Non-fungible tokens (NFTs) have become one of the most popular applications of blockchain technology, with billions of dollars in revenue expected by 2021.
ShapeShift DAO, a non-custodial cryptocurrency platform, has announced a new non-fungible token (NFT) auction to promote female artists in the NFT and blockchain industries, a group that is still underrepresented in the fast increasing digital economy.
Between April 4 and 11, the auction for "Block 495559—Crypto Kitties and the Great Hairball in the Tubes," a joint one-of-a-kind NFT series produced by female artist LunaHawk and ShapeShift DAO director GrayMachine, will take place on OpenSea.
The NFT series was minted on the Ethereum mainnet and will feature creative, animal-themed digital art that depicts the cryptocurrency market's history through numerous animals.
LunaHawk's 10-piece NFT series was authorized by ShapeShift DAO members in October 2021. The collection was first shown in February at the ETHDenver conference.
The NFT auction will be the first in a series that will begin in the "coming weeks and months," according to GrayMachine.
ShapeShift DAO intends to donate 10% of the earnings from the NFT to the Women of Crypto Art Fund, a community organization that encourages women in the digital art world. Giveth, a crypto-focused charitable financing platform, will be utilized to make the donations.
ShapeShift DAO said the auction will fund the requirements of the decentralized autonomous organization as it grows, in addition to encouraging women in blockchain.