Blockchain Association Singapore (BAS) and Singapore’s National Trades Union Congress (NTUC) U Care Fund today announced their inaugural non-fungible token (NFT) charity auction event, Blockchain For Good, which will take place Oct. 4 to 10.

Fast facts

  • The charity initiative — supported by a wide range of companies including Singapore Airlines, Amazon Web Services Inc., law firm Drew & Napier, art gallery Ode to Art, and cryptocurrency exchange Coinhako —aims to raise S$250,000 (US$186,000) for the NTUC-U Care Fund to help lower-income union members and their families.
  • Public figures, influencers and even a member of the Brunei royal family will be participating in the event. Yang Amat Mulia Pengiran Anak Hamlatul Arsy Mulia, daughter of HRH Prince Haji Sufri Bolkiah, Singapore’s Speaker of Parliament Tan Chuan-Jin, and NFT influencer Mai Fujimoto have committed to contribute NFT artwork for the auction.
  • Members of the public can contribute their NFTs for the auction or participate in the event via website
  • NFTs, unique digital assets whose authenticity and ownership are tracked on a blockchain, have captured mainstream attention and seen phenomenal growth over the past year. Total NFT sales volumes in August surpassed US$5 billion, according to DappRadar. Trading volumes have since softened from their record highs.

See related article: Riding the NFT trend: questions to consider before investing in these hot digital assets