Greyton House Village School in Greyton, a rural village about two hours drive from Cape Town, South Africa, created its first NFT collection in February 2022 and has already sold eight, with the latest NFT. It sells for $ 300 at an OpenSea. market.
According to the school’s principal, Marli Hoffman, NFTs are helping promote school scholarship programs.
At the time of this writing, 35 of the institutional students have already received full or partial scholarships and are raising funds each year.
100% of the money will be used to send the scholarship children to school.
Regarding the school initiative, Mary Hoffman, Principal of the Greyton House Village School, said:
The more NFTs we sell, the more children we can support with scholarships and the less waiting list for applications. Education is the only way to change the trajectory of poverty in our country from the bottom up.
– School Principal, Greyton House Village School
The school sells artwork created by their own students who have allowed these works to be sold for the cause.
Each piece is created using mixed media on paper before being digitized and cast in OpenSea. In addition, one of the parents of the school, who happens to be a blockchain developer, is helping to create artwork on the Opensea platform.
According to Hoffman, the first few pieces each cost $ 250, which was about 0.1 ETH at the time. This is the monthly tuition fee for one student at Greyton House.
The school will continue to add to the NFT collection. It also includes a 5% royalty cost for each NFT traded in the future.
“”Hopefully this will create a passive flow of funds for the scholarship program. “ Hoffman says.
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Recommended reading: Nelson Mandela Arrest Warrant NFTs sell for over $ 130,000 on the Momint NFT Marketplace
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