Sold at auction and later traded by future collectors on the platform, Cryptograph is shaping digital history by supporting good causes over time. To commemorate the late Kobe Bryant, Cryptograph, an NFT auction platform specializing in one-of-one collectibles, will be releasing exclusive photos in honor of "National Kobe Bryant Day."
Featuring a collection of eight unique, high-resolution, and iconic images taken by Davis Factor over 20 years ago, the images capture Bryant at the beginning of his legendary career. As part of Cryptograp's mission, 100 percent of the revenue from the auction will be donated to the Mamba and Mambacita Sports Foundation, which is a nonprofit organization. The foundation is committed to having a positive impact on all underserved athletes in sports.
"Every time a Cryptograph is transacted, money is automatically donated to a cause forever."
Besides the fact that Cryptograph prides itself on being the "first luxury and celebrity NFT auction platform," it has uniquely modeled its auction mechanism. Leveraging blockchain technology, Cryptographs function as a gateway for philanthropy. They support charitable causes because every time there's a Cryptograph transaction, the funds will automatically be allocated to the creators' respective cause.
Enabling fans to uniquely interact with artists and celebrities in holding their creations, Cryptographs also added another layer of utility for NFTs. Users can also verify where the donations are going. In contrast to donating to charitable causes outside of the blockchain, Cryptograph gives users the ability to verify and track the progress of each Cryptograph and the money it has raised.
Technology behind Cryptograph enables its innovative model
The Cryptograph platform is built on the Ethereum blockchain. All of the Cryptographs are represented as ERC-21 tokens. The platform has also implemented a transfer function extension, ERC-2655, that allows for wide interoperability and strong creator incentivization. Cryptograph is the first NFT platform to use the ERC-2665 implementation where the transfer fee of a Cryptograph is calculated as a percentage of its last sale price transparently and on the blockchain.
NFT photos of the late Kobe Bryant capture a moment in his life, prior to stardom.
Recently, Davis Factor of Smashbox Studios commented on the decades-old photoshoot. The photoshoot allowed him to capture Bryant's "everydayness." Knowing where Bryant was headed, Factor took advantage of capturing Bryant at the beginning of his career. Factor knew that as Bryant's fame and success grew, this opportunity would grow increasingly slim. As Factor put it, the intimate shoot with Bryant was a "....once in a lifetime opportunity."
In capturing Bryant's youth and personal essence, Factor has composed a digital collection of the eight images that are set to launch on Aug. 24 at 1:00 p.m. ET as an ode to "National Kobe Bryant Day." By unlocking this digital ownership, Cryptograph is emphasizing the value of digital scarcity and using digital scarcity to provide value back to the communities their creators' value.
While many people might still have the notion that the only purpose for NFTs is to be purchased and showcased, Cryptograph innovates and verifies the way NFTs can be utilized for the greater good.