The NFT frenzy has been the biggest talking point this year as many mainstream brands and celebrities have turned to the NFTs for promotion and auction. The latest to join the foray is United Nations but their focus is more towards bringing awareness around climate crisis than using it for just a promotional event.
United Nations announced a climate initiative called DigitalArt4 Climate that would convert the art pieces of the winner into an NFT. UN showcased the result of the art climate initiative at the United Nations Climate Change Conference held in Glasgow, Scotland. The UN-Habitat group partnered with Unique Network, IAAI GLOCHA, and Exquisite Workers to shape its NFT climate initiative.
“We are excited to show that the ethos of distributed ledger technologies and open data can be used to support change agents to be more empowered in identifying climate actions they can make,” said Alexander Mitrovich, CEO of Unique Network. “Unique Network is extremely proud to be collaborating with these key United Nations initiatives, the global body for challenging paradigms and ensuring equitability, for a just transition. We believe that the future of human expression will be through NFTs, and we are dedicated to showing the whole world how it can unite our disparate communities in the fight to save our planet.”
NFT Market Boom Takes Art to the Next Level
Non Fungible Tokens aka NFTs were first created in early 2012-13 mainly on the Bitcoin blockchain where people tokenized real-world assets using the decentralized tech. However, by 2017 NFTs became quite popular as fan tokens and major sports premier leagues started using them as a way to bring more fan interactions.
2021 proved to be a breakout moment for the NFT ecosystem as it became quite popular for digital artists, brands, celebrities, and even government agencies. Some of the early NFT collections have become the new collectible and have fetched millions for JPEG images.