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These days, NFTs are increasingly being applied to goodwill and philanthropy. These typically take the form of assets that are sold to raise funds for non-commercial purposes. Currently, the South East Community Development Council (South East CDC) of Singapore Utilization of NFTs To benefit the underprivileged.
This is done by distributing NFTs to vulnerable people for 10 years. During that time, the NFTs distributed will be worth $60,000.
NFTs are distributed by LifesDAO, a local web3 company. 120 vulnerable people and their families will become recipients of these his NFTs, giving them access to his LifesDAO network of over 100 merchants. These merchants include services such as hairstyling and traditional medicine.
Enrolled in the first year of this program social program Like Filos Community Services, these NFTs will be accessible and worth $6,000. Southeast CDC had previously completed his month-long trial of the program before deciding on a longer rollout.
The idea behind this program is to use NFTs to improve the lives of citizens.
“This is the first time we are social brokering through NFTs to serve vulnerable people in our community. We are thrilled to have such a meaningful partnership.said Fahmi Aliman, mayor of the south-east district.
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*All investment/financial opinions expressed by NFT Plaza are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.
