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News Report

Enjin to Tokenize Celebrity Art as a Fundraising Mechanism

2 mins
Updated by Ryan Smith

In Brief

  • Enjin is partnering with Kizuna and Miss Bitcoin to launch Japan's first non-fungible token (NFT).
  • The initiative plans to raise over 200,000 Japanese yen for DxP, an NPO for Covid-related issues.
  • 2021 is likely the year of NFTs.
  • promo

Popular social gaming website, Enjin has partnered with popular blockchain entrepreneur, Miss Bitcoin to launch a non-fungible token (NFT) charity program.

The charity program, which is the first of its kind in Japan, will launch through Kizuna, a hub for bitcoin donations with no handling fees. 

The first campaign of the charity program will involve tokenized art created by Japanese artists. Funds raised from the campaign will be directed to the Dream Possibility (DxP), a non-profit organization providing help for teenagers facing coronavirus-related issues. 

The sale is expected to fetch over 200,000 Japanese yen (~$20,000). Notable figures will likely participate in the initiative, however, their names have not yet been released. 

The NFT charity project is based on the Japanese concept called ‘Sanpo Yoshi,’ a satisfaction of three parties. Enjin CEO Maxim Blagov commented on the partnership:

“Art tokenization is another great example of how blockchain can automate the sale and fulfillment of high-value assets. While traditional art can take years to sell, it can be minted, listed, sold, and distributed within minutes via the blockchain.”

According to Blagov, compared to traditional art which can take years before finding a seller, art tokens can be minted, sold, and distributed within minutes. 

Non-Fungible Tokens 

Non-fungible tokens (NFTs) are a particular type of crypto token that cannot be exchanged for other assets. Each NFT is unique due to how they are coded in the smart contract.

They are used to prove ownership of digital assets. NFTs exist mostly on Ethereum, NEO, and other blockchains that enable smart-contracts. 

DxP founder Noriaki Imai expressed her excitement in the future of NFT’s:

“This is my first time being involved in an NFT program. I strongly believe in the potential of cryptocurrency to change people’s lives, and I feel very honored for DxP to be part of this initiative and benefit from the application of blockchain technology.”

2021 the Year for Enjin & Non-Fungible Tokens? 

Enjin appears to be investing heavily in the NFT space. The project recently partnered with gaming icon Atari to integrate NFT’s and digital collectibles.

It seems that every year in crypto brings with it a potentially more disruptive technology. As interest in NFTs surge, this will likely be a space to keep your sights on. 


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