Musician Mike Shinoda, guitarist and founding member of the American rock band Linkin Park, has auctioned his first non-fungible token (NFT) for a charitable cause.
The NFT, a piece of digital media titled ‘One Hundredth Stream,’’ raised over $30,000
Musician Mike Shinoda, guitarist and founding member of the American rock band Linkin Park, has auctioned his first non-fungible token (NFT).
I made a thing: https://t.co/nxirMUsCvb #NFTs #Cryptoart @ourZORA
— Mike Shinoda (@mikeshinoda) February 6, 2021
According to a tweet from Shinoda’s Twitter profile, $30,000 of the money raised will go to the Michael K Shinoda Endowed Scholarship at the Arts Center College of Design to ‘benefit students based on artistic merit and financial need.’
$30k US will be going to the “Michael K Shinoda Endowed Scholarship” at @artcenteredu to benefit students based on artistic merit and financial need. https://t.co/sMy9tPrWV1
— Mike Shinoda (@mikeshinoda) February 8, 2021
The NFT was a piece of digital media titled ‘One Hundredth Stream,’ featuring a 37-second long animation accompanied by music written by Shinoda. It was uploaded onto the exchange site Zora, which specializes in the buying, selling, and trading of limited-edition art and goods.
Unlike standard digital tokens and cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, NFTs represent something unique and are not mutually interchangeable. This model makes NFTs particularly well suited for digital media and art pieces, the value of which is usually determined by the market and the creators themselves. Shinoda picked up some criticism from fans for attaching value to an item that could be given away for free on social platforms, and used the opportunity to educate
