Non-fungible tokens aren’t limited to the world of glitz and glamor, it can also be used for charitable acts that can spread help and love to the ones who need them the most.
The Blockchain Association Singapore (BAS) and the National Trades Union Congress (NTUC) U Care Fund have recently collaborated to roll out an NFT auction event called ”Blockchain For Good”, which will happen on October 4 to 10.
Social responsibility
One great thing about this charitable event is that some of the biggest companies in the world have joined in, proving that even with their market domination, they haven’t forgotten their social responsibility.
Singapore Airlines and Amazon Web Services, both titans in their respective industries, have participated to help raise S$250,000 (US$180,000) for the NTUC-U Care Fund to help low-income union members and their families.
Law firm Drew & Napier, art gallery Ode to Art, and cryptocurrency exchange Coinhako have also joined the “Blockchain For Good” event.
Aside from big companies, high-profile figures are taking part and extend their help to the charity’s chosen cause. Singapore’s Speaker of the Parliament Tan Chuan-Jin and Yang Amat Mulia Pengiran Anak Hamlatul Arsy Mulia, daughter of His Royal Highness Prince Haji Sufri Bolkiah have also joined to support the event.
Public can also join
The public can also join and support Singapore’s low-income families by contributing their NFTs to the auction. They may visit www.singaporenft.org for more information.
The blockchain-powered NFTs have risen in popularity this year, thanks to the ventures of high-profile personalities, it became one of the sought-after assets that pushed its value even further. Even with NFTs inherent volatility, they are still expected to have wider adoption and bigger roles in the near future.
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