The Singapore Development Council will issue NFTs for goodwill

More and more these days, NFTs are finding application in goodwill and charitable efforts. These usually take the form of assets being sold to raise funds for non-profit causes. Now, the South East Community Development Council (South East CDC) in Singapore. Using NFT To benefit the less privileged.

This is being done by distributing NFTs to vulnerable individuals over a period of 10 years. NFTs issued during that period will be worth $60,000

The NFTs will be distributed by LifesDAO, a local Web3 company. 120 vulnerable individuals and their families will be the recipients of these NFTs and with them, they will have access to LifesDAO’s network of over 100 merchants. These traders include services such as hair styling and traditional medicine.

Those who are registered in the first year of this program Social programs Filos can access these NFTs like Community Services, which will cost $6,000. The Southeast CDC previously completed a 1-month trial of the program before deciding on a longer rollout.

The idea behind this program, according to the people behind it, is to use NFTs to improve the lives of citizens.

“This is the first time we are doing social brokerage through NFT to provide services to the vulnerable in our community. We are delighted to have such meaningful partnerships, initiatives such as these serve as a part of our mission to strengthen the social infrastructure of our communities by identifying and addressing the diverse needs of our residents.“, said Fahmi Aliman, Mayor of South East District.

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*All investment/financial opinions published by NFT Plaza are derived from the personal research and experience of our site moderators and are intended as educational material only. Individuals should do thorough research on any product before making any type of investment.

Tokoni Ooty has written extensively on blockchain and cryptocurrency over the years. His work has appeared on sites such as BTCmanager and Blockchain Reporter. He has a degree in Corporate Communication.

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