by Derek Major
July 6, 2022
HBCU Tokens Provide a New Innovative Way For Alumni, Corporations, And More To Invest In HBCU Schools
Two people have developed a form of cryptocurrency specially designed to help HBCU schools and students continue to thrive and support the education of Black America.
HBCU Tokens is one of the first public-private investments and divestments in HBCU schools and the first cryptocurrency dedicated to benefitting HBCUs across the country. What’s even better is the supporter can decide on what level of investment individuals or corporations give, and it also provides the supporter the comfort of having their funds going to help HBCUs, elevate young Black and brown students, ensure a greater workforce, and elevate society.
“HBCU schools have so many alumni and supporters out there and just needed a platform,” LMarilyn Crawford, one of the founders behind HBCU Tokens, told BLACK ENTERPRISE.
“So I started doing research and reached out to the White House and other organizations as well as people at HBCUs, and we realized there was no HBCU Token. There was a coin, but that money was not going to the 103 schools.”
Crawford added she created the coin and platform to help all 101 HBCUs across the country, not just the notable ones such as Morehouse College, Howard University, and Spelman College. Crawford and her partner Andre Vaughn footed the cost to develop the coin and the platform behind it.
Those interested in purchasing HBCU Tokens can go to the website, create an account, and purchase a coin. HBCU Tokens provide investors with an opportunity to assist with sustainability, the quality and expansion of education at HBCU schools, and much more.
HBCU Tokens have an in-built 10% fee for each transaction reserved to provide financial assistance across all-Black colleges and universities. The community plans on raising as much as $1 billion to assist HBCUs with their financial and educational goals.
In addition to individuals and those in the HBCU community, Crawford and Vaughn are also talking to major corporations about purchasing HBCU Tokens to support Black education and success.
“We’re trying to secure one of two more partnerships in order to make the effort really big,” Vaughn told Black Enterprise.
The HBCU Collective, a collection of HBCU businesses, organizations, foundations, and affinity groups addressing the needs of the HBCU community, is also getting involved.
“This allows them to become self-sustainable without relying on donors, grants, etc. It gives businesses and everyday citizens an opportunity to support HBCUs, as well a long-term investor,” Crawford told EIN Newswire.
“I have lawyers, doctors, teachers, executives in my family, all who graduated from HBCUs. By supporting HBCUs, you support minority communities by increasing economic and social mobility through academic and career resources.”