LA Wildfires Ethereum NFT Benefit Project Features Art From CryptoPunks Creator
Analysis
Price Impact
LowThe nft drop is a relatively small-scale charity event. while it may bring some short-term attention to eth, it is unlikely to significantly affect the overall market price.
Trustworthiness
MedPrice Direction
NeutralThe event is unlikely to cause a major bullish or bearish shift in eth price. the amount of eth involved is small in relation to the overall market.
Time Effect
ShortAny price impact will likely be short-lived, confined to the period of the nft sale and potentially a few days thereafter.
Original Article:
Article Content:
Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENE A charity NFT project launched Friday from notable artists in the Web3 world, letting minters purchase digital art while supporting families affected by the Los Angeles wildfires, with all proceeds going to a local nonprofit providing emergency supplies to those in need. The "I Heart LA" collection , curated by Web3 fashion startup mmERCH, features digital artwork from seven prominent artists: CryptoPunks creator Larva Labs, Grant Yun, CrypToadz creator Gremplin, Nice Aunties, Chikai, ClownVamp, and Goyong. Anyone who mints one of the Ethereum NFTs will randomly receive one of the seven new works. The pieces will be available for purchase from January 17-19 at 0.0069 ETH or nearly $24. The collection is available to purchase via highlight.xyz . mmERCH 🤍 LA in response to the devastating wildfires that have impacted LA, we’ve collaborated with seven acclaimed digital artists to launch the ‘I ❤️ LA’ NFT collection in an effort to raise vital funds 100% of proceeds will be donated to Baby2Baby’s relief efforts Open… pic.twitter.com/85MtqEOCVZ — mmERCH (@mmERCH) January 17, 2025 All proceeds will benefit Baby2Baby, a nonprofit organization that has already distributed more than 3 million emergency supplies, including diapers, formula, food, and hygiene products, to displaced families in the Los Angeles area. "It's impossible to not be affected by what's happening in Los Angeles," said Colby Mugrabi, founder and CEO of mmERCH, in a statement. "Just amongst our team we have dozens of friends, collaborators, and colleagues who have been directly impacted by this sequence of horrific events, with their lives and livelihoods turned upside down overnight." "We quickly realized that there was an opportunity to harness the power of digital assets and blockchain technology to have a direct and immediate impact on fundraising efforts," Mugrabi added. Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Get it! Get it!