NFTs to be used for philanthropy by the Argentine Masonic Grand Lodge | The Financial Express

NFTs to be used for philanthropy by the Argentine Masonic Grand Lodge

According to Cointelegraph, it is the reportedly the first NFT project to be backed by a local Grand Lodge, which refers to the governing entity of a given freemasons group with regard to a certain region

NFTs to be used for philanthropy by the Argentine Masonic Grand Lodge
Reportedly, profits from sale proceeds of CryptoMason NFTs will be diverted towards a local orphanage, a youth development center and an immigration rights center in Argentina

The Argentine Grand Lodge of Free and Accepted Masons is aiming to explore the non-fungible tokens (NFTs) space but with the aim to conduct philanthropy through its usage. The secretive society will be releasing 77 digital art NFTs, titled CryptoMasons, for their profits to be sent back to local charities, as reported by Cointelegraph.

According to Cointelegraph, it is the reportedly the first NFT project to be backed by a local Grand Lodge, which refers to the governing entity of a given freemasons group with regard to a certain region. While this project is from Argentina, there are reportedly hundreds of these entities existant globally. 

On the basis of information by Cointelegraph, the collection has esoteric images of the Masonic history and lore such as black and white checkered floors and the square and compass emblem. It is believed that even the given number of 77 NFTs present correlates with a numeral in regard to occultist traditions and spirituality. The website for the collection has claimed that the organisation is making use of this collection to contribute towards philanthropy.  

Moreover, Cointelegraph noted that this is another NFT collection using the combination of Web3.0 technology and utility for philanthropic purposes. Usage of digital assets have expanded from things such as raising funds for victims of the Ukraine conflict to micro-donations patronage for classical music. Profits from sale proceeds of CryptoMason NFTs will be diverted towards a local orphanage, a youth development center and an immigration rights center in Argentina. With regard to the country’s cryptocurrency adoption, Argentina’s Mendoza province have started to accept cryptocurrency for taxes and administrative fees, while Binance and Mastercard has unveiled prepaid cryptocurrency cards in Argentina. As per insights from Triple-A, close to 5.18% of Argentina’s population own a kind of cryptocurrency, which is over 2.4 million people.

(With insights from Cointelegraph)

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