Art Blocks NFTs Raised $23.5M For Charity in August 

Cash from the generative art work pieces goes to lawful causes. 

Key Takeaways

  • Art Blocks artists donated $23.5 million to charity in August.
  • Rich Lord’s Geometry Runners raised potentially the most money, donating over $3.4 million.
  • As unique generative art work continues to uncover larger and costs, the amount donated to charities can even lengthen.

Artists on the NFT platform Art Blocks include raised an estimated $23.5 million for charity in August by myself, placing the general funds raised by the project at over $26 million. 

Art Blocks Artists Donate

Question for on-chain art work is blowing up, and charities are reaping the advantages.

NFTs on the Art Blocks platform include collectively raised $23.5 million for charity over the final month. Compared, all Art Blocks initiatives launched within the three months prior ideal raised $2.3 million. 

A filled with 25 artists launched NFTs on the platform in August. Earlier than every project goes dwell, Art Blocks and the artist agree on what percentage of the funds raised will be donated to charity. For most initiatives, artists donate between 10 and 25% of the general sales of the art work. 

Curated project Geometry Runners, which launched Aug. 27, took the tip assign, donating over $3.4 million. The project’s artist, Rich Lord, split the money between the Recordsdata Know-how & Innovation Basis and the Coalition for Rainforest Nations.

Geometry Runners Art Blocks
An instance of Geometry Runners art work. Provide: OpenSea

Art Blocks initiatives are currently launched by a Dutch public sale structure, where the price to mint begins excessive and drops every 5 minutes till all pieces are sold. Alternatively, Geometry Runners sold out of all 1000 NFTs at the starting ticket of 5 ETH, with gasoline costs hovering as collectors scrambled to mint pieces from the highly-anticipated assortment. 

Other initiatives to purchase natty quantities for charity in August include Trossets by Anna Carreras and Beatboxes by Zeblocks.

Since its launch in November final year, Art Blocks has change into regarded as one of many premier locations for NFT art work collectors. Early initiatives equivalent to Chromie Squiggle and Ringers would be minted for 0.08 ETH at launch but can now promote for hundreds and hundreds of bucks on the secondary market. 

Art Blocks has since elevated the associated rate to mint pieces, with some initiatives now starting their Dutch auctions at an conception-watering 15 ETH. While such excessive starting bids would possibly perchance ticket out many doable investors, the consequence is lots extra money will get donated to charity, as used to be the case with Geometry Runners.

Disclaimer: On the time of penning this selection, the author owned BTC, ETH, and lots of different other cryptocurrencies. 

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