Seems similar to open source bounties, which have been tried in the past and never succeeded.

We've seen something like 20+ years of different attempts of voluntary donations to fund open source, and it never worked. Companies barely fund anything voluntarily.

I'm taking the opposite approach with Supported Source (https://supso.org/) which is this: actually force companies to pay to use the project. Sell commercial licenses. Make it mandatory to using your software commercially. This approach works much, much better than voluntary donations.