[ad_1]
The carpet that the United Arab Emirates gave as a gift to the head of the Catholic Church a few years ago has been sold as an NFT. While the original remains in the Vatican, its figures say it has been successfully used to raise funds for the Afghan people.
NFTs for historical rugs sell for 25 Ethereum
Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan presented Pope Francis with a Pontifex rug during his visit to Vatican City. In September 2016, the two met to discuss strengthening diplomatic relations between the UAE and the Vatican and promoting interreligious harmony.
On Friday, a non-fungible token (NFT) on behalf of the rug sold for $25 Ethereum, close to $82,000, reports Dubai-based Khaleej Times.money up Through this sale, it will be used to support vulnerable families in Afghanistan during the cold winter months.
The head of the Catholic Church will keep physical versions of the rugs woven by Afghan women. Buyers of the NFT will receive a scaled-down replica of the original created by Zuleya, the retail arm of the Fatima Bint Mohamed Bin Zayed Initiative (body mass index).
The initiative was established in 2010 to change the harsh lives of women and children in Afghanistan. FBMI invests in healthcare, education and a range of social and economic reforms. It also provides employment opportunities in arts, crafts and agriculture.
Maywand Jabarkhyl, CEO of FBMI, described the NFT sale as a “critical step forward” for the plan. He detailed that this will allow his team to present their designs to a global audience and open up new revenue streams for local artisans in Afghanistan.
“This is probably the most iconic NFT sold in the Middle East,” said Musfir Khawaja, co-founder of the Nftone Marketplace in Dubai International Financial Centre, which lists NFTs. “Buyers will get a physical replica of the rug, as well as a gorgeous gold frame on a 165cm digital canvas with NFTs on it,” he explained.
The token is one of six works displayed on digital canvas at the Abu Dhabi Art Fair, along with some of the world’s best contemporary art, the report added. Zuleya has partnered with the Morrow Collective NFT platform to recreate the carpet as an NFT.
NFTs provide a unique way to copy digital files like photos, videos and audios and store them on the blockchain to prove their authenticity and ownership, it’s been around for a while, but their popularity is in 2020 Years began to grow. Reuters revealed that NFT sales will reach $25 billion in 2021.
Do you support the NFT scheme described in the article? Share your thoughts on the topic in the comments section below.
Image Source: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for reference only. It is not a direct offer or an invitation to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin Network Does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned herein.
[ad_2]
Source link
