NFTs, the craze that soared last year on the wings of greed, may well be turning into a platform for good. Here’s another example of how they can help causes, this one by Sao Paulo agency, DAB, for G10 Favelas and Revitaliza Comunidades.
Paraisópolis, the capital’s second-largest slum, exists in the middle of towering buildings and upscale neighbourhoods of the southern area of São Paulo. It’s a striking symbol of social inequality and, on the other hand, an important cultural centre. With a never-ending expansion of new homes being built and a high population density, these neighborhoods suffer from neglect and underfunding, such as houses without plaster, exposed bricks, and more than one floor with unfinished slabs.
With this in mind, G10 Favelas, Revitaliza and DAB created the project, Colors of Favela, using the production and creation of special NFTs with local artists to raise funds to enable more than 500 homes in Paraisópolis to be plastered and coloured. The G10 of the Favelas is a group of social impact leaders and entrepreneurs of the favelas (slums) throughout the world. G10 Hub promotes social impact, business opportunities inside slum territories. Revitaliza Comunidades is a start-up connected to visual impact causes inside Paraisópolis and one of the initiatives of G10 Hub.
Colors Of Favela launched on April 27 and aims to raise 5 million reais for the community revitalisation. It will be a unique and exclusive collection with 10,000 colourful NFT’s generated from digital programming. By purchasing a token from one of these houses, the buyer contributes to transform the houses of Paraisópolis.
Similar projects were carried out in Mexico, Philadelphia and Vila Cruzeiro. They observed decreased violence, and improved interaction between their residents after artists painted homes with art and graffiti inside these marginalised communities.
“The project aims to revitalise homes, raising the population’s self-esteem, improving the residents’ quality of life, enhancing the value of the neighbourhood and strengthening the region’s commerce,” stated Carlos Leonardo, chief executive officer of Revitaliza Comunidades.
“The main reason of this project is to provide a comfortable environment, with decent housing conditions, protecting physical and mental health, generating social impact and income generation,” added Gilson Rodrigues, president of the G10 Favelas.
Last week, Ogilvy launched its NFTs to fund cancer treatments:
