$12.3 Million of NFTs Donated in 2021

$12.3 Million of NFTs Donated in 2021

According to an annual report by The Giving Block, the total yearly crypto donations in 2021 soared over 15X compared to 2020. On average, it was observed that the average crypto donation stood at $10,455 as opposed to cash donation at $128.

Researchers further suggested that NFTs would be a significant development in the donation landscape, projecting based on the number of participants contributing using rare and valuable NFTs and support from some of the world’s most popular NFT projects like the Bored Ape Yacht Club (BAYC).

By the report’s findings, individuals and projects donated slightly over $12 million of NFTs in 2021 alone.In the same vein, The Mosque NFT project plans to use funding from the sale of the 12,000 NFTs to power their charity program and build mosques.

Concurrently, their objective will be to highlight the injustices people face because of their religion and how such stereotypes can be broken. Furthermore, their use of NFTs and Ethereum is sufficient proof that emerging technologies are widely acceptable in Islam, with over 1.8 billion followers worldwide.

The first NFTs will be minted from March 29, 2022, with a floor price of 1 ETH. The floor price was at this price in light of the project’s objective of specifically raising funds to advance their charitable causes and build mosques.