Singapore Development Council is Giving Out NFTs to the Less Privileged
Each NFT will provide lifetime access to lifestyle services offered by more than 100 participating outlets in Singapore.
Singapore's South East CDC is leveraging NFTs for a noble cause
Thanks to rapid adoption, NFTs are now finding application in goodwill and charitable endeavors as well. On October 5th, The South East Community Development Council (South East CDC) in Singapore announced plans to distribute NFTs to benefit the less privileged.
In partnership with local Web3 company LifesDAO, the Council will give out NFTs worth $60,000 to vulnerable people over 10 years. To be exact, 120 vulnerable individual and their families in the South East District will be the recipients of these NFTs. And with them, they can access LifesDAO's network of over 100 merchant outlets across Singapore.
Based on a report by The Edge, the LifesDAO NFTs are designed to grant its holders lifetime access to lifestyle services from participating outlets. These services include traditional Chinese medicine, physiotherapy, fitness classes, and hair salons.
In the first year of this program, those enrolled in social programs like Filos Community Services can access these NFTs, with a total value of $6,000. The South East CDC previously completed a 1-month trial of this program before deciding on a longer rollout.
"It is the first time we are social brokering through NFTs to provide services for the vulnerable in our community," said Fahmi Aliman, mayor of South East District. "We are heartened to have such meaningful partnerships, initiatives like this serve as a part of our mission to strengthen social infrastructure in our community by identifying and addressing the different needs of our residents."
Commenting on the noble cause, LifesDAO co-founder and CTO Pulse Tan said: “LifesDAO NFTs are designed to grant its holders lifetime access to lifestyle services from participating merchant outlets in Singapore."
Tan added: "Blockchain technology should not only enrich the lives of those who can afford it but also especially enrich the lives of vulnerable families in our community. This partnership with South East CDC has allowed us to fulfill our mission to defray the cost of living at all levels of society."