With 2021’s Art Basel Miami and NFTs at the forefront of everyone’s minds, Giving Tuesday happens to dovetail this year with several ongoing trends in the art world that could develop into lasting change. According to new reports, The Giving Block, a crypto donation platform that’s been around for three years, has launched an upcoming event in conjunction with Giving Tuesday called NFTuesday that’s being promoted as the “biggest NFT charity auction.” Since NFTs are still so new to the general public, there’s a lot of confusion surrounding what they can be used for; however, combining NFTs with the tried and true art world practice of philanthropy could help solidify their continual use.
Augmented reality and NFTs are already tried and true avenues for innovative artistic expression: Art Basel Miami is packed this year with projects like the SuperRare RAREWORLD exhibition, and auction houses have been working overtime to produce sales and digital galleries devoted to the blockchain-enabled tokens. Now comes the step in the process of NFT acceptance where giving back is beginning to be prioritized. Also on Giving Tuesday, the NFT ecosystem DoinGud announced the launch of a new platform devoted to artists from the women-lead studio H+ Creative.
“We are just scratching the surface on NFTs’ potential to empower communities, nonprofits and social causes,” said Manu Alzuru, the founder of DoinGud, said in a statement. “The art world is experiencing a huge shift with digital creations. Creatives are quitting their jobs and building communities full time thanks to the rapid growth of the NFT market and DAOs.”
Plus, the data is encouraging. This summer, reports stated that $897 million in NFT sales took place in July and August during a 30 day period that ended on August 18. If this trend continues, there’s no limit to the kinds of charitable giving that could end up being possible within the industry.