https://ift.tt/SpPhFNj NFTs To Be Released By George Floyd’s Brother To Honor Justice Day.

TL;DR Breakdown

• Terrence Floyd partnered up with Confront Art to release the NFT collection to mark Justice Day.
• Proceeds from the NFTs sale to support We are Floyd Foundation and others.
• NFTs are effectively being used for fundraising campaigns.

Terrence Floyd, brother of George Floyd, has collaborated with Confront Art to create 9,000 Non-Fungible tokens (NFT) to commemorate today April 15, which is regarded as Justice Day. Following the death of George Floyd in 2020 – due to the brutal treatment by Minneapolis Cop, Derek Chauvin – waves of protests erupted across the country under the “Black Lives Matter” movement. It is regarded as one of the largest in American history, with over 15 million people taking part.

Two years later and the protests have subsided, Mr. Terrence Floyd continues to advocate against racism and social injustice. He is the founder and leader of the We are Floyd Inc, a non-profit organization committed to fighting for human rights and social justice.

This latest effort of his comes as a partnership with Confront Art, a group that supports social justice causes through art expressions. Together, they will be putting up 9,000 NFTs for sale on mintNFT.com to celebrate April 15 –  tagged Justice Day. The money generated via the sale of these NFTs will be disbursed to support the We are Floyd Organisation and two other charities namely: The Breonna Taylor Foundation, and the John and Lillian Miles Lewis Foundation.

NFTs as a fundraising tool.

Non-Fungible Tokens represent a digitized form of art such as painting, video, music, and so on. These tokens are unique and cannot be exchanged for another hence the name “non-fungible”. Similar to other crypto assets, NFTs continue to gain popularity throughout the world. Businesses, game studios, and social media firms – just to mention a few – have found different ways to adopt the usage of NFTs which have proven quite beneficial. 

Recently, Non-Fungible Tokens have also been employed as a fundraising tool. Last month, Momint, a south African NFT marketplace, auctioned off a digital image of the arrest warrant of anti-apartheid activist and South African President, Nelson Mandela. The NFT was purchased for over $130,000 and the money was used to fund the Liliesleaf Farm and Museum which holds the original arrest warrant.

In the same month of March, three Ukrainian media outlets partnered up with NFT Platform Vault for the sale of 10,000 NFTs – which contained various information pertaining to the ongoing Russian-Ukrainian war. The funds generated will be utilized to support the media’s effort in covering the Eastern European conflict. As the world continues to explore the products of blockchain technology, there are expected to be more novel applications of NFTs and other digital assets.