Umoja NFT considered an investment?

Umoja’s charity NFTs are not considered an investment, although it is possible to turn a profit if you resell your NFT at a higher cost than your purchase point. As we cannot make guarantees about future market conditions, we strive to position Umoja NFTs as an investment in real-world philanthropic efforts.

Regardless of profit margins, every resale of an Umoja NFT generates 7% royalties that provide continuous funding throughout each NFTs lifetime in perpetuity. With Umoja, we encourage you to consider your NFTs as investments in others so we can build toward a more equal future.

What are gas fees?

Gas fees, similar to service fees for ticketed events, are the marginal fees incurred to run actions on a blockchain network. This covers the cost of running the servers, to make it “go.” Gas fees are dynamic, and can be higher or lower at different times depending on current supply and demand, so it’s best to check the current rates and project your gas fees close to when you intend to buy for the most accurate cost estimate. To purchase an Umoja NFT, you will be responsible for paying the additional gas fee to transfer the NFT to your wallet.

What are royalties?

Royalties are Umoja’s bread and butter! Each Umoja charity NFT artwork is affixed with a 7% royalty rate that automatically runs 7% of every resale in perpetuity to the Umoja Foundation. This means your Umoja NFT purchase isn’t a one-time contribution — it automatically generates passive revenue to fund ongoing support throughout its infinite lifecycle.

What do the proceeds of my Umoja NFT purchase go toward?

Your Umoja NFT will go toward a variety of efforts including fixed and recurring cost projects for our partner Dasom Ministries Orphanage in Uganda, expansion efforts across Africa and beyond, company overhead, and reinvestment into building Umoja. As a company, we are not here for a one-and-done fundraising event — we are here to stay as a modern philanthropic partner with a growth-focused mission.

How did Umoja choose the orphanage you support?

Our introduction to Joel Muwonge at Dasom Ministries Orphanage was nothing short of kismet, and Umoja was initially formed to support the 17 kids housed at Dasom along with the surrounding needy community Joel supports. You can read the origin stories for both Umoja and Dasom on our blog.

What happens after Umoja’s first collection drops on November 28?

Umoja’s debut collection of 250 unique charity NFT artworks will support Dasom Ministries Orphanage, providing continuous access to life-giving resources like food, medicine, clothing, and fixed-cost projects like buying a transport van, developing farmland, building a school, and constructing a larger home.

But our plans don’t stop there! Future collections will continue to be released to support our ongoing expansion and humanitarian impact efforts.

What are Umoja’s future prospects?

As the origin point of Umoja, the soul of our project is with Uganda, but we envision a bright future of expanding our impact to help orphaned children across Africa and eventually the world at large.

While our visions of expansion are numerous, some include: building schools and developing farmland for Dasom Ministries and other communities in need, launching a scholarship project for orphaned students, setting up educational programs for kids to learn modern skills like coding and quantum computing, and fundamentally, providing equal access so children born into limiting circumstances can dream bigger and unlock limitless possibilities.

I bought an Umoja NFT! Now what?

Welcome to the Umoja family! Holders of Umoja NFTs are automatically eligible and considered members of Umoja’s Social Credit Club.

Beyond getting cozy with our members perks (more on that below), we encourage you to wear your Umoja NFT with pride as your social media profile image. By displaying your Umoja NFT, you’re showing the world that you’re invested in our collective future.

While we understand it might feel natural to want to hang onto your Umoja NFT, we always encourage holders to sell and buy (whenever it feels right). This way, each NFT continues to generate passive revenue from royalties, affording us continual support of our partners and mission expansion. Check out our Process page for more information on this cycle of support.

May we also remind you that Umoja’s initial collection is by no means our last — we will continue to work with our partners to generate new artwork for future collections, so there will always be new Umoja charity NFTs to collect and trade.

What’s Umoja’s Social Credit Club?

Umoja’s Social Credit Club is a community for Umoja NFT holders with the following perks:

  • VIP access to in-person and virtual Umoja events

  • Early access to future drops of NFT collections

  • VIP visibility of real-word impact with Dasom Ministries Orphanage and future partners (e.g. AMAs)

  • Discount opportunities (e.g. future drops, printing)

  • Giveaway opportunities

  • Community participation and having a say in its future

  • Be first in line to join Umoja’s upcoming DAO

Where are Umoja’s metrics reported for accountability?

Transparency is one of Umoja’s core values, so we will always strive to provide up-to-date and accurate metrics of how our revenue is being reinvested to make a real-world impact. We intend to publish a monthly statement that outlines where funds have been allocated along with receipts from purchases made by our partners at Dasom Ministries. These statements will be published on our blog and include key metrics on the previous quarter’s profit and philanthropic reinvestments.

Build your social credit: Umoja’s charity NFT collection drops November 28 in celebration of Giving Tuesday, exclusively on Rarible.