Singapore-Food Bank Singapore (FBSG) is stepping into the world of non-fungible tokens (NFTs) to raise money for families struggling to get food to the table.
Food charity mascot KooriMo was created or created in three art NFTs for auction.
NFTs are cryptocurrency assets that record ownership of digital files such as images, videos, and text.
Celebrating its 10th anniversary, FBSG aims to raise $ 12 million for its banking card program this year.
This will provide 10,000 beneficiaries with a prepaid card that allows them to redeem free meals for one year.
Beneficiaries receive a monthly charge of $ 100 on their cards. This card can be used at various restaurants and over 60 vending machines that sell food and daily necessities here.
Approximately 150 stores, including Encik Tan and some subway stores, are participating in the program, with the goal of roped 1,000 stores by the end of this year.
FBSG also accepts donations of cryptocurrencies in various coins such as ether and bitcoin. For more information, please visit https: //foodbank.sg/donate-2.
Nicole Ng, co-founder of FBSG, said these donations are currently not tax deductible due to the difficulty of converting cryptocurrencies to dollars.
The Art NFT Auction will be held from Thursday to Sunday (April 21st to 24th) at the NFT Marketplace OpenSea.
The three artworks are drawn by artists from the multimedia design studio Smobler Studios. The studio has also been appointed as a charity metaverse architect.
A Canadian-based studio that owns Cobbleland in the sandbox (currently one of the largest Metaverses) signed a charity deal with charity at the Mahako Cafe in Fusionopolis on Thursday (April 21st).
Plans are underway to build Koori Land and other Metaverse assets that can be sold here to raise funds to support the charity’s mission to end food insecurity.
The charity has also worked with the cryptocurrency platform Coinhako, which is regulated by the Monetary Authority of Singapore (MAS), to build a secure platform for accepting cryptocurrency donations.
FBSG works with a network of more than 300 organizations, including homes, soup kitchens, family service centers, voluntary welfare organizations, religious groups, and schools with children from low-income families. Since its inception in 2012, it has provided fresh, cooked food to more than 100,000 families and more than 300,000 people.