NFTs and Charities: What We Can Learn from the Chadwick Boseman NFT
After the tragic passing of Chadwick Boseman, many fans and artists were hoping to see him posthumously awarded the Oscar for Best Actor for his work in Ma Rainey’s Black Bottom. Anthony Hopkins won the award in a surprising upset, but Hollywood found another way to give Boseman a lasting tribute.
The Distinctive Assets company, which created the gift bags for the award show, commissioned a non-fungible token (NFT) to celebrate Boseman’s life. Andre O’Shea, the artist who created the NFT, said once the NFT would be auctioned on Rarible. 50% of the proceeds would be donated to the Colon Cancer Foundation, which aims to fight the disease that claimed Boseman’s life. While the news about the charitable NFT was celebrated by many people, some felt the artwork was a reminder of Boseman’s death rather than his life. Others critiqued the artwork for using a 3D model that was purchased from a marketplace, rather than an original piece of art.
How a Good Idea Could Be Better
DoinGud aims to create artwork that makes a positive social impact. It’s wonderful to see artists like O’Shea pledge to give a portion of the proceeds to causes that make a difference. Blockchain makes donations like these easier to achieve than ever before, because it allows donations to be programmably, automatically transferred to organizations that support causes creators care about. Since the blockchain is a public ledger, everyone can see how the funds flowed from the purchase of artwork to a social impact organization. This unparalleled amount of transparency allows buyers, creators, and organizations to know without a doubt their work had an impact.
The blockchain also has the ability to better safeguard artwork than the current Internet infrastructure. Have you ever tried to search for a website only to discover the page was erased? Web pages change, images are removed, and artwork can be lost forever when all of the content is stored on a centralized server. A centralized server has one access point, and if something is removed, nobody can access it again. The media of the NFT is stored in decentralized storage networks, which means there isn’t just one location for storing any meta-data. Multiple access points ensure that artwork is properly preserved. At DoinGud, we are also taking this one step further by building a future-proofed infrastructure which allows cross-chain provenance and interoperability. Artists will be able to store their NFTs on the blockchain and even move their creations to a different blockchain ecosystem.
Artists and creators need a supportive community to help them thrive. It takes many different talents — graphic design, 3D modelling, and animation — to make a single NFT. Right now, creators are spread out across different channels and marketplaces, which makes it difficult for them to come together to create a collaborative piece. Talented artists like O’Shea, along with 3D modelers, musicians, and other creatives need a common space to find each other and showcase their work. DoinGud is building that community as a core part of our platform.
The auction for the Chadwick Boseman NFT was delayed while O’Shea redesigned the artwork. When the NFT is listed on Rarible, the buy price is expected to exceed $1 million dollars which would yield a donation of over $500,000 to the Colon Cancer Foundation. This one NFT is a great example to brands, creators, and Hollywood about how NFTs can have a social impact when you unite artists with causes that they care about.
DoinGud is an NFT ecosystem focused on inspiring creativity and positive social impact. We pride ourselves on accessibility and sustainability, providing next-gen Web3 tools to empower our community to create, curate, collaborate, and connect with one another in the digital space.
Thank you so much for being part of this amazing journey with us.