Key Ideas:
- As the most recent example of a for-profit company employing NFTs for charity, Kia's US division issued its first digital collectibles to generate money for a US nonprofit that helps to relieve overcrowded animal shelters.
- The NFTs, which go on sale in February 2022, include the robotic puppy from the previous year's Kia Super Bowl commercial.
- Digital collectibles that were $20.22 each sold out on the same day, earning $100,000. A number of more expensive and rare NFTs were also a part of the six-figure fundraising drive.
The US subsidiary of Kia launched its first digital collectibles earlier this year to generate money for a US nonprofit that helps alleviate overcrowded animal shelters, becoming the most recent example of a for-profit company employing NFTs for charitable purposes.
The results are in now. The automaker raised $100,000 for the charity The Petfinder Foundation by auctioning off tens of thousands of NFTs with robotic puppies as the theme. Thanks to that amount plus an additional $500,000 in cash from Kia, the adoption fees for more than 22,000 animals in shelters have already been covered, the company said on Tuesday.
The NFTs, which go on sale in February 2022, include the robotic puppy from the previous year's Kia Super Bowl commercial. Thus, Kia became the latest automobile manufacturer to support the donation-via-digital-collectible model. Companies like Starbucks have raised funds for the imprisoned Silk Road founder by using NFTs to support humanitarian causes. Even the NFT vending machines in London have entered the fight.
This is what happened: originally, 10,000 supposedly "adoption pass" NFTs were claimed over the Tezos blockchain in a free mint. Then, a week later, an additional 10,000 produced versions went on sale in conjunction with the NBA All-Star Game on February 18.
The $20.22 per piece digital collectibles on the Sweet NFT marketplace sold out in one day, earning $100,000. A number of more expensive and rare NFTs were also a part of the six-figure fundraising drive.
When a Robo Dog is sold again, a provision in its clever contracts mandates that Petfinder be given a 10% creator royalty instead of Kia.
