The Nelson Mandela Foundation (NMF) has embraced the use of non-fungible tokens (NFTs) as a means of raising funds for its endeavors, as reported in South Africa. NFTs are distinct digital assets that can serve as proof of ownership or authenticity for various digital items, including artwork, music, and collectibles. In collaboration with Glorious Digital, the NMF Digital Works marketplace is offering 1,918 NFTs valued at $1,000 (R19,000) each.
The sale of these NFTs, known as “Founder Memberships,” comes a decade after Nelson Mandela’s passing and represents a distinctive and memorable approach to honoring his legacy. Each membership includes a digital artwork featuring four photographs of Mandela taken by Andrew Zuckerman in 2007. The artwork depicts Mandela in 27 colors, symbolizing the 27 years he spent in prison during his fight against apartheid.
The objective of selling the 1,918 Founder Memberships is to raise $1.9 million (R37 million), which will support crucial initiatives such as feeding schemes and the provision of assistance to early childhood development centers.
Sailo Htang, CEO of the Nelson Mandela Foundation, expressed the organization’s commitment to reaching a broader base of supporters and emphasized the role of emerging technologies in achieving this goal. NFT technology is particularly appealing to NMF due to its cost-effectiveness, lack of intermediaries, transparency, and security, which together provide an efficient method of fundraising.
By becoming a digital patron, individuals have the opportunity to join a remarkable community of fellow patrons dedicated to championing the values of courage, empathy, collaboration, and building a better future, as embodied by Nelson Mandela.
In addition to the Founder Memberships, Glorious Digital has announced exclusive benefits for members, including receiving gifted digital artifacts from the collection, special invitations to Nelson Mandela Foundation events (both online and in-person), unique opportunities to engage in the Foundation’s activities and initiatives, access to a members-only portal featuring curated content, and being among the first to be informed about future limited-edition digital artworks from the Nelson Mandela Foundation.
Glorious Digital chose to utilize the CENZnet blockchain to create the NFTs, as it offers minimal transaction fees and has a relatively low environmental impact.
This move follows a successful auction in 2022 where an NFT version of an anti-apartheid icon and an arrest warrant for the former South African president raised $130,550. The proceeds from that auction supported a museum dedicated to preserving the history of South Africa’s anti-apartheid struggle.