NFT of Nelson Mandela’s Arrest Warrant Raises $130,000 – Metaverse Bitcoin News

Liliesleaf Museum History Site in South Africa recently raised $130,000 through the sale of a non-fungible token (NFT), which was created using a 1962 arrest warrant against Nelson Mandela.

Funding Museum Activities with Proceeds from the NFT Sales

A non-fungible token (NFT) minted from the former South African President Nelson Mandela’s warrant of arrest was recently auctioned for $130,000 (1.9 million rands), a report has said. The proceeds are expected to help bankroll Liliesleaf Museum Heritage Site, an organization that documents South Africa’s fight for freedom and democracy.

Bloomberg reported that Liliesleaf Museum and Heritage Site first received the original document in 2004. It was a donation. The warrant itself was issued in 1962 by South Africa’s then minority rulers after they accused Mandela of conspiring to overthrow the government.

After holding the document for nearly 18 years, Liliesleaf Museum Heritage Site has again raised funds using an NFT which depicts an object once associated with South Africa’s freedom fighters. The heritage site previously raised about $50,000 when it sold an NFT on a pen gun owned by Oliver Tambo, a South African freedom fighter. In both instances, Momint — a South African NFT marketplace — handled the auctions.

The Pivot towards NFTs

Ahren Posthumus (CEO of Momint), comments on the NFT auction. He is quoted in the report as explaining why museums have shifted to NFTs. He explained:

Musem sites remain afloat. Covid’s lack of tourist has had a devastating effect on them. This is an opportunity to revive their flow and preserve history.

In addition to museums, conservancies like the Black Rock Rhino have used proceeds from NFTs to pay for some of the sanctuary’s day-to-day expenses. One study found that NFTs have been increasingly popular among South Africans.

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Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, writer and author who has been awarded the Zimbabwe Booker Prize. His writings have covered the economic problems of several African countries and how digital currency can offer an escape route.