DOGS, a memecoin based on The Open Network (TON), plans to donate over 6 billion tokens valued at approximately $4.5 million to nonprofit organizations globally after launching a charity portal in late November.
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DOGS, a memecoin based on The Open Network (TON), plans to donate over 6 billion tokens valued at approximately $4.5 million to nonprofit organizations globally after launching a charity portal in late November.
As reported to Cointelegraph. the new platform enables registered nonprofits worldwide to apply for funding, showcasing DOGS' dedication to directing a substantial portion of unclaimed airdrop tokens towards charitable causes.
Over the year, more than 6 billion DOGS tokens, equivalent to $4.5 million at the current rate, will be allocated to selected organizations following a comprehensive approval process, it added.
A part of this initiative includes a $150,000 partnership with Best Friends Animal Society, a nonprofit aiding homeless animals in the United States.
''Our collaboration with Best Friends Animal Society is a call to action for the crypto community to help achieve a future where every shelter reaches the 90% no-kill benchmark by 2025,'' stated DOGS founder Andrew.
Yuga Labs, the blockchain firm known for the Bored Ape Yacht Club (BAYC) NFT collection and ApeCoin, has acquired the tech team from Tokenproof, a Web3 tokenization service.
On December 3, Tokenproof's founder and CEO Fonz O announced that Yuga Labs had acquired Tokenproof's technology and integrated some of its team members.
Fonz O explained that Tokenproof developed a system to verify NFT ownership in real-world scenarios and has been working with Yuga Labs since 2022.
Greg Solano, co-founder of Yuga Labs, highlighted their ongoing collaboration with Tokenproof, stating: ''Together with Tokenproof, we solved numerous complex issues, ensuring your ape jpeg could securely and efficiently grant you access to a global festival.''
RTFKT, the creators of NFT virtual sneakers acquired by Nike in 2021, announced that it will cease operations in January 2025.''To honor and preserve this pioneering legacy, we will be launching an updated website that showcases the groundbreaking work that defined the RTFKT journey,'' the company stated in a Dec. 2 X post.
RTFKT mentioned it would release one final collection called 'BLADE DROP' before winding down, as a testament to their commitment to innovation and merging worlds.
They added,
''RTFKT isn’t ending. It’s becoming what it was always meant to be — an Artifact of cultural revolution.''