NFTs have been worth over $40 Billion since 2022. This represents a 20X increase in NFTs from 2022. NFTs are now in the spotlight, showing the potential of another blockchain-based innovation. NFTs share similarities to cryptocurrencies because they both use a public blockchain and transactions can be tracked.
NFTs offer transparency, launching from public chain, are limited in supply, and can even be used to hold value in volatile crypto market conditions. Projects can make use of NFTs for fundraising and other purposes, as they have the uniqueness and value to be valuable.
Mosque NFTs on Ethereum
The Mosque NFTs project is a special charity project on the Ethereum blockchain planning to mint 12,000 unique hand-drawn NFTs on some of the world’s most famous mosques. The launching on Ethereum is tactical considering the network’s popularity and compatibility with MetaMask, a free non-custodial wallet for users to store their prized acquisitions.
NFT project creators are leveraging the growing interest in NFTs as well the benefits offered by the technology’s underlying technologies. Like cryptocurrencies which cut out intermediaries allowing for the free flow of value, helping promote financial inclusion, and improving people’s living standards, NFTs have broad applications. These media have proven to be effective in spreading information and raising awareness on topics that are important for all users. Supporting a charity using NFTs to raise funds and receiving valuable digital assets makes it easy to support causes close to your heart.
Shariah compliant NFT and Blockchain Technologies
The Mosque NFTs project plans to distribute 12,000 unique NFTs of the world’s famous mosques to interested users on Ethereum. All proceeds go to charity and the construction of a mosque.
In the meantime, project founders will make use of the chance to point out the injustices faced by people because they are religious. This way, they would destroy divisive stereotypes and relieve victims’ suffering. The project also demonstrates how emerging technologies such as NFTs or cryptocurrencies can be used to help people in crisis.
So far, NFTs, crypto, blockchain and cryptocurrencies are generally Shariah compliant. They are accepted if used to alleviate pain and suffering and improve the lives of people, such as when they are employed in charitable work. More than 1.8 million Islamic followers can participate in minting, and own any 12,000 unique NFTs. This will allow them to support worthy causes.
Giving back to worthy causes
The auction will take place on March 29, 2022 and is open to all users who are interested in helping The Mosque NFTs achieve its goals. This project will create the first special and unique NFTs. They will be available for auction starting at 1ETH. Pricing was based on the community’s feedback and considers what lies ahead—helping people and building mosques.
Half of all NFT sales will go to more than 10 charities funds including Helping the Burmese Delta (Mohammad bin Rashid Al Maktoum Knowledge Foundation), Mila 4 Africa and the One Ummah. Users would also be able to pick any charity or foundation they wish to donate to. This is in perfect alignment with The Mosque NFTs founders.
Recognizing the Mosque NFTs Community
In six stages, NFTs are minted. At each stage, a user—or participants—who mint the most NFTs stands to win a branded watch from the project’s partner, “Jacob & Co”– a jewelry and watch brand founded in 1986 by Jacob Arabo–a diamond designer. At the same time, a user who mints the Kaaba Mosque—the main sanctuary of Islam—will receive a $500k offer from the team after the NFT auction concludes.