Alumni Chip in for CUHK’s Inaugural NFTs Fundraising

From 8 to 11 November, the 2021 Alumni Homecoming Anniversary Classes Fundraising Committee rolled out CUHK’s inaugural Non-Fungible Tokens (NFTs) online fundraising campaign using a collage of campus landmark images. The campaign was well-supported by CUHK alumni. Nearly a hundred of them have bid for the NFTs, and the fund raised has totalled almost HK$0.8 million. Including other donations received this year, the fundraising committee of 2021 has raised more than HK$1.3 million for the CUHK Alumni Torch Fund (the Fund). The donations accumulated for the Fund has reached a milestone of its first HK$10 million.

The NFTs are a collage consisting of various CUHK landmarks in a hundred image cells for auction with reference numbers from 1 to 100. The work is named ‘Million Colours of CUHK’, which alludes to the vibrant University Mall. To view the full picture it requires merging the hundred image cells. It implies solidarity and a sense of community among CUHK alumni.

NFT, or Non-Fungible Token, can store specific information in the blockchain in encrypted forms. With their anti-counterfeiting function, they can be traded through online trading platforms as circulated digital collectibles. Each NFT is unique and cannot be divided into smaller units for trading. In other words, even if others copy the NFT artwork online, it cannot replace the owner’s sole ownership of the artwork.

The fund raised in the event would be fully allocated to the CUHK Alumni Torch Fund. The CUHK Entrepreneurship Day and the CUHK Young Alumni Career Week are two flagship events supported by the Fund.