If I ran an ETH raffle for charity, would you enter to win a Lambo?
I was recently named Non-Profit Chairman of the Year (yay!) and am looking some new ways to raise some money for my charity.
We specialise in teen and youth mental health in Sub-Saharan Africa. We're really small but I know we can make a huge difference in poor African communities.
I'm sure you're all familiar with Omaze, but their model is totally for-profit (they get 15% and the charity gets 15%). So, being a bit of a crypto enthusiast, I figured we could hold a smart-contract raffle with a Lambor-frikkin-ghini (or the equivalent in ETH) as the prize. Hold for memes from 2018.
The smart contract would pay out a portion to the charity (say 25%) and hold the rest until enough tickets had been sold to pay out the prize using a random draw as soon as enough tickets had been sold. It's all totally trustless because it's all in the smart contract.
The biggest issue I forsee is not enough tickets selling, so we'd either need to rely on the community to promote it or set a payout date regardless of the amount raised.
What does everyone think?
submitted by /u/SpiritofSpirits
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