A museum in South Africa, Liliesleaf Museum Heritage Site, recently raised USD 130,000 in an auction of a non-fungible token (NFT) of an arrest warrant issued against Nelson Mandela.
Money Raised from Nelson Mandela’s NFT to Fund Museum Activities
An NFT created from the warrant of arrest issued against Nelson Mandela in 1962 was sold for USD 130,000 (1.9 million Rands). The money will be directed at bankrolling Liliesleaf Museum Heritage Site, a respected organization working on fighting freedom and democracy in South Africa.
In a Bloomberg report, the museum received the document in 2004 as a donation. The warrant itself was issued back in 1962 when South Africa’s minority rulers accused Mandela of planning to overthrow the government.
After storing the document for about 18 years, Liliesleaf Museum Heritage Site has again raised funds through NFTs associated with freedom fighters. Before the auction, the organization had received USD 50,000 after auctioning NFTs of a pen, which was owned by Oliver Tambo, a respected freedom fighter in South Africa. The two NFT auctions were handled by Momint, a South African Based NFT marketplace.
The Leverage to Non Fungible Tokens (NFTs)
When commenting on the sale, Ahren Posthumus, the CEO of Momint, was quoted indicating why museums are becoming crucial leverages for NTFs. According to Ahren, museums have been impacted severely by a lack of visitors because of COVID-19, and this is an excellent way to keep them alive.
Conservancies, such as Black Rock Rhino, have also referred to proceeds from NFTs to meet their expenses. The leverage to NFTs by charitable organizations comes on the backdrop of one of the studies that suggested more South Africans are increasingly interested in NFTs.
- Suggested Reading: Instagram to Start Incorporating Non-Fungible Tokens (NFTs)