As a result of the massive growth in popularity of Non-Fungible Tokens (NFTs), the digitized collectibles are now being used to raise funds for various projects, such as the Hollywood Sign. The landmark is auctioning off one of its wooden letters as a NFT, with the proceeds going to the Hollywood Sign Trust, a community organization that is responsible for the upkeep of the sign. The letter will be available for bidding in a NFT auction, with its current value tied in to the price of the digital token Ether. On top of that, the Amy Winehouse photo that was recently found in a defunct hard drive is also up for auction, once again as an NFT.
The Hollywood Sign, a photo of Amy Winehouse, and a handful of other historically significant items will be auctioned off as non-fungible tokens (NFTs) on the Ethereum blockchain this summer. The Hollywood Sign Trust, the organization which maintains the famous landmark, revealed in a press release that it will auction the property to the highest bidder on June 15, 2018, with bidding to open at $25,000. The announcement comes just one week after a photographer revealed that he will also auction off an image of the late British singer, songwriter, and pianist to the highest bidder, with bids to open at $7,500.
In an announcement that is sure to delight fans and collectors, the famous Hollywood sign has been confirmed as the next famous image to be turned into a Non-fungible token (NFT) via the Ethereum blockchain. The new digital replica of the Hollywood sign will be available as an ERC-721 token on the Ethereum blockchain, and is expected to go under the hammer for a minimum of ether 1000.. Read more about cryptocurrency prices and let us know what you think.The Hollywood. NFT tokens can be sold to raise funds, and two independent initiatives will now use proceeds from NFT auctions to fund charitable projects. The runners feature one of America’s most famous landmarks, the Hollywood sign, and a photo of late New York singer Amy Winehouse.
Hollywood sign is sold as NFT to raise money for charity
The Hollywood Sign, a world-famous landmark in the hills of Los Angeles, is being offered as a non-playable token (NFT) to raise money for charitable initiatives. NFT is launched by Sugar23, an emerging creative and management platform founded by Oscar-winning producer Michael Sugar. The company has partnered with the Hollywood Chamber of Commerce and is currently seeking an artist or director for a digital art project. The token will launch this summer, but no specific deadline has been set yet. Quoted by The Hollywood Reporter, Sugar said: As storytellers aware of the power of social influence, we want to explore all kinds of global opportunities and are encouraged by the potential of NFT to change the creative landscape. When we thought about what would be the most iconic occasion, we naturally thought of the most iconic image in the world – the Hollywood icon, he added. His team sees the project as an opportunity to do something good for the city of Los Angeles. And what better way than to raise money for those who need it most, according to the producer. Proceeds from the sale of the tokens will be used to fund various charitable activities of the Hollywood Chamber of Commerce. The organization addresses homelessness, education, diversity and inclusion through its Hollywood Chamber Community Foundation.
Sale of NFT to Amy Winehouse to support musicians fighting addiction
Another charity initiative involving a cultural icon and a digital token was launched by Musicares. A non-profit organization that helps musicians with financial problems, health issues and artists in need of rehabilitation has created a unique photo of late British singer Amy Winehouse as an NFT. The photo, taken by Charles Moriarty, shows Amy in a phone booth in New York. It was presented by artist Mark Palkoski. The digital illustration is accompanied by a limited edition print of the original painting, signed by Moriarty. Charles captured Amy with a fresh face, full of life and fun, I really appreciate these photos, said Janice Winehouse, Amy’s mother, in a press release. The Hollywood. The token is available on the Opensea trading platform until the 30th. May listed with a reserve price of 3 ETH, which is equivalent to about $8,400 at the time of writing. It is also available on Mandolin’s concert streaming platform. All proceeds from the auction will go to Musicares and the Amy Winehouse Foundation and will be used to support musicians struggling with mental health, addiction and substance abuse. Amy Winehouse has struggled with drug and alcohol addiction. The Grammy Award-winning singer died on the 23rd. July 2011 at the age of only 27 from alcohol poisoning. The introduction of NFT is part of the Back To Amy show and livestream on the 23rd. July, the tenth anniversary of his death. The exhibition will include representations of Amy’s legacy. What do you think about two initiatives that use NFT auctions to raise money for charities? Tell us what you think in the comments section below.
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addiction, amy winehouse, artists, auction, charity, health, hollywood, hollywood token, initiatives, launch, musicians, nft, nfts, photo, photography, projects, sale, singers, tokens Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.As part of its push to get mainstream recognition, the cryptocurrency industry has now gotten its first Bitcoin-related Hollywood Sign – it is made of NFTs. The sign is the latest in a series of products to represent Bitcoin by replicating Bitcoin creator Satoshi Nakamoto’s white-on-black vision. (The design is called the Nakamoto font, or NFT for short.) The most famous NFT is the Notorious B.I.G. album cover in the form of a Hollywood Walk of Fame star that is now inducted on the Walk of Fame.. Read more about bitcoin stock price and let us know what you think.
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