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Local Hong Kong Firms Raise Funds for NGOs Through NFTs

Aaron Limbu   Jun 02, 2022 09:45 2 Min Read


   

Three local Hong Kong companies are raising funds for non-governmental organisations (NGOs) through non-fungible tokens (NFTs) to support green initiatives and sustainability.

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In its published introduction video clip, the joint effort from travel lifestyle brand Cathay; children's support concept The Hub Hong Kong; and Articoin - an innovative Green NFT platform - started with a painting contest titled "My Home in Sham Shui Po", which consisted of over 50 children and teenagers aged between 6 and 18. 

All of the paintings depict an interpretation of a local community- Sham Shui Po, and are now being sold as NFTs on Cathay's shopping platform - Cathay Shop - and Articoin's Proof-of-Capacity (PoC)2 Green NFT platform.

Josephine Leung, Executive Director at children's support concept The Hub Hong Kong, said, "the emergence of blockchain and NFTs offers our charity work a new perspective and possibility. And we are grateful to have two highly-regarded partners and supporters to make this happen together. All net funds raised from the campaign will go to support the much-needed education and development programs for underprivileged children at The Hub Hong Kong."

The energy source for minting these NFTs is environmentally friendly. Compared to the carbon footprint generated by traditional blockchain consensus algorithms, the Green NFT platform Articoin is backed by the more energy-friendly PoC mechanism, which reduces carbon emissions to a greater extent (2,600 times).

These NFTs have been released as limited editions, which can be bought with Asia Miles, cash or Miles Plus Cash on Cathay's shopping platform, Cathay Shop, and redeemed on Articoin. However, buyers can also purchase them directly through Articoin's platform by credit card and debit card.

Andy Wong, General Manager of Corporate Affairs at Cathay, said, "through these NFTs, we hope to provide an innovative new way for people to lend their support to the incredible charitable work being done to help the vulnerable in our community."


Image source: The Hub

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