Grungo Colarulo, LLC, a New Jersey-based law firm has announced that it has gifted CryptoMories non-fungible tokens (NFTs) to its employees as year-end bonuses that will provide them and their family members unlimited mental health services. In doing so, Grungo Colarulo is believed to be not just the first law firm but the first employer ever to offer employee benefits through an NFT.
The firm’s decision to provide mental health-related employee benefits was strongly influenced by the continued mental health struggles faced by lawyers and staff at large and small law firms alike.
“The practice of law is hard on the minds, bodies, and souls of lawyers and law firm staff members, but few law firms seem willing to step up to help tackle head-on the legal industry’s mental health issues,” said Richard Grungo, Jr., a founding partner at Grungo Colarulo, LLC.
“Grungo Colarulo is willing and able to take on this task. The physical and mental health of the Grungo Colarulo team is the leadership team’s number one priority, both because the firm’s first core value is ‘Family First,’ and because our team members are vital to our firm’s ability to serve and secure favorable results for our clients.”
Grungo Colarulo will gift 30+ CryptoMories NFTs to its seven attorneys and its entire staff. The mental health services will be provided by Impact Suite, which teamed up with CryptoMories earlier this year to provide mental health services to CryptoMories holders. Impact Suite provides a suite of comprehensive mental health and wellness apps that allow users to, among other things, schedule teletherapy appointments, message lifestyle coaches, track wellness metrics, and access mindfulness and meditation practices, all of which can be used anonymously.
Notably, these NFTs provide Grungo Colarulo employees mental health services based on their ownership of their NFT and not because they are employees of the firm. Their employment with the firm has no bearing on their continued access to these services. Should they leave the firm, their access will not be affected so long as Impact Suite and CryptoMories continue their partnership. Additionally, because the NFTs are assets that can be sold or transferred, Grungo Colarulo employees have complete flexibility on how they proceed.
Rich Grungo added, “They can use the benefits, sell the CryptoMorie if it appreciates in value, or transfer the CryptoMorie and its underlying benefits to someone they think may need the benefits more than they do. These benefits are not tied to their employment.”
Grungo Colarulo will help educate all recipients on how to set up and secure digital wallets and they will learn how to utilize the features of Impact Suite.
“The CryptoMories community and project is, in my opinion, unlike any other,” said Lance Wyllie, Marketing Director at Grungo Colarulo LLC. “We are taking advantage of the unique value proposition that NFTs can provide holders. This is an exciting step forward as a traditional law firm and Web 2.0 company utilizes Web 3.0 technology to benefit employees.”