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NFT Charity Auction of Digital Collectibles Benefits Blankets of Hope

Cryptocurrency Dec 24, 2021 02:00PM ET
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NFT Charity Auction of Digital Collectibles Benefits Blankets of Hope

For the first time in NFT’s history, there will be a massive humanitarian event on Christmas Eve this noon. In order to raise money for the Brooklyn-based Blankets of Hope, a non-profit organization founded six years ago by brothers Nick and Mike Fiorito, the Right-Click, Give! the charity auction is being held. Each blanket is accompanied by a handwritten letter from the pupils.

A 25-year-old man named Mike Fiorito claims he and his younger brother are “addicted” to collecting NFTs. “After purchasing our first one, we got completely obsessed. As soon as we arrived at NFT, we were struck by how welcome and friendly everyone was.”

According to Fiorito, to reach their “dream number,” organizers want to generate $250 Wrapped ETH, or $1 million, from the auction and contributions. The current bidding is 50 ETH (about US$200,000), according to him. As of Thursday afternoon, VeeFriends’ Gracious Grasshopper had the highest offer of 8.5 Wrapped ETH (US$34,569.25) in the collection of works on the block.

Related: London Project Announces the World's First New Year's Eve restaurant NFT

Buffett, Warren Buffett’s granddaughter and a painter and NFT artist, says she is pleased with the items up for auction. The company I am in is first-rate. It is all about “redefining how we generate plenty for ourselves and each other,” she argues, in the spirit of the crypto sector. To put it another way, “It is about sharing the wealth.”

NFT Spirit Coin is a “mandala” symbolizing how energy and people come together, according to the woman who received it from billionaire investor Warren Buffett. When it comes to NFT tokens, interest increases as quickly as Santa Claus is going up a chimney. An industry survey from market tracker DappRadar found that NFT sales jumped to more than US$10.7 billion in the third quarter of 2021.

Read Also: Baron Davies Announces Launch of First “Black Santa” Holiday NFT Drop

The auction has tax ramifications, just like any other charity donation. However, according to Fiorito, a “very foggy area” exists when it comes to contributing NFTs, and the donors and bidders are not anticipating a tax-deductible gift.

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NFT Charity Auction of Digital Collectibles Benefits Blankets of Hope
 

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