Non-fungible tokens are non-fungible digital assets, such as artwork in the form of a photo or video. Connecting to a blockchain such as Ethereum ensures that it cannot be copied. NFT technology is on everyone’s lips right now and it is turning various industries upside down. Sometimes it’s the art market, where artists suddenly have new digital distribution channels to reach a global audience with their art, according to a statement.
The charity NFT auction is also breaking new ground on an international level
With the insurance industry’s first NFT charity, online insurance company Smile now wants to gain first-hand experience with the exciting technology. On the one hand, testing possible solutions to future risks in the digital space; On the other hand, to enable the community to do good and support the current drinking water project in Africa in an innovative way with charitable partner Viva from Agua. Not only in Switzerland, but also internationally, Smile is one of the first companies ever NFT auction with the community Executed exclusively for The Sustainability Project.
Collaboration with influencer Zaki and Zurich artist Oibel
The Smile NFT auction starts on Thursday open c, the largest NFT marketplace, and runs for nearly three weeks, until June 19, 2022. NFT Artworks was developed with smile influencer Zaki and Zurich artist Oibel. Oibel has Ugandan roots and has been working with Viva con Agua since 2015. Zaki is the new brand ambassador for Viva con Agua and the face of the first NFT charity. It will use its social media communities to bring attention to the auction. Four different types of artwork are sold in editions of 1 to 100. The unique piece will be auctioned at a starting price of 400 francs. Other variants cost between 20 and 200 francs, depending on the version. The money raised goes entirely to that New drinking water project From Viva con Agua in Uganda.
New donations with every NFT resale – thanks to the smart contract
With the NFT auction, Smile is making its first experiments with smart contracts. These are a type of self-fulfilling digital contract based on blockchain technology. The terms of the agreement between the seller and the buyer are written directly into lines of code and executed automatically. In the case of the NFT auction, Smile has stipulated that every time a Smile NFT is resold, five percent of the sale price will automatically be donated to Viva con Agua.
“Not only are NFTs exciting for gaming or collecting digital assets, but they also have great potential to raise money for a good cause. As a digital leader in the insurance industry, we are also stepping forward here and at the same time gaining valuable experience with new capabilities such as smart contracts for security in the digital space. As with each of our green commitments, technology is the enabler so that we can all as a society do something meaningful with sustainability in our everyday lives,” said the statement, Pierangelo Campobiano, CEO of Smile. (PD/mj)