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Jewish National Fund-USA (JNF-USA), the leading philanthropic organization for Israel that supports critical environmental and nation-building activities in Israel’s north and south, recently announced it has sold its first non-fungible token (NFT) for a record $10,000.
The single edition one-of-a-kind NFT — a video featuring three generations of Jewish National Fund-USA’s iconic charity blue boxes commemorating Israel’s Independence Day — was purchased by longtime JNF-USA partner (donor) Adam J. Yormack, Esq., a corporate and real estate attorney based in Coral Gables, Florida during a silent auction at JNF-USA’s Miami Tech Month virtual event co-hosted with the SoFlo-Israel Tech Innovation Entrepreneurship Council. Yormack, who is the owner of local businesses including On Chain Listing, Inc., Alligator Title and Escrow, and Yormack Law, also serves as a member of JNF-USA’s Miami-Dade Board of Directors and is the local chair of the organization’s Lawyers for Israel and Real Estate Divisions. With this philanthropic NFT purchase, Yormack has also joined Jewish National Fund-USA’s Housing Development Fund Task Force.
“I believe Jewish National Fund-USA is at the forefront of developing Israel and supporting new communities and innovation in Israel,“ said Yormack. “The Web3 event and NFT initiative hosted by our Miami-Dade region is the perfect example of how we are also innovating here at home by providing cutting-edge programming and the latest experience in charitable fundraising to our communities, bringing together people who share the values of supporting Israel and the freedom she stands for.”
NFTs are digital assets that live on a blockchain network, so their authenticity and ownership are part of a global public record. Each NFT has a unique identification code and metadata that distinguish it from other NFTs. Tokens can be artwork, audio, video, and even virtual real estate in the metaverse. “I believe in blockchain technology. It will infiltrate all industries from the philanthropic space to real estate and everything commerce. Blockchain will soon touch every industry,” added Yormack.
Since 2021, the popularity of NFTs has grown, with new collections launching every day. Digital investors worldwide are taking a keen interest in this new asset class, driving the use of NFTs as collectibles in various niches such as gaming and digital art.
“The NFT collectible as a tool for philanthropy, to help fund projects and social initiatives, is still very new and Jewish National Fund-USA is leading the charge in this space,” said Michael Teichberg, JNF-USA’s Director in Miami & Broward and Founder of the SoFlo-Israel TIE Council.
“We were thrilled to see the bids we received in response to our first-ever NFT auction,” added Maia Aron, Jewish National Fund-USA’s regional President in Miami-Dade. “Now we can look at this sale as proof of concept to launching full NFT collections in support of many of Jewish National Fund-USA’s incredible projects in Israel.”
Jewish National Fund-USA plans to use all the proceeds from the event and NFT auction to support its game-changing philanthropic work improving the quality of life for the land and people of Israel. Additional JNF-USA NFT collections are expected to be released later this year.
To view the NFT video, visit https://youtu.be/Ay3757nGcEM.
Questions? Contact Michael Teichberg, JNF-USA Director, North Dade and Broward at 305-682-0025 x897 at mteichberg@jnf.org.
