A new NFT project is attempting to promote the “joy of missing out” or JOMO in Web3 while raising funds for mental health charities. The JOMO Effect NFT collection is the brainchild of Peace Inside Live, a collective of content creators, digital artists, and mental health and wellness advocates.
The JOMO Effect collection features NFTs from 40 artists, each with a focus on wellness and mental health. The project will be available via the Magic Eden marketplace and minted on the Ethereum scaling network, Polygon.
Minting a JOMO Effect NFT will cost 24 MATIC (about $23 today) in the public sale, and proceeds from the drop will benefit five mental health charities: Aakoma Project, Half The Story, The MINDS Foundation, LOVELOUD Foundation, and the American Foundation for Suicide Prevention.
Collectors who buy at least five JOMO Effect NFTs will receive a special edition Adam Bomb Squad NFT for every set of five, and those who collect all 40 unique NFTs will receive extra perks, including tickets to events by TimePieces and House of First.
With Mental Health Awareness Month underway, the JOMO Effect NFT project looks to sprinkle positivity throughout the community and counteract the anxiety that can come from keeping up with the fast-moving space. “FOMO,” or the “fear of missing out,” can stress out NFT and crypto traders looking for the next big thing.
The project aims to combat anxiety and promote mental well-being in the Web3 community. “Web3 can be a lonely space, as much as it preaches community, because our entire worlds live online disconnected from other humans,” said contributing artist Jeremy Fall. “I’ve been an avid advocate of mental health awareness over the last few years, and think it’s something that needs to be more prominent in Web3. ‘JOMO’ is an interesting new way to help convey a message by bringing artists together.”
JOMO is short for “joy of missing out,” a decidedly different sensation from FOMO. FOMO took hold in the NFT market amid the 2021 surge, as traders volleyed to mint artwork and collectibles that often brought considerable returns when sold. The market has since struggled amid diminishing demand, prevalence of scams, hacks, and exploits that see collectors parted with their NFTs and/or money.
“FOMO is a pretty unique flavor of anxiety,” said Peace Inside Live co-founder Jordana Reim. “We have been really focused on supporting mental well-being, and one of the mental plagues that we have felt very deeply—particularly in tech and Web3—is anxiety.”
The JOMO Effect project aims to help combat this anxiety by promoting a healthier attitude towards trading and collecting NFTs while simultaneously supporting mental health charities.
In addition to using the Polygon blockchain to mint the NFTs, Polygon Labs also worked closely with the group and supported the JOMO Effect project with Twitter Spaces and promotion. The JOMO Effect was also created in partnership with Deepak Chopra’s Seva Love and the Chopra Foundation to offer mental health-focused benefits for NFT holders, including an exclusive online meditation with Chopra.
The JOMO Effect is a timely reminder that, while the NFT market may be a fast-moving and sometimes stressful space, it’s important to prioritize mental well-being and find joy in missing out.