- Gate.io is launching a charity NFT collection named Paw Friends.
- Proceeds from the NFT sale will go to its animal rescue operations.
- NFTs are cheap today compared to last year — BAYC floor price is half of mid-2022.
Gate.io announced the launching of Paw Friends, a non-fungible token (NFT) collection of dogs that have benefited from Gate Charity — the philanthropic arm of the said exchange. According to the exchange, revenue from the NFT sales will be used to fund the operations of Gate Charity.
Up to 500 NFTs can be minted by interested buyers for $10 each. These will feature 20 unique photographs of the dogs that have been rescued by Gate Charity in partnership with Bohol Animal Rescue and Kindness (BARK), an animal shelter in Bohol, Philippines.
All proceeds will go toward the expenses necessary to keep the rescued canines well-fed and taken care of until they recover from their past trauma and abuse. In addition, Gate Charity is looking to expand its rescue operations further.
Gate.io is one of the leading cryptocurrency exchanges in the world in terms of trading volume and users. However, as to the amount of funds that it will raise from NFTs, only time can tell, especially since NFTs have fallen in terms of popularity and market value.
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For instance, the floor price of Bored Ape Yacht Club (BAYC) has fallen to $65,447, at the time of writing. Just last year, the floor price was at least double of what it is today.
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