NFTs will be Dispersed by the Singapore Development Council as a Gesture of Goodwill.
NFTs are now being used more and more in charitable and goodwill endeavors. These typically take the form of selling assets to raise money for charitable causes. Currently, Singapore’s South East Community Development Council (South East CDC) is using NFTs to help the less fortunate.
“We are socially bridging for the first time through NFTs to offer services to the most vulnerable members of our community. We are encouraged to have such significant partnerships; projects like these support our mission to improve social infrastructure in our neighborhood by determining and meeting the various needs of the people who live there, said Fahmi Aliman, the mayor of South East District.
LifesDAO, a regional web3 business, will distribute the NFTs. These NFTs will be given to 120 vulnerable people and their families, who will then be able to use them to shop at any of the more than 100 merchants in the LifesDAO network. These businesses offer services like hair styling and conventional medicine.
People who are registered in social programs such as Filos Community Services in the first year of this program may access these NFTs, which will have a value of $6,000 each. Prior to deciding to extend the program’s rollout, the South East CDC ran a 1-month trial of it.
According to those who are behind the program, the goal is to use NFTs to improve citizens’ quality of life.
This is accomplished over a ten-year period by giving NFT distributions to vulnerable individuals. The NFTs that will be distributed during that time will be worth $60,000 in total.
