Cryptocurrency

Nelson Mandela’s Arrest Warrant NFT Sold for 1.9 Million Rand

The Non-Fungible Token (NFT) created from Nelson Mandela‘s original arrest warrant was auctioned for 1.9 million Rand or $130,000 to help fund Liliesleaf Museum Heritage Site, the museum that documents South Africa’s struggle for democracy.

Momint, a South African online marketplace for Non-Fungible Tokens (NFTs), that created the NFT and sells other Mandela items said the proceeds from the auction will help keep the Heritage site afloat, Ahren Posthumus, chief executive officer of Momint stated.

Liliesleaf Museum received the original arrest warrant as a donation in 2004. However, COVID-19 restrictions and slowdown in growth have crippled the Museum revenue generation, forcing Momint to improvise on revenue generation.

During his interview, Posthumus explained that the fund will help the “museum sites stay afloat”. “They have been badly affected by the lack of tourism due to Covid. So this is a way to revitalize their flow and keep history alive.”

Nelson Mandela, the first South African black president and anti-apartheid activist, was arrested in 1962 and imprisoned for 27 years for conspiring to overthrow the White-minority government.

NFT market capitalisation rose from just $95 million in 2020 to $24.9 billion in 2021, according to DappRadar. While unique active wallets — a proxy for users — rose to 2.7 million in 2021, and 49% of those users were NFT games lovers. OpenSea is the world’s largest NFT marketplace.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Discordant Tunes Greet 50% Tariff Hike As Subscribers Threaten To Sue NCC

Nigerians have expressed displeasure over the decision of the Nigerian Communications Commission to increase tariffs…

2 hours ago

Beatrice Ekweremadu Returns to Nigeria After Serving Sentence in UK

Mrs. Beatrice Ekweremadu, wife of former Deputy Senate President Senator Ike Ekweremadu, has reportedly returned…

2 hours ago

Nigeria Expands Refining Capacity with MRO Energy’s Delta State Refinery

The Federal Government has taken another step toward boosting Nigeria’s refining capacity with the approval…

2 hours ago

Eko DisCo Set for Transformation as Transgrid Enerco Signs Historic 60% Acquisition Agreement

Transgrid Enerco Limited has signed a Share Purchase Agreement (SPA) to acquire a 60% equity…

3 hours ago

Metering Gap Exceeds 7 Million Despite Multilateral Loans and Government Funds

Despite interventions by the Federal Government and multilateral lenders amounting to over N1.5 trillion, Nigeria’s…

3 hours ago

Petrol Prices Surge to N990 in Abuja, N960 in Lagos as Oil Tops $80 Per Barrel

The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol at…

4 hours ago