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    QONEQT in NFT Updates

    01-Sep-2022 12:50 PM


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    SIGNIFTY BELIEVES NFTS CAN EFFECT SOCIAL GOOD WITH THE HELP OF THE GREAT AND GOOD

    Up until now, speculation and status have been the primary use cases for non-fungible tokens. But one startup believes it’s found an untapped application for NFTs that treats them as more than speculative tokens. Signifty insists there’s a place for NFTs within the philanthropic sector, where they can be leveraged to raise money for charitable causes, from environmental projects to humanitarian initiatives.

    For this vision to materialize, Signifty needs the help of the great and the good: celebrities, whose sprinkling of stardust will transform the humble NFT into a vehicle for effecting positive change.

    Art Meets Heart
    The concept Signifty is pinning its platform on goes like this. Celebrities have philanthropic causes that are close to their heart. NFTs have an ability to form passionate communities around shared interests. Signifty wants to channel fan power into a potent force for social change through the use of ‘Missions.’ These are celeb-fronted campaigns approved by the project’s Good Deeds Center, which creates an NFT collection around the concept, with funds routed to the charitable cause.

    For example, imagine Popstar X wants to conserve Javan rhinos, an endangered species in the Ujung Kulon National Park. Custom content in the form of audio, video, art, signature, letter, or personal item from the star is digitalized by Signifty, turned into an NFT collection, and then made available to the public. The Mission will detail fundraising targets, what can be achieved with the proceeds, and how the NFT drop will proceed.

    Rules for participation will also be enacted; the event may be whitelisted, and take the form of an auction or a fixed price sale. If everything goes as planned, the funding target is reached, the fans get a piece of Popstar X in the form of exclusive NFTs, and the Ujung Kulon National Park gets funds to conserve the Javan rhinos. Everything’s tracked on-chain, ensuring full transparency, and everyone benefits.

    The beauty of the system is that participants can get involved for very different reasons, be it altruistic, speculative, or a mild obsession with Popstar X, but all parties will emerge with something to show for their efforts, and the endangered rhinos will live to forage another day.
    Source: NFTNewsToday.com

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