Students develop NFT line to help Ukraine and other causes
A group of Canyon Crest Academy students are releasing an NFT collection to support humanitarian efforts, such as supporting Ukraine in its continuing battle against Russian forces, for a business class project.
As part of the class project, student groups have to launch their own businesses.
“We’re all advocates of technological innovation, that’s something we’re passionate about,” said Ethan Chang, the chief executive officer of a group that created the Dofi Dolphins, an NFT collection of astronaut dolphins set to be released on April 1.
NFTs, the acronym commonly used to refer to non-fungible tokens, can include media such as photo, video and audio. They can’t be replicated, so their owners have a unique piece of digital content.
The Dofi Dolphins is a collection under Dofi DAO (decentralized autonomous organization), an organization dedicated to aiding in humanitarian efforts, according to a news release from the students.
The students said that the Dolphins collection is meant to raise awareness to those affected by the Ukraine-Russia conflict.
“Obviously NFTs are a growing market, and we wanted to use NFTs as a way to connect people,” Andrew Nguyen, the group’s chief financial officer.
One-hundred percent of initial sales go toward Ukrainian charities and businesses, and every NFT includes voting rights over where to send pooled donations.
“We are specifically looking at people who are already invested in the cryptocurrency business or the NFT business, or people who obviously think the crisis in Ukraine is terrible, but probably don’t have a strong incentive to donate or do something about it,” said Vincent Li, the group’s chief operating officer.
The students also said their business model can pioneer a new model for charitable giving.
“Marketing has been a big passion for me, so I was really excited to help market NFTs and raise awareness for Ukraine,” Ishan Desphande, the group’s chief marketing officer.
For more information, visit opensea.io/collection/dofidolphins.
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