Digital mental health collective Peace Inside Live is releasing a wellness-inspired non-fungible token (NFT) collection to raise funds for mental health in the Web3 space.
The company is teaming up with 11 partners, including alternative wellness advocate Deepak Chopra’s metaverse organization Seva.Love, TIME magazine’s Web3 arm TIMEPieces, crypto domain provider Unstoppable Domains, digital artist Adam Bomb Squad and NFT platform House of First, to release the JOMO Effect NFT collection in honor of May’s Mental Health awareness month.
With over 40 creators contributing digital art works to the collection, 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. The “Joy List,” or allow list, opened for three hours preceding the public mint at 20 MATIC, or about $18.
Minting a JOMO Effect NFT donates primary sale profits to five mental health charities, including the American Foundation or Suicide Prevention. Collectors can also participate in Chopra’s Soul of Leadership course, access to Peace Inside Live’s meditations and mindfulness materials, claim a 30% discount for an Unstoppable Domain, and more.
JOMO, or the “joy of missing out,” is a term that emerged to counteract FOMO, or the “fear of missing out.” It’s been a prominent conversation in the Web3 space as collectors have been eager to “ape” into collections, attend events and be omnipresent in the NFT space in hopes that they don’t miss the opportunity to turn a profit.
Shira Lazar, Emmy nominated host and co-founder of Peace Inside Live, told CoinDesk that FOMO can exacerbate stress and anxiety for creators, preventing them from setting aside important self-care and wellness practices that community members should prioritize. She hopes the collection will start a discussion about the significance of mental health in Web3, and offer collectors a chance to make an impact for the greater community as well as themselves.
“I believe if we really want to make or have this industry be different as we know it is disruptive, how do we integrate [mental health] into the foundation of what we’re building?” said Lazar. “Through everything we do, we’re not just promoting this idea, but we’re allowing you to practice it.”
Chopra, who has been an advocate for mindfulness throughout his career, said in a press release that he sees Web3 as a space where efforts to promote mental health are necessary as the industry continues to grow.
“I believe that each of us is a unique strand in the intricate web of life and that we are here to contribute,” said Chopra. “The collaboration with the JOMO Effect is part of our ongoing focus on nurturing community and well-being in the Web3 space and working towards a more sustainable, peaceful, healthier and joyful world.”