In 2021, over $40 billion of NFTs changed hands, marking a 20X increase from 2022, thrusting NFTs into the limelight, demonstrating the use cases of yet another blockchain innovation. NFTs bear similarities with cryptocurrencies in that both deploys from a public chain and their transactions are open and, thus, can be traced.
However, beyond transparency and launching from public chains, NFTs are unique, limited in supply, and in recent times being used as a store-of-value in stormy crypto market conditions. Because they are unique and valuable, projects can use NFTs to raise funds for charities and advance other causes people hold close to their hearts.
The Mosque NFTs on Ethereum
The Mosque NFTs project is a special charity project on the Ethereum blockchain planning to mint 12,000 unique hand-drawn NFTs on some of the world’s most famous mosques. The launching on Ethereum is tactical considering the network’s popularity and compatibility with MetaMask, a free non-custodial wallet for users to store their prized acquisitions.
The creators of the NFT projects are tapping on the increasing interest in NFTs and the advantages offered by the underlying technologies. Like cryptocurrencies which cut out intermediaries allowing for the free flow of value, helping promote financial inclusion, and improving people’s living standards, NFTs have broad applications. They have emerged as effective media for raising awareness and spreading messages about topics for users globally. By simply supporting a charity project using NFTs as a vehicle to raise funds while also receiving rare and valuable digital assets, it becomes incredibly easy for people to support causes they hold close to their hearts.
NFT and Blockchain Technologies are Shariah Compliant
The Mosque NFTs project plans to distribute 12,000 unique NFTs of the world’s famous mosques to interested users on Ethereum. Proceeds will be used for charity and building a mosque.
Meanwhile, the project creators will use the opportunity to highlight the various injustices people face because of their religion. This way, they would destroy divisive stereotypes and relieve victims’ suffering. Crucially, the project demonstrates that emerging technologies like NFTs and cryptocurrencies can be leveraged to support people in need.
Already, blockchain, cryptocurrencies, and NFTs are mostly accepted as Shariah-compliant, mainly if they are applied to directly improve lives and alleviate pain or suffering, like when used in charities. Over 1.8 billion Islamic followers are free to participate in the mint, owning any of the 12,000 unique NFTs, supporting a worthy cause in the process.
Supporting Worthy Causes
Users who want to advance The Mosque NFTs objectives can participate in the upcoming auction on March 29, 2022. The project will mint the first unique and special NFTs, availing them for auction from a floor price of 1 ETH. Pricing was based on the community’s feedback and considers what lies ahead—helping people and building mosques.
Fifty percent of NFT sales will be funneled to more than ten charity funds, including Helping the Burmese Delta, the Mohammed bin Rashid Al Maktoum Knowledge Foundation, the One Ummah, and Mila 4 Africa. At the same time, users would be free to choose a foundation or charity that they want to make donations to, perfectly aligning with the overarching objective of The Mosque NFTs creators.
Rewarding The Mosque NFTs Community
NFTs will be minted in six phases. At each stage, a user—or participants—who mint the most NFTs stands to win a branded watch from the project’s partner, “Jacob & Co”– a jewelry and watch brand founded in 1986 by Jacob Arabo–a diamond designer. At the same time, a user who mints the Kaaba Mosque—the main sanctuary of Islam—will receive a $500k offer from the team after the NFT auction concludes.
This post was originally published on www.newsbtc.com