How does a For-Profit Business Become Involved?
Agami Company is a For-Profit company that plans to create a significant impact by using an "Effective Altruism" model within our P&L management & our Royalty System.
We're a fully funded luxury product company that is integrating Web3 Technology into our products. Within our Smart Contracts, 5% of every sale will go to organizations that are targeting big problems that are often overlooked. Even more so, Our Smart Contracts will include 5% of every resale going to underserved problems, in perpetuity.
Example:
1.) A Luxury Item is sold for $500. 5% of the initial sale goes to a select non-profit using Web3/Blockchain technology ($25)
2.) The Luxury Item is later resold for $1000. 5% of the resale goes to a select non-profit using Web3/Blockchain technology ($100)
3.) With our goal of selling 50,000 units of luxury items and 10% of those items resold the following year (5,000 units) for a 100% markup ($1,000 off the original price), that'll be $250,000 to go to organizations targeting underserved issues. for the year.
We're looking to double this outcome year over year with a 5-year goal of $4m goal to go to underserved issues through resales alone.
If you have insight or feedback on the idea as well, we'd love to hear all points of view.
Cheers,
Patrick Skinner
[email protected]
Are you familiar with Founder's Pledge? If you can credibly commit to donating large fractions of future profits or equities, I think it's often a better idea in early stages of a for-profit startup to reinvest the money back into growth and focus on growth initially, and ramp up giving relatively slowly.