How blockchain can help fund artists—and revive the arts

As a complement to the blockchain technology platform, NFTs enable direct support of artists by a community of philanthropists. Given the growing, yet unrealized potential of these philanthropic tools, Living Opera recently launched an NFT collection called Magic Mozart and a nonprofit called Living Arts Foundation, a decentralized grantmaking community with the ability to fund individual artists and their unique creative contributions. [...] Enter blockchain technology and non-fungible tokens (NFTs), which have the capacity to facilitate philanthropy in the arts. Although NFTs and the broader cryptocurrency market faced some challenges and controversy in 2022—which are unrelated to the technology—when used appropriately, this technology can serve as a democratizing force within philanthropy by providing a transparent, more open forum for artists and philanthropists. This technology has the potential to take Parassidis’ rare [...] #### BRINGING THE BLOCKCHAIN TO ARTISTS AND PHILANTHROPISTS When someone buys a Magic Mozart NFT, they obtain not only a unique piece of digital and musical artwork, but also a “digital key” that grants them access to Living Arts Foundation. For those who want to contribute funds, but do not have the time to participate in the community, they can donate and sponsor recipients of the Mozart NFTs.