- Auction to kick off from 4th October 2021 and funds raised will go towards the NTUC-U Care Fund, supporting various assistance programmes, including helping families defray their cost of living and their children’s school expenses, as well as caring for the elderly.
- The event will also see personal contributions by public figures including Speaker of Parliament, Mr Tan Chuan-Jin, and NFT influencers such Yang Amat Mulia Pengiran Anak Hamlatul Arsy Mulia, daughter of HRH Prince Haji Sufri Bolkiah and Miss Mai Fujimoto.
Singapore, 16 September 2021 – Blockchain Association Singapore (BAS) and the National Trades Union Congress (NTUC) U Care Fund today announced Singapore’s inaugural Non-Fungible Token (NFT) charity auction event, ‘Blockchain For Good’. The auction will take place over a week in Singapore, from 4th October 2021 to 10th October 2021.
Supported by key collaborators including Singapore Airlines, KrisShop, Amazon Web Services Inc., Drew & Napier, Aleta Planet, Nexia TS, Ode to Art, Coinhako and RegTank, Blockchain For Good aims to raise funds for the NTUC-U Care Fund, with a target of S$250,000 set for this first auction. The NTUC-U Care Fund is the charity arm of NTUC that aims to better the welfare of lower-income union members and their families. Funds raised will go toward supporting various assistance programmes, including helping families defray their cost of living and their children’s school expenses, as well as caring for the elderly.
Members of the public who are interested in contributing their NFTs for the auction, or wish to support the event can do so through an NFT platform hosted by BAS at www.singaporenft.org.
The event will also see personal contributions by public figures such as Speaker of Parliament, Mr Tan Chuan-Jin, and NFT influencers such as Miss Mai Fujimoto and Yang Amat Mulia Pengiran Anak Hamlatul Arsy Mulia, daughter of HRH Prince Haji Sufri Bolkiah, who have pledged their support for the event and will contribute NFT artwork for auction. Global NFT experts and artists have also been invited to share their knowledge and expertise with participants throughout the event.
According to the Q1 2021 report by NonFungible.com, sales of NFTs rose to more than US$2 billion in the first quarter of 2021, eclipsing that of the previous quarter, which reported over US$93 million worth of sales. NFTs have seen a rise in popularity in recent times, dominated by the arts and collectibles segments. Celebrities such as Lewis Capaldi and Lindsay Lohan have also launched their own NFTs, contributing to the rapid rise in the popularity of NFTs around the world.
Commenting on the charity event, Mr Chia Hock Lai, Co-Chairman of BAS, said, “This charity event is an exciting moment for the Republic. We are honoured to be able to leverage our expertise and network to contribute to such a noble cause. The possibilities that blockchain technology provides us seems limitless, and we are fully behind utilising blockchain and NFTs to support Singapore’s first NFT charity auction.”
Mr Zainal Sapari, NTUC Assistant Director-General and Director of NTUC Care and Share Department, said, “We are happy to collaborate with industry associations such as BAS as part of our fundraising efforts this year to help our lower-income members and their families, who may need an additional boost to tide through these difficult times. It is our first time doing an NFT charity auction; and I hope, this new and unique initiative will pique the interest of corporates and individuals to come on board through similar means for us to make it a sustainable fundraising effort for a worthy cause.”
For more information about Blockchain For Good, please visit www.singaporeblockchain.org/blockchainforgood.
About Blockchain Association Singapore
The Blockchain Association Singapore (BAS) seeks to empower its members and the community to leverage blockchain and scalable technologies for business growth and transformation. The Association is designed to be an effective platform for members to engage with multiple stakeholders – both regional and international – to discover solutions and promote best practices in a collaborative, open, and transparent manner.
It aims to promote blockchain literacy and build a strong talent pipeline for the digital economy in Singapore. BAS also aims to accelerate the development of blockchain companies operating in or entering into Singapore, and their subsequent integration and acceleration into the Singapore blockchain ecosystem.
For more information, please visit https://singaporeblockchain.org/
About NTUC-U Care Fund
The NTUC-U Care Fund was established in 2009 to consolidate the Labour Movement’s fundraising efforts to better the welfare of lower-income union members and their families. Through the collective efforts of the NTUC-affiliated unions, association and social enterprises, together with management and tripartite partners, $113 million has been disbursed since 2009 to help workers affected by the economic downturn and fund our assistance programmes. Since its inception, the NTUC-U Care Fund has strived to make a difference in the lives of its lower-income members and their families by helping them to lessen their financial burden.
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 A Non-Fungible Token is a digital asset that represents digital or real-world objects like art, music, in-game items and videos. They are bought and sold online.