NIFTIES has announced a curious initiative: an auction to win a Vitalik Buterin NFT.
Who will win the auction for @VitalikButerin first NFT on @cryptograph? Hurry up if you want make your bid, auction ends in less than 24 hours!!!
Check out the official launch statement here:⬇️https://t.co/l8eJFuB3uI#VitalikButerin #QuadraticFunding #NFTs #Ethereum #NIFTIES pic.twitter.com/Nds9CNCH4L
— NIFTIES (@NIFTIES_com) July 10, 2020
This is a promotional initiative linked to the launch of the new Cryptograph platform by Perpetual Altruism.
During the auction, collectors will have the opportunity to bid on original digital art creations featuring some of the best-known names in the crypto industry, starting with Ethereum co-founder Vitalik Buterin.
Among other things, July will celebrate the first five years of the Ethereum blockchain, founded in 2015, so the NIFTIES initiative has a twofold significance.
Vitalik’s Cryptograph, “Quadratic Funding“, is a hand-drawn representation of his revolutionary quadratic funding formula, an idea that could form the basis of a new infrastructure for the financing of public assets.
These Cryptographs are unique digital collectables created by world-renowned icons or artists to support charitable causes. Each Cryptograph is auctioned as an NFT, and can then be traded by collectors in the secondary marketplace of the platform to raise funds for charity each time it is traded.
Other well-known faces from the crypto industry who will take part in the initiative are Bitcoin.com president Roger Ver, CasperLabs researcher Vlad Zamfir, CEO of Shapeshift. com Erik Voorhees, AVA Labs CEO Emin Gun Sirer, Augur co-founder Jeremy Gardner, Coinfund founder Jake Brukhman, Universal Login founder Alex Van De Sande, This Week In Ethereum editor Evan Van Ness, Ethereum co-founder Mihai Alisie, MakerDAO founder Rune Christensen, Gitcoin.co founder Kevin Owocki and others.
In addition, by using smart contracts to process and automate all transactions in a secure and transparent environment, Cryptograph ensures that partners and creators will always get a share of the revenue not only from the initial auction, but also from each subsequent sale that occurs in the secondary market.
This model is intended to guarantee that the interests of all parties involved in the Cryptograph ecosystem remain aligned at all times, and that they are continuously incentivized to provide additional long-term value to the Cryptograph collector community.