Forget FOMO—JOMO Effect NFT Project Aims to Boost Mental Health in Web3

“FOMO,” or the “concern of lacking out,” can stress out NFT and crypto merchants searching for the subsequent large factor—however a brand new NFT venture is making an attempt to unfold “JOMO” in Web3 as a substitute whereas elevating cash for charitable causes.

With Psychological Well being Consciousness Month underway, the JOMO Impact NFT venture appears to be like to sprinkle positivity all through the neighborhood and counteract the anxiousness that may come from maintaining with the fast-moving area. JOMO is brief for “pleasure of lacking out,” a decidedly completely different sensation from FOMO.

The JOMO Impact NFT assortment is the brainchild of Peace Inside Dwell, a collective of content material creators, digital artists, and psychological well being and wellness advocates. Peace Inside Dwell started its journey in the course of the peak of the COVID-19 pandemic, which can also be when the NFT area first surged to towering peaks.

Dropping on Might 10, JOMO Impact is a group of 40 distinctive digital artwork collectibles by varied artists with a give attention to wellness and psychological well being. The venture can be obtainable by way of the Magic Eden market and minted on Ethereum scaling community, Polygon.

Artists and companions becoming a member of within the assortment embrace non secular thinker Deepak Chopra’s Seva Love venture, Time journal’s TimePieces, Home of First, Jeremy Fall, Jana Stern, Brittany Pierre, Coco Stardust, Dr. Lemny Perez, Jimena Buena Vida, Kira Bursky, and Kristina Flynn.

Minting a JOMO Impact NFT will value 24 MATIC (about $23 at present) within the public sale, and proceeds from the drop will profit 5 psychological well being charities: Aakoma Challenge, Half The Story, The MINDS Basis, LOVELOUD Basis, and the American Basis for Suicide Prevention.

Collectors who purchase not less than 5 JOMO Impact NFTs will obtain a particular version Adam Bomb Squad NFT for each set of 5, and those that accumulate all 40 distinctive NFTs will obtain further perks, together with tickets to occasions by TimePieces and Home of First.

“Web3 generally is a lonely area, as a lot because it preaches neighborhood, as a result of our complete worlds stay on-line disconnected from different people,” artist Fall instructed Decrypt. “I’ve been an avid advocate of psychological well being consciousness over the previous few years, and suppose it’s one thing that must be extra outstanding in Web3. ‘JOMO’ is an fascinating new approach to assist convey a message by bringing artists collectively.”

Fellow contributing artist Pierre, in the meantime, instructed Decrypt that she has “skilled FOMO to the nth diploma” throughout her two years within the area. “It’s necessary to face again and see the larger image,” she added.

Why JOMO?

FOMO took maintain within the NFT market amid the 2021 surge, as merchants volleyed to mint art work and collectibles that always introduced appreciable returns when bought—what merchants typically jokingly known as “generational wealth” from flipping JPEGs.

Because the market has struggled and change into ever extra risky during the last 12 months, merchants have struggled amid diminishing demand as fewer bets on NFTs have panned out when it comes to returns—to not point out a prevalence of scams, hacks, and exploits that see collectors parted with their NFTs and/or cash.

“FOMO is a fairly distinctive taste of hysteria,” Peace Inside Dwell co-founder Jordana Reim instructed Decrypt. “We have now been actually centered on supporting psychological well-being, and one of many psychological plagues that we have now felt very deeply—significantly in tech and Web3—is anxiousness.”

One other time period has additionally change into synonymous with crypto: “FUD,” or “concern, uncertainty, and doubt.” Final summer season, the Bear Market Screaming Remedy Group was fashioned on Telegram to provide crypto merchants a spot to voice (or yell) their emotions concerning the state of the market. November’s collapse of FTX solely amplified the broader anxiousness within the crypto world, alongside different notable platform shutdowns. Occasions like these helped encourage the JOMO Impact initiative.

“I’ve spent a lifetime advocating for psychological well being and wellness, and the JOMO Impact has been an unimaginable alternative to make an impression on a big scale on this approach,” Peace Inside Dwell Web3 Supervisor Jana Stern instructed Decrypt.

“I hope that on the opposite aspect of this mint that we modify—even slightly bit—the way in which we construct Web3, with a give attention to well-being,” she continued. “As a result of if the individuals constructing Web3 and the brand new world usually are not OK, then nothing will get constructed.”

Peace Inside Dwell co-founder Shira Lazar mentioned that along with utilizing the Polygon blockchain to mint the NFTs, Polygon Labs additionally labored carefully with the group and supported the JOMO Impact venture with Twitter Areas and promotion.

The JOMO Impact was additionally created in partnership with Deepak Chopra’s Seva Love and the Chopra Basis to supply psychological health-focused advantages for NFT holders, together with an unique on-line meditation with Chopra.

Different perks embrace entry to Peace Inside Dwell’s library of courses and meditations, plus reductions on metaphysic and wellness companies that the group hopes will create consciousness for a motion round bettering private well being and creating pleasure from inside via arts, dialog, and neighborhood.

“We wish individuals to know their impression from supporting a venture like this,” Lazar added. “Not solely are you getting a wonderful piece of artwork that’s usually price in all probability 1 ETH+ for a few of our artists, however you’re giving again—and then you definitely’re getting again one thing for your self.”