Vogue lists NFTs on OpenSea to raise funds for humanitarian aid
Vogue Singapore has partnered with Vogue Ukraine to list a NFT (non-fungible token) collection on NFT marketplace, OpenSea, to raise funds for humanitarian relief efforts in Ukraine.
The 'Fashion for Peace' collection is curated by six Ukrainian fashion designers showcasing the nation’s culture through artworks, photographs and illustrations. Each NFT will be available in 50 editions at 0.5ETH each and will be available for purchase on 15 March, from 8am EST.
All proceeds from primary sales will go toward non-profit organisation, Save The Children Ukraine, with royalties from secondary sales also be donated to the charity.
Vogue Singapore and @VogueUkraine present an NFT collection by six designers and artists from Ukraine, with all proceeds going to Save The Children Ukraine.
The sale goes live @opensea on 8pm SGT/8am EST tonight.https://t.co/BjDlycvTX8
— Vogue Singapore (@voguesingapore) March 15, 2022
Ukraine has reportedly received various crypto donations worth over £59.6 million ($78 million), as more donations and fundraising campaigns are using cryptocurrency as a medium amid the freeze on traditional banking institutions and infrastructures. Smart contracts attached to NFTs also ensure that the royalty from each secondary sale goes directly to the charity as well.
Bettina Von Schlippe, Publisher of Vogue Singapore, told Forkast: "With digital fashion and fashion NFTs they are a lot more accessible to a larger audience and having them on the blockchain allows the user to authenticate its origin and value. This in turn reduces the barrier to participate, purchase and donate to a charity.
"With limitations presented by banks and charities to donate funds from overseas to help those in Ukraine, blockchain and crypto appeared as the seamless solution by charities and organisations that are looking to fundraise for the people of Ukraine."