Sustainable NFT charity for 17 UN SDGs

In her monthly expert column, Selva Ozelli, international tax lawyer and CPA, deals with the interface between new technologies and sustainability and offers the latest tax developments, AML / CFT regulation and regulatory issues affecting cryptocurrencies and blockchain.

The United Nations General Assembly (UNGA) will hold its 76th annual session September 14-30 to bring nations together at a critical time to take joint action to address the pandemic.

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On the eve of the UNGA meeting, the latest report by the Intergovernmental Committee on Climate Change shows that ambitious climate protection measures are now urgently needed – especially since the publication of the “Country-Defined Contributions in the Paris Agreement. The Secretariat’s combined report “shows the world is falling short of the Nationally Set Contributions (NDCs) to tackling climate change under the Paris Agreement.

In addition, the top 200 medical journals in the world have published a joint statement calling on world leaders to reduce greenhouse gas emissions in order to curb climate change, which they believe is the greatest threat to public health (Sustainable Development Goals 3 and 13).

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A sustainable post-pandemic green recovery plan requires understanding the links between climate change, health and inequality; and implement ambitious climate change policies in line with the Paris Agreement. The United Nations’ 17 Sustainable Development Goals (SDGs) are a call for action by all nations and people to promote prosperity while protecting the planet. More important than ever, these goals provide an important framework for a green recovery from COVID-19.

Unusable Token and Blockchain Technology (NFT) was instrumental in funding these goals for 2021 – set by the United Nations General Assembly for the “International Year of the Bright Economy.” Created for Sustainable Development, ”declared communicable COVID-19 variants amid the worst forest fire season ever.

COVID-19: Arts and Blockchain Charities

The COVID-19 pandemic has caused both a public health crisis and an economic crisis. The pandemic has disrupted lives, marginalized hospital systems, and sparked a global recession, resulting in a combined loss of more than $ 1.7 billion for the U.S. arts and culture industries alone.

According to X4Impact – a company that provides advisory, research, and data insights for social innovation in the United States – more than 457,000 U.S. nonprofits have collectively funded approximately $ 2.9 billion and continue to see growing demand for theirs Services compared to a significant drop in income. The extent to which the coronavirus affected the U.S. charity sector is not known.

Realizing the urgent need for funding for charities and artists as well as COVID-19 (SDG 3) victims, Bundeep Rangar – CEO of PremFina, an alternative insurance-backed finance company in the UK’s first venture capital fund – told me, “Last June, Art & Co hosted its first Blockchain-powered charity art auction. The auction process, tracking of proceeds and distribution of proceeds to charities were tracked by LuxTag Blockchain / NEM. ”

Since June 2020, when I hosted the first digital art exhibition inspired by climate change and COVID-19 (SDGs 3 and 13), NFTs and blockchain technology have gradually penetrated the world of art and philanthropy, enabling artists and museums to share their Monetize work and continue to receive payments for their work even after the sale.

Related: Digitize charity: We can make charity better

COVID-19: Museums and Blockchains

Areas hardest hit by the pandemic include museums, which play an important role in raising awareness about climate change (SDG 13) and providing reliable information (SDG 4). With all museums in the United States essentially closed, these institutions have suffered enormous financial losses while incurring the cost of digitization in order to survive and remain open to the public during this time.

Diane Drubay – founder of We Are Museums and NFT miner on the Hic Et Nunc platform that exhibited at DoinGud’s first Origin Expo – told me, “I see clean blockchains like Tezos as a great opportunity for museums. Low-carbon currencies and markets offer easy, fair and ethical access to blockchain and NFTs, shifting the industry out of the energy-intensive, proprietary and monetized space described by the media. She continued:

“We are still in the educational phase where museums need to develop blockchain skills in order to understand their full potential.”

“But when they do it, they find great opportunities to reach a new creative and young audience willing to get involved in targeted projects, share collections,” she explains her practice through creative, interactive and immersive processes as well new own models. self-supporting. ”

In fact, the NFT has changed the game for digital artists and museums by bringing them new income opportunities that they will receive during the COVID-19 pandemic lockdowns.

Related: NFTs are a game changer for independent artists and musicians

In August, NFT sales volume on OpenSea – the largest market for unavailable tokens – rose to $ 4 billion, followed by a bearish correction in September. But there was an upsurge in work.

Earlier this month, the Russian Hermitage Museum, the world’s largest art collection, in partnership with Binance NFTs NFT marketplace, sold several masterpieces to meet a crisis-induced budget shortage of a Leonardo da Vinci work for US $ 440,000 Dollar. The Metropolitan Museum of Art in New York, the largest art museum in the United States, is expected to sell 219 prints and photographs to make up for $ 150 million in lost revenue, according to Artnet News.

Drubay pointed out that she, along with other NFT artists, will be launching a new sustainable blockchain-based platform called alterHEN on September 30th, which she believes is a living laboratory for models, collecting, selling and exhibiting art.

Charity, Sustainable NFT for 17 UN SDGs

Twitter CEO Jack Dorsey sold his first tweet as an NFT for $ 2.9 million and donated the proceeds in Bitcoin (BTC) to GiveDirectly, a charity that sends money to families in Africa affected by the COVID-19 pandemic (SDG 3) are affected. Bids are processed on a sustainable platform called Valuables, which enables people to submit offers on Tweets that are “signed by their original creators.”

Other sustainable token platforms where artists can mint NFTs and display and sell their creations to raise awareness in the context of the United Nations’ 17 SDG Goals are DigitalArt4Climate, the Enjin NFT and DoinGud platform, on the I am launching my first NFT, Recovery, Commissions at the very first Origins Show – with my NFT sales donated to organizations that focus on SDGs at charities around the world.

DoinGud Co-Founder Manu Alzuru told me, “DoinGud’s blockchain-based marketplace and social media are designed to facilitate philanthropy through NFT sales to authoring organizations. Social promotions have been tested at the discretion of the creator. This will lead to increasing opportunities To support charities that deserve to gradually share the 17 United Nations Sustainable Development Goals such as ending world hunger, combating climate change, etc. ”

William Quigley – a crypto investor, co-founder of the global asset blockchain platform NFT eXchange (WAX) and co-founder of the first fiat-powered stablecoin tether (USDT) – told me about the initiative and 14. The company – which is an environmentally friendly blockchain for NFTs, Video Games and Collectibles – has released a new collection of NFTs “Carbon” Offset vIRL “. As Quigley put it, “For every dollar ‘composted’ in WAX’s sustainability-focused collection, the National Forest Foundation will plant a sapling, each of which will offset an average of one tonne of transparent carbon dioxide lifetime. WAX officially sets higher standards for accountability across the blockchain. We have worked tirelessly to ensure that our blockchain is both energy efficient and inspires our community to act for the environment. With Carbon Offset vIRL® NFTs, we are confident that together we can all make a big and positive difference. ”

Related: Prioritizing people over profits through NFT

On the other hand, Cryptograph is the first luxury and famous NFT auction platform that uses blockchain technology to …

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