A NJ personal injury law firm is giving its employees non-fungible tokens exchangeable for mental health teletherapy as a year-end bonus this year, becoming what it said was the first U.S. law firm to offer benefits through an NFT, it announced Wednesday. Grungo Colarulo LLC offered the non-fungible tokens to all of its more than 30 employees, including seven attorneys, framing it as taking a stand for the mental health of legal professionals.
“Mental health is an area in the legal industry where I have personally seen close people affected by disease, depression, anxiety,” founding co-partner Richard Grungo Jr. told Law360 Pulse on Thursday. “I’ve seen it impact mentors of mine and take them from me.”
Grungo, a longtime Web3 enthusiast, found a partnership linking ownership of NFTs called CryptoMories with free access to mental health services from the provider Impact Suite. “Once I realized the incredible benefit they were offering as ownership of an NFT, I thought, ‘What an incredible opportunity to focus on the mental wellness of our people,'” Grungo said.
NFTs are digital assets that have unique identifiers, so no two NFTs are alike. Often they’re sold and treated as collectibles, but these are “utility” NFTs, Grungo said, intended to be exchanged for services…
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