The non-profit Al Jalila Health Foundation, based in the United Arab Emirates (UAE), on Monday announced the launch of its first set of non-fungible tokens (NFTs), to raise funds to support and advance medical research.
The collection of NFTs, called “A Footprint on Humanity,” designed by Emirati artist Maysoon Al Saleh, aims to raise awareness and raise funds for patients in the UAE who suffer from life-threatening diseases, according to the statement. Advertising.
Amer Al Zarooni, CEO of Al Jalila Foundation, said: “Our first set of non-fungible tokens aims to encourage our donor community to leave a positive impact on patients.” He added, “This initiative is part of our ongoing efforts to drive innovation within our fundraising channels, and to encourage donors around the world to support our healthcare programmes.”
The health organization agreed to receive charitable contributions in cryptocurrency last year, and the organization claimed to be the first in the UAE healthcare department to do so.
The set of NFTs consists of five non-fungible symbols, and each digital asset from that set features a letter symbolizing a specific issue, including cancer, diabetes, cardiovascular disease, mental health, and obesity.
All proceeds of the tokens sold, which are color-coded based on the cause they are intended for, will go towards supporting the efforts of Al Jalila Medical Foundation.
The aforementioned set of icons was unveiled for the first time at Art DAO, a festival dedicated to digital art and internet culture, organized by the Middle East-based Web 3.0 community Arts DAO. The pool of non-fungible tokens is also listed on OpenSea to be sold for Ethereum, and on the ftNFT marketplace for AED.
It should be noted that in the wake of the boom in the non-fungible token industry in 2021, the sector witnessed a dwindling in trading volume, which raised many questions about the feasibility of the new digital asset and prompted society to demand a new type of token with real interest, such as helping to create and develop projects that Serve social causes.
During the launch of the Al Jalila Foundation’s Non-Fungible Tokens (NFT) collection, Al Saleh urged artists to “use their creative talents to support charitable causes.”
Likewise, last year it was reported that popular non-fungible token artist Beeple raised $6 million for the OpenEarth Foundation, which “raises funds to develop innovative open-source digital infrastructure to work towards better governance of the planet.”
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