Non-fungible token auction aims to raise money for Magic Breakfast
What is supposed to be the world’s first non-fungible token (NFT) auction for an advertising campaign is taking place this week (August 2 – August 8), in support of Magic Breakfast.
London-based creative advertising agency Ekstasy started the NFT auction to support Magic Breakfast, and believes it is the first to raise money for a charity in this way. The winning bidder will receive a campaign created by Ekstasy which consists of television, digital out-of-home and radio advertising. The NFT advertising campaign, made up of three assets (30s TV, 10s digital signage and 30s radio advertising), is auctioned via Opensea.io.
The NFT assets ran as commercials from July 17-20, with the 30-second commercial airing on Sky News, the 30-second radio commercial airing on Virgin and Talk radio stations, and the DOOH 10-second commercial airing at Westfield in Shepherd’s Bush, London.
The funds raised through the sale of the NFTs created by Ekstasy will allow the charity to continue working on its mission that no child is too hungry to learn, with Magic Breakfast a cause close to the heart of the founder and CEO of ‘Ekstasy, Mike Saraswat. He faced food insecurity during his first year of college and found that his learning was affected by the lack of food.
“The dreams of so many young children are hampered by a lack of good meals, especially breakfast, which we know helps children focus during class and get the most out of their education. Magic Breakfast is a fantastic charity, and I am delighted to help them fundraise and raise awareness for their cause using NFT’s new medium. Technology has beneficial potential if used with the right intention.
Emily Wilkie, Manager of Fundraising at Magic Breakfast added:
“A healthy breakfast can have a transformative effect on a hungry child’s ability to learn and enjoy their mornings at school. The money raised through the auction will allow Magic Breakfast to reach even more children at risk of hunger in the morning and ensure that no child in our partner schools is too hungry to learn.
What is an NFT?
A non-fungible token (NFT) is used to assign ownership of a digital asset using the blockchain. The asset can be anything digital like an audio track, video, photo, or video game. Because digital files are easy to copy, a unique digital token is created (an NFT), which essentially acts as a digital certificate of ownership of that item that can be bought and sold. A record of ownership is kept on the blockchain.
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