Syed Saddiq’s first NFT collection to raise charitable funds through NFT4HOPE – Wired PR Lifestyle Story

If you’ve ever thought, “Boy, I’m sure I want to own Syed Saddiq’s facial art, and I want it as an NFT,” we have the news for you.

On a more serious note, however, he has collaborated with a charity called by the Muarre MP NFT4HOPE To release an NFT collection called Muar Sejiwa.

According to him and NFT4HOPE, the purpose of this fundraiser is to raise funds for flood victims nationwide. The funds will be used for a variety of welfare initiatives such as providing food devices and educational devices such as laptops / tablets to provide access to education for low-income earners.

There are currently 3 main types of Syed Saddiq NFT in the collection available. NFT marketplace OpenSea: 1 Ultra Rare (called Metamorphosis), 10 Super Rare and 20 Rare.

None of them have a fixed price, so it seems that interested buyers will have to bid for a piece. Metamorphosis is currently priced at 0.05 ETH (about RM664.40) at the time of writing an offer.

Behind the canvas

These Saddiq paintings were created by a contemporary Malaysian artist, Jaee Tee. He is well acquainted with media such as oil, acrylic, Chinese ink, coal, and so on.

To create a metamorphosis, he digitized an oil painting with Saddiq before adding digital effects to create something that looked like an evolving gif.

On her website, she writes that she specializes in using textures to create strong emotional content, especially the feeling of tension between her work and the viewer.

NFT4HOPE framework

NFT4HOPE is a publisher of digital collections for individuals and organizations to make money from their intellectual property, but each NFT issuer will look at the impact that projects can have.

In the site’s own words, each NFT will only be created “if their intention is to have a great impact on the common good in the world”.

There are no clear criteria for how each NFT submitted is judged, so it is difficult to say what kind of impact NFT4HOPE wants to have.

Larger image

The current main goal is to have a positive impact on the victims of the flood, but behind this move is Saddiq’s greater ambition to secure another fundraising strategy for the Muar district in the long run.

Saddiq and his group appear to have been quite active in the charity efforts on the ground, with the recent donation of the Malaysian United Democratic Alliance (MUDA) amounting to more than RM2 million for the floods.

All in all, something Saddiq has also voted for is a lack of federal support or a long wait, which is why NFT is seeking fundraising as a change in the method they need.

Examining the Muar Sejiwa collection minter in OpenSea, it seems that there is also a Muar Sejiwa V2 collection, but it is not clear if it is a subcategory of the first collection.

Other important figures who will be collaborating with NFT4HOPE to create the collections are Shafie Apdal, former Minister of Sabah, and Deborah Henry, TV presenter and co-founder of the social enterprise. Fugee School.

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NFTs used for charitable purposes are not a new concept, in some cases earlier KitaJaga app doing just that in the local scene.

But there are still some questions about the project:

1. Will NFT4HOPE cover the operating costs of each transaction, and if so, how much would it be?
2. Will the allocation of funds be transparent to the public?
3. What security measures are in place to protect the funds raised?
4. Are issued NFTs inspected? If not, will there be a plan to inspect them to make sure there are no loopholes?

Personally, I find the use of NFTs in charity still a strange concept to understand. I think anyone who wants to donate to charity can do so in return without expecting anything in return.

Perhaps the use of NFTs for charity is aimed at a different audience, which is not usually encouraged to make a donation unless there is an incentive to do so.

In a way, this can grow a Malaysian charity community and, in some cases, encourage some donors to donate more money to a good cause.

(Some may argue that the environmental costs of NFTs undermine the good intentions behind charitable NFT projects, but that is another potential article).

• You can learn more about NFT4HOPE here.
• Read more articles related to NFT here.

Featured Image Credit: Syed Saddiq / NFT4HOPE