A charity art exhibition organized by non-fungible token (NFT) artist Trevor Jones generated over $130,000 to benefit cancer patients in Scotland. Jones, an acclaimed crypto artist from Edinburgh, hosted the event at an annual Web3 gathering in France.
The proceeds, amounting to 114,000 British pounds (nearly $140,000), went to Maggie’s Edinburgh, an institution providing free cancer support and treatment. Maggie’s said the donation from Jones’ NFT art fundraiser broke the record for the highest single contribution in its 27-year history.
Thirty artists participated in the exhibition staged at Château de Vallery near Paris during the Castle Party hosted by the web3 social club Friends With Benefits. All funds raised will offer vital assistance to local cancer patients and families through Maggie’s Edinburgh.
Jones hailed the support from NFT communities
Jones hailed the enormous outpouring of support from the NFT and cryptocurrency communities that made the record donation possible. He said the event demonstrated the positive real-world impact emerging digital art and technology can provide.
The fundraiser exemplified the growing charitable involvement of NFT creators and owners. Since non-fungible tokens gained mainstream traction in 2021, the community has increasingly mobilized to fund causes ranging from mental health to refugee aid.
Last year, the Federal Election Commission approved political campaigns using NFTs for fundraising. Major brands like Coca-Cola have also held NFT auctions to support philanthropic organizations and nonprofits.
Jones said the Edinburgh exhibition showed the tangible good that NFT innovation enables. As adoption increases, the budding space’s generosity has expanded in scope alongside its profits and popularity.
Still, skeptics continue questioning the value and sustainability of largely unregulated NFT markets. But charitable giving directly addresses criticism by transparently funneling resources to reputable organizations.
As the NFT ecosystem evolves, expect philanthropy to remain instrumental in reshaping perceptions, driving adoption, and fulfilling promoter promises to enrich society. Mandated contributions could someday formalize charity’s already vital role.