The Sydney Children’s Hospital Foundation is mobilising the power of blockchain non-fungible tokens to seek awareness, reach and impact amid the fast evolving global communications space.
The fundraising event auctioned off non-fungible token (NFT) art by renowned Australian digital artist Tim Meyer, who goes by the moniker, Hipworth, raising thousands for charity.
NFTs are blockchain based tokens representing a unique digital item – in this case a piece of art – which allow people to buy and sell ownership.
Commissioned by Foundation partner, Independent Reserve, Hipworth’s NFT art piece is titled ‘QUEEN.’
As the digital and real life communications spaces continue to coalesce, Daniel Chu, CEO and co-founder of MakersPlace says NFTs are becoming an increasingly powerful tool for organisations to seek reach and impact.
“We believe as the NFT space continues to develop we will see more and more artists and foundations using NFTs as a tool to give back to our communities,” says Chu.
In March 2021, an NFT titled “Everydays” by the digital artist Beeple sold for $US69 million at a Christie’s auction, making it the third most expensive piece of art ever sold by a living artist.
Australians are not strangers to the idea of raising money for charity through crypto donations and NFT auctions. In March 2020, an NFT race car for the videogame F1 Delta Time was sold for 51 wrapped ether blockchain tokens to assist relief efforts for the catastrophic bushfires of mid 2019.
Adrian Przelozny, CEO of Independent Reserve says the Foundation’s involvement highlights the growing popularity and utility of cryptocurrencies, and digital assets more broadly.
“The Sydney Children’s Hospital Foundation Gold committee has taken a forward-looking move in accepting donations in crypto, and choosing to auction this beautiful and digitally-unique NFT artwork, which underscores the commitment of the Sydney Children’s Hospital to technology and innovation,” says Przelozny.