In honour of May being Mental Health Awareness Month, the collection, which encourages owners to practise the ‘Joy of Missing Out’, will donate the majority of sale proceeds to five mental health organisations.
To raise money for mental health in the Web3 space, the digital mental health organisation Peace Inside Live is introducing a collection of non-fungible tokens (NFT) with a wellness theme.
The company is collaborating with 11 partners to release the JOMO Effect NFT collection in recognition of May’s Mental Health awareness month, including alternative wellness proponent Deepak Chopra’s metaverse organisation Seva.Love, TIME magazine’s Web3 arm TIMEPieces, crypto domain provider Unstoppable Domains, digital artist Adam Bomb Squad, and NFT platform House of First.
The tokens are available to mint as an open-edition on Polygon through marketplace Magic Eden for 24 MATIC, or about $21, for the next 24 hours. More than 40 creators contributed digital art pieces to the collection. Prior to the public mint, the “Joy List,” or allow list, was available for three hours for 20 MATIC, or about $18.
The JOMO Effect:
Minting NFT donates the majority of sales proceeds to five organisations that support mental health, such as the American Foundation for Suicide Prevention. Additionally, collectors have access to Peace Inside Live’s meditations and mindfulness resources, can get a 30% discount on an Unstoppable Domain, and can take Chopra’s Soul of Leadership course.
A term called JOMO, or the “joy of missing out,” was coined to contrast FOMO, or the “fear of missing out.” Collectors have been eager to “ape” into collections, attend events, and be everywhere in the NFT space in the hopes that they won’t miss the chance to make a profit, which has made the topic a hot topic in the Web3 space.
Shira Lazar, an Emmy-nominated host and co-founder of Peace Inside Live, told CoinDesk that FOMO can make it harder for creators to prioritise self-care and wellness activities that the community as a whole should value. She hopes that the collection will spark conversation about the importance of mental health in Web3 and give collectors a chance to have an impact on both themselves and the larger community.
How do we incorporate [mental health] into the foundation of what we’re building, in my opinion, if we really want to make or have this industry be different as we know it is disruptive? asked Lazar. We are allowing you to practise this idea through everything we do, not just promoting it.
In a press release, Chopra, a longtime supporter of mindfulness, stated that he sees Web3 as a place where initiatives to promote mental health are required as the industry expands.
According to Chopra, “I think that each of us is a special thread in the complex web of life and that we are here to contribute.” As part of our ongoing efforts to foster community and well-being in the Web3 space and work towards a more sustainable, peaceful, healthier, and joyful world, we have partnered with the JOMO Effect.