In May, the highest price auctioned on the NFT platform was for a charity NFT

The NFT market is growing healthily. Charity + NFT + Art will take NFT to a new level

In May, the highest price auctioned on the NFT platform was for a charity NFT

After a “cutback” April, NFT showed healthy growth in May.

Crowds continue to flock to the NFT market, with traditional artists, auction houses, film and music producers …… all flocking to the market. While the cryptocurrency market as a whole saw a substantial correction in May and the overall trading volume of the NFT market shrank due to this factor (most projects are denominated in Ether), the market grew rather than decreased.

In May, the NFT market saw a change in headline deals from a single collection, such as the dominant Meebit, which can be considered a collection, but what makes it different from CryptoPunk is that Meebit can be used for use and its existence is in anticipation of the arrival of the meta-universe.

Notably, the highest priced item to be auctioned on the NFT platform was a charity NFT from a real-world nonprofit called Save Thousands of Lives.

1337 ETH for the charity NFT
Save Thousands of Lives sold for 1,337 ETH at Opensea to Paulg1, who also holds five other NFTs according to Opensea.

Save Thousands of Lives was created by Noora Health, a non-profit charitable venture founded in 2012 by Jessie Liu, Shahed Alam, Edith Elliott and Katy Ashe, and supported by Google. Backed by Google, the project aims to follow patients after they are discharged from the hospital in an attempt to improve outcomes and save the lives of at-risk patients by giving family caregivers the skills they need to care for their loved ones, making patients and their families a central part of healthcare delivery – sounds like a lot to ask, doesn’t it?

But if you know that this program is aimed at India, and that the organization has influence primarily in India, you can see the problem, and the importance of this group (after all, that’s a place where building a toilet can be a hero).

NooraHealth put this NFT on Opensea, and also received pro bono support from Opensea. Purchasing this NFT means that the holder can 1) know where the donated funds are going and how the funds are saving lives, with 100% of the funds going to saving programs, and 2) can prove that the holder is the donor.

NooraHealth says there is no point in reselling this NFT, but it may be passed on to an heir or given as a gift to a loved one, but Paulg1 has held on to this charitable NFT since it was auctioned and has not resold or given it away.

NFT and charity
In the real world, art auctions are often combined with charity, and there is a growing trend of charity in NFT.

NFT analysis site nonfungible pointed out in a recent report that the year-long COVID-19 epidemic has dried up charitable donations, with few opportunities for in-person giving, so philanthropy is actively embracing technology, which is why we can see some crypto startups, NFTs, charities, and artists coming together.

And Coin, which has always had a keen sense of what’s going on in the crypto world, already laid out philanthropy earlier in the year and combined it with NFT.

Just as NFT helps charity quench the thirst for relief funds, charity in turn makes NFT continue to break the circle and rise to a new level, which is why many people take an interest in charity after having wealth.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2021-06-01 00:04
Next 2021-06-01 00:13

Related articles