Miami blockchain folk hero secures $5M for community tokenization
The fund will be used to help residents secure affordable housing through blockchain initiatives.
On May 17, the Captain Haiti Foundation, a 4947(a)(1) charitable trust, announced a $5 million raise sponsored by private equity firm Dargent Group.
The Captain Haiti Foundation says the partnership aims to leverage blockchain technologies to “combat Miami’s housing crisis and the ongoing gentrification of the Haitian community [in Miami].“ Nandy Martin, who is also known as Captain Haiti and serves as the foundation’s chairman, explained that the fund will be dedicated to helping residents acquire land, family homes and commercial real estate in the Little Haiti neighborhood of Miami.
“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.“
For the first step, Martin will partner with Web3 music infrastructure provider Nusic to release a limited edition geo-located music nonfungible token collection granting first-option real estate purchase rights to collectors. Additionally, the Captain Haiti Foundation aims to raise $300,000 to beautify Little Haiti, with 30% of the funds allocated to community cleanups, public art and planting greens dubbed the “Little Haiti Walls.“
Two years ago, Martin secured the support of Cardano founder Charles Hoskinson and Miami District Commissioner Jeffrey Watson to utilize blockchain to help revitalize the Little Haiti community. At the time, Watson granted $200,000 to 40 local businesses for importing Haitian products, while Martin created the Little Haiti Coin on the Cardano blockchain to provide discounts for Haitian imports.
Known for his eccentric shield and cape outfit inspired by Captain America, Martin advocates against what he believes to be growing gentrification in his neighborhood that has led to unaffordable housing and emigration. In one letter of support for the initiative seen by Cointelegraph, he writes:
“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.“
