The Nelson Mandela Foundation (NMF) has decided to leverage non-fungible tokens (NFTs) as a fundraising initiative for its work, according to reports in South Africa.
NFTs are unique digital assets that can represent ownership or proof of authenticity of a particular digital item such as artwork, music, or collectibles. In this case, the NMF is selling 1,918 NFTs with a value of $1,000 (R19,000) each in collaboration with digital works marketplace, Glorious Digital.
“This innovative and exclusive membership offers a rare chance to partner with the iconic Nelson Mandela Foundation and join a community of supporters from around the world, united to uphold Mandela’s legacy.”
The foundation’s decision to release 1,918 ‘founding memberships’ is a unique and commemorative initiative to honor Nelson Mandela’s legacy ten years after his passing.
These memberships come with a digital artwork of Mandela created using four photographs taken by Andrew Zuckerman in 2007. The artwork showcases Mandela in 27 colors, symbolizing the 27 years he spent in prison during his fight against apartheid.
The Nelson Mandela Foundation in partnership with Glorious is proud to announce the release of the Digital Patronage, a lifetime membership and association with the Foundation symbolised by a unique digital artwork. Limited to 1,918. Join us today at https://t.co/tLjYjiiMy5… pic.twitter.com/Cn91rrBGJn
— Glorious (@glorious_digi) May 10, 2023
The sale of the 1,918 ‘founding memberships’ NFTs has the potential to raise $1.9 million (R37 million) intended to support key initiatives such as feeding schemes and support for early childhood development centers.
“The Nelson Mandela Foundation is constantly exploring innovative ways to reach a greater breadth of supporters. By using emerging technology, the foundation can further unite supporters globally,” said Sello Hatang, the foundation’s CEO.
NFT technology is attractive to the NMF because it was low cost as there were no intermediaries and that it was a transparent, secure, and efficient way to raise funds.
“Your Digital Patronage gives you the opportunity to join an extraordinary community of fellow patrons to share and promote Madiba’s values of courage, empathy, collaboration, and working for a better tomorrow.”
According to Glorious Digital, members will also receive exclusive benefits, including:
- Gifted digital artworks from the archive
- Exclusive invitations to the Nelson Mandela Foundation and multiple events both online and in-person
- Unique opportunities to participate in the Foundation’s activities and initiatives
- Access to a digital members-only portal of curated content
- Be the first to know about future limited-edition digital artworks from the Nelson Mandela Foundation
According to Glorious Digital, they made use of CENNZnet blockchain to produce the NFTs, a chain which had minimal transaction fees and a relatively low impact on the environment.
In 2022, an NFT version of an arrest warrant for the anti-apartheid icon and former President of South Africa raised $130,550 at an auction with proceeds supporting a museum preserving the history of South Africa’s anti-apartheid struggle.
The Digital Patronage will be available exclusively on the Glorious Marketplace.
Click here to register your interest.
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