Captain Haiti raises $5M, resolves to help Miami community using blockchain

The $5M fund will be utilised in helping the community members acquire affordable homes through blockchain technology

Published: May 19, 2023 01:33:00 PM IST

Updated: May 19, 2023 05:48:30 PM IST

Image: Shutterstock

Captain Haiti Foundation announced a raise of $5 million on May 17, 2023 in order to “combat Miami’s housing crisis and the ongoing gentrification of the Haitian community in Miami."

The Captain Haiti Foundation is a 4947(a)(1) charitable trust and it aims to take this action by leveraging blockchain technology. The fund is sponsored by private equity firm Dargent Group.

The fund shall be used towards helping residents of the Little Haiti neighbourhood in Miami to purchase land, family homes and acquire commercial real estate as explained by the Captain Haiti Foundation’s chairman, Nandy Martin, also known as Captain Haiti.

“By achieving just 5% of Wynwood’s Wall success, our Little Haiti Walls initiative could attract 150,000 tourists annually, stimulating local businesses and amplifying cultural exchange", Martin said.

Martin further plans to enter into a partnership with Nusic, which is a Web3 music infrastructure provider for releasing a limited edition, geo-located music non- fungible token collection. This collection will grant first-option real estate purchase rights to the collectors.

Captain Haiti Foundation also plans to raise $300,000 for beautifying Little Haiti and 30% of the funds will be set aside for community cleanups, public art and planting of greens which will be called the “Little Haiti Walls."

Martin had been previously supported by Charles Hoskinson, the founder of Cardano, and Jeffrey Watson, Miami District Commissioner, for revamping the Little Haiti community by utilising blockchain technology. Watson had then granted $200,000 to 40 local businesses to import Haitian products, while Martin had established the Little Haiti Coin using Cardano’s blockchain for giving discounts on Haitian imports.

Martin strictly opposes what he observes as growing gentrification in his neighbourhood and that has resulted in housing and emigration becoming unaffordable.

Ashley Toussaint, co-chair of the Little Haiti Revitalization Trust, came out in support of Captain Haiti:

“I kindly request your support in addressing this issue and helping us to preserve the Little Haiti Wall project, which plays such a vital role in promoting cultural understanding and appreciation within our community. By doing so, we can ensure that the artistic and cultural heritage of Little Haiti is preserved for future generations to enjoy and learn from."

Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash