The Nelson Mandela Foundation (NMF), a non-profit founded by Mandela himself in 1999, announced earlier this week the launch of a non-fungible token (NFT) collection in collaboration with the NFT marketplace Glorius Digital. The collection consists of 1,918 NFTs, and the proceeds from their sales will go to the NMF.<\/p>\n
The Nelson Mandela Foundation teamed up with NFT studio Glorious Digital to launch a digital patronage program consisting of a collection of NFTs. The program, dubbed \u201cDigital Patronage,\u201d offers 1,918 NFTs, each priced at $1,000, for a total value of $1,918,000. The number of NFTs, 1918, honors Mandela\u2019s birth year.<\/p>\n
The rollout of Digital Patronage comes ten years after Mandela\u2019s death. The official launch date, May 10, is the same day that Mandela was inaugurated as South Africa\u2019s first president in 1994.<\/p>\n
\u201cEach patronage is presented with a unique digital artwork for members to display. Drawing on Nelson Mandela\u2019s personal archive held by the NMF, together with other authorized collections, Nelson Mandela: A Portrait in 27 Colours will commemorate the 27 years Nelson Mandela spent in prison fighting injustice in his country.\u201d<\/p>\n
\u2013 NMF and Glorius wrote in the announcement. <\/cite><\/p>\n The archival team of NMF and Glorius Digital will serve as facilitators and wardens of exclusive content and experiences for 1,918 founding members. Additionally, net proceeds secured from NFT sales will go to the foundation.<\/p>\n It may be surprising that NMF picked Glorious Digital to launch a project of this size. This is because Glorius is a small NFT marketplace compared to the bigwigs such as Opensea and Rarible.<\/p>\n In addition, the NFT studio uses a little-known blockchain CENNZ, which is far less established than major blockchain networks like Polygon, Avalanche, or Fantom. Even layer-2 chains such as Arbitrum and Optimism would be a more logical choice, some argued.<\/p>\n Another thing that raised questions was Glorus\u2019s Web3 wallet extension, which has been removed from the Chrome Web Store. NFTs bought via Glorius\u2019s platform cannot be sold without the extension, given that the firm\u2019s secondary marketplace does not support any other crypto wallet.<\/p>\n Tom Harper, CEO of Glorius Digital, said this is because the extension is being updated. He added that the updated version of the extension will be \u201cavailable for download within the week.\u201d<\/p>\n This article originally appeared on The Tokenist<\/i><\/p>\n Sponsored: Tips for Investing<\/b><\/p>\n A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.<\/p>\n Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses,\tconsider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.<\/p>\nDigital Patronage Raises Questions in the Crypto Community<\/h3>\n