Meta Collabs With Taiwanese Pro-LGBT Group to Issue Pride-Focussed NFTs

Local cryptocurrency exchange ACE is also part of this initiative alongside Meta.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 27 October 2022 10:16 IST

Meta Collabs With Taiwanese Pro-LGBT Group to Issue Pride-Focussed NFTs

Photo Credit: OpenSea

Each NFT from this collection titled ‘Hotline Bubble Tea’ will be priced around ETH 0.05

Highlights

The collection will go live on October 29
The OpenSea page for this collection has already been set up
Meta will facilitate the showcase of these NFTs on its social networking

Meta, formerly Facebook, has been marking its presence in next-gen digital initiatives, especially the ones that have a Web3 flavour to them. The social networking giant has now pledged support to a Taiwanese LGBT advocacy group to launch an NFT collection dedicated to the Pride celebration in Taiwan. In Taipei, an annual LGBT+ pride parade is set to take place on October 29 to celebrate its 20th edition. Local cryptocurrency exchange ACE is also part of this initiative alongside Meta.

A total of 304 NFTs, or digital collectibles, will be issued under this project. All of them will be feature representations of bubble tea, that is dubbed as the signature beverage of Taiwan.

“The Taiwan Gay Advisory Hotline Association is the first nationwide gay organisation in Taiwan. In 2022, we will cooperate with Meta to extend the touch of the telephone consultation to the metaverse, using the bubble tea with the image of Taiwan as the prototype, adding different community elements to issue 304 NFTs,” read the official page of the Taiwanese LBGT advocacy group.

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Each NFT from this collection titled ‘Hotline Bubble Tea' will be priced around ETH 0.05 or $75 (roughly Rs. 6,150). The profits garnered by the sales of these NFTs will be used to support the Pride-focussed non-profit organisation. Interested people will be able to purchase these NFTs via OpenSea marketplace.

Meta's role in this deal will primarily be about promoting these NFTs on its social networking apps. The conglomerate has already started rolling out the NFT-display feature on Facebook and Instagram.

This year, Meta chief Mark Zuckerberg spoke multiple times about integrating NFT-focussed services to the social networking apps under its control.

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Further reading: Cryptocurrency, NFT, Non Fungible Token, Meta, Taiwan, LGBT

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More