Blockchain Association Singapore (BAS) and Singapore’s National Trades Union Congress (NTUC) U Care Fund today announced Blockchain For Good, their first non-fungible token (NFT) charity auction event, which will take place from Oct. 4 to 10.
The charity initiative, which is supported by Singapore Airlines, Amazon Web Services Inc., law firm Drew & Napier, art gallery Ode to Art, and cryptocurrency exchange Coinhako, aims to raise S$250,000 (US$186,000) for the NTUC-U Care Fund, which assists lower-income union members and their families.
The event will feature public figures, influencers, and even a member of the Brunei royal family. Yang Amat Mulia Pengiran Anak Hamlatul Arsy Mulia, HRH Prince Haji Sufri Bolkiah’s daughter, Singapore’s Speaker of Parliament Tan Chuan-Jin, and NFT influencer Mai Fujimoto have all agreed to donate NFT artwork for the auction.
The public can contribute NFTs for the auction or participate in the event by visiting the website www.singaporenft.org.
NFTs, which are one-of-a-kind digital assets whose authenticity and ownership are tracked on a blockchain, have captured mainstream attention and experienced rapid growth in the last year. According to DappRadar, total NFT sales volumes surpassed $5 billion in August. Trading volumes have since dipped from all-time highs.