CharityStars, the innovative Italian charity fundraising platform where companies, celebrities, and individuals come together to support charitable causes through the sale of unique experiences or memorabilia, has auctioned off a digital work for $63,000. The artwork sold is Rebirth #19/100 by Beeple, which belongs to the artist’s recent release “BEEPLE: SPRING/SUMMER COLLECTION 2021″.
With this operation, CharityStars enters fully into the market of the sale of NFT (Non Fungible Token) and digital art certified through blockchain. In this way, the platform intends to bring closer to the market of NFT more and more people who can find in digital art a new niche from which to draw to enrich their personal collection. As a confirmation of CharityStars’ entry into the NFT market, the platform has dedicated a special section on the site where important NFT works by prominent artists, such as Damien Hirst and Bored Ape Kennel Club, will soon be auctioned.
This release by the American artist featured 11 works available in multiple editions, some of them even in 100 pieces. Beeple is a graphic designer considered to be the most well-known and successful digital artist to date, best known for his work Everydays: The First 5000 Days, which sold at auction by Christie’s for $69.3 million in March 2021. This is the fourth-highest price ever paid at an auction or private sale for a work of art by an artist still alive at the time of the sale.
As with every auction completed on CharityStars, Rebirth #19/100 will have a portion of the proceeds donated to a non-profit organization. It is Adopt The Arts, a U.S. nonprofit co-founded in 2012 by Matt Sorum, former Guns N’ Roses and Velvet Revolver drummer, Abby Berman, entrepreneur and activist, and actress Jane Lynch, in response to large budget cuts to arts and music education in Los Angeles district elementary schools.
Domenico Gravagno, CEO of CharityStars, commented, “This first NFT auction far exceeded our expectations in terms of the final auction price of the work and our entry into the blockchain-certified digital art industry. CharityStars has always been a keen observer of all that through technological innovation can help expand our possibilities to offer our partners new ways of fundraising to support their charitable projects.”
Read more on the subject and find the latest finance news in the world with our companion app, Born2Invest.
CharityStars is not a crowdfunding platform in the traditional sense
It’s actually an online auction site, where anyone can purchase an heirloom that belonged to a sports or entertainment star or attend an event or evening in their company. The proceeds go to the non-profit organization that auctioned the item or event. The company has offices in Italy, the United Kingdom and the United States, and has worked with hundreds of national and international celebrities, supporting more than 500 nonprofits worldwide, in favor of which more than $35 million has been raised.
The startup, founded in June 2013 by Francesco Nazari Fusetti, Manuela Ravalli, and Domenico Gravagno, had raised $415,000 (€360,000) by winning the first edition of the 360by360 Competition organized by venture capital firm 360 Capital Partners. In July 2015, CharityStars raised $820,000 (€710,000) from six new private investors (Leopoldo Seralvo, Federico Nordio, Niccolò Ragnini, Luca Carrante, former Inter vice president Angelomario Moratti and Gilda Moratti) and also obtained a $335,000 (€290,000) loan from Unicredit, for a total of one million euros of new finance.
In January 2018, CharityStars had launched the cryptocurrency AidCoin. Its ICO (Initial Coin Offering) raised in 90 minutes as much as $16 million from over 1,500 supporters, thus reaching the target of 14,333 Ether, after the 8,333 (about $4 million) already placed in the previous November during the pre-sale phase.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Crowdfunding buzz, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Trusters and Leone Investments Finally Receive Approval Under EU Regulation
After almost a month under the new EU Regulation, two platforms, including the historic Trusters launched in 2018 and the...
Coinbase Wallet Has a New Feature: Send Crypto via Web Link
The exciting part is actually in the small print: This is because Coinbase covers the fees for transactions via stablecoin...
Sanofi Reaches an Agreement with Aqemia for $140 Million in Generative AI
Paris-based Aqemia will receive upfront and milestone payments under the deal that will be used to deepen R&D. In addition,...
Burkina Faso and the United Nations Review the Achievements of the Peacebuilding Fund
Eligible since 2017, Burkina Faso has already benefited from the fund's support through the financing of various projects to the...
Malta Approves Three New Cannabis Clubs and Holds First Harm Reduction Training Sessions
According to Malta's rules on cannabis clubs, only the societies listed on the ARUC website can grow and distribute cannabis...
Crowdfunding1 week ago
f2o Sports Announced that Its Crowdfunding Campaign Has Started
Biotech1 day ago
Aspen Pharmacare Buys Sandoz’s Business in China for Over €90 Million
Crowdfunding2 weeks ago
E-Pop-Cycle Folding Bike at a Better Price via Crowdfunding
Fintech1 week ago
Why the Amounts Invested in Belgian Fintech Companies Decreased