The non-fungible token (NFT) sci-fi trading card game Parallel will be auctioning off a single edition NFT and giving all the proceeds to the online learning platform Khan Academy.
“Auctions are a tried and true way to raise money for nonprofits, but this is the first time we've been the beneficiary of an NFT auction,” Khan Academy tweeted on Tuesday. The auction will start on Wednesday, January 19 at 5 p.m. EST and end at the same time on Friday the 21st.
More organizations have opted to use NFTs for charitable purposes within the last year, what with the department store Macy’s donating a portion of its Thanksgiving-themed NFT sales to the Make-A-Wish Foundation and the NFT project Bored Ape Yacht Club giving $850,000 to an orangutan protection charity. The trend seems to be continuing into 2022.
Charitable organizations received over $2.4 million in crypto donations in 2021, according to The Giving Block, an organization that gives non-profits the tools to accept crypto donations.