A hill of BeanCoins gives New Orleans bars new hope Not another cryptocurrency but a crowdfunded collective helping the city’s watering holes stay afloat during the lean times of the pandemic 14 February 2021 - 07:53 Shannon Sims Devin De Wulf, leader of the Krewe of Red Beans, with BeanCoin posters in New Orleans, Louisiana, US, on February 11 2021. Picture: BLOOMBERG/BRYAN TARNOWSKI
Houston New Orleans drinking holes are facing financial disaster as city leaders shut them down for Mardi Gras their busiest time of the year but a home-grown currency is offering a lifeline.
A local group called the Krewe of Red Beans launched a crowdfunded “currency” programme this week that’ll funnel cash to bars so they can stay afloat amid the city-wide shutdown. The cash-fronting mechanism is cheekily named BeanCoin but it’s not a cryptocurrency, since it’s not a digital currency and its value doesn’t fluctuate.
Hire a Mardi Gras Artist: $300k raised, 48 jobs created
Krewe of Red Beans By Olivia Vidal | February 1, 2021 at 5:05 PM CST - Updated February 1 at 5:05 PM
NEW ORLEANS (WVUE) - Some good is coming out of the house float trend in neighborhoods across New Orleans. Many of these projects have created jobs for out of work Mardi Gras artists.
The Hire a Mardi Gras Artist project created by the Krewe of Red Beans relies on crowdfunding to support the artists and all materials needed to create the house float designs.
With the community’s help, Krewe of Red Beans was able to fund 24 projects, raising nearly $300,000 and creating 48 jobs. Nearly 100 percent of the money stayed local.
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