LOS ANGELES & MIAMI--(BUSINESS WIRE)--Cryptograph, the first company to connect mainstream celebrities with Non-Fungible Token (NFT) technology and pioneer the concept of NFTs with a purpose, celebrates their one year anniversary this month. The platform’s milestone brings game changing technological developments to combat gas fees at auction, and bolsters NFT security and secondary market resale value in perpetuity.
Cryptograph has been playing in the NFT space since inception on the Ethereum blockchain in 2017. The built-in sustainable philanthropy model with unique technology, allows the NFT to keep on giving, even when resold. Following a successful debut in 2020 with Vitalik Buterin, Paris Hilton, Jason Momoa and more, the platform has given on an ongoing basis to more than 26 charitable organizations across a variety of sectors including education, open source, frontline Covid defense and feeding families. Cryptograph has raised six figures for organizations including Meals on Wheels, Save the Children and The Ethereum Foundation. Stepping into its second year, the digital legacy-based platform has a jam-packed calendar of NFT drops with some of the world’s biggest stars across Hollywood, music, art, fashion, photography and technology.
Since launch, Cryptograph has set themselves apart with their novel auction model and innovative gasless bidding method. Named the Gonnaud-Bessire-McDonaugh (“GBM”) auction, the model encourages a secure and fair bidding process where bidders receive incentives of up to 10% of their bid, when they are outbid. The gasless bidding made possible by Cryptograph’s sidechain, eliminates the high gas fees that users previously had to pay for when bidding.
“Gasless bidding in GBM auctions is going to be an absolute game-changer. Bidding will no longer be cost prohibitive and we can ensure more money goes to charitable causes and creators,” said Hugo McDonaugh, Co-founder of Cryptograph.
For each NFT auctioned on the platform, a portion of the token sale benefits a selected charity. Every subsequent transaction involving the token sends another donation to the chosen charity, while generating further profits for its creator. Security in the secondary market and resale space is even more crucial and Cryptograph have a built-in safeguard function called renatus. If for any reason a Cryptograph were to be lost or burnt, it will be able to put itself back on the market after a certain period of time and the Cryptograph will be able to continue carrying out its purpose.
Cryptograph will continue to be a key player in the NFT space with a series of mega drops including work from musical talent Chris Cornell, Zen Freeman & Fred Falke’s ‘Night Drive,’ featuring Alessandra Ambrosio. Additional drops include collaborations with Victoria the T-Rex, the most complete Tyrannosaurus Rex skeleton touring the world, NASA Mars project for The NASA Foundation, Smashbox Studios’ and Heir to Max Factor, Davis Factor, fashion photographer Ellen Von Unwerth, and a very special tribute to Kobe Bryant to benefit the Mamba & Mambacita Sports Foundation.
“We are very excited to bring our next generation of Cryptographs into the world over the coming year; it's going to be a truly iconic and historic series that we think collectors are going to love,” said Co-founder of Cryptograph, Tommy Alastra.
Over the next few months, Cryptograph will debut their new technology and their upcoming collector app on the Apple and Android stores. This will enable collectors to carry their NFTs with them wherever they go, with an option to download assets offline and showcase to anyone in a fully verified and secure method with proof of ownership.
Founded by a team of entrepreneurs, impact investors and blockchain pioneers who share a joint passion in using technology to do good. Cryptographs are one-of-a-kind digital collectibles created by icons and artists that support good causes forever. Thanks to blockchain technology, each Cryptograph is 100% owned by the purchaser and cannot be forged or destroyed. A Cryptograph is a digital legacy. Cryptographs are sold at auction and then traded by collectors on the platform, raising money for good causes every time they are transacted. The platform makes charitable fundraising easier, instantly global and perpetual in nature. It offers a new way to do philanthropy in the digital age. [CRYPTOGRAPH Made by Icons. Owned by You.] For more information, please visit www.cryptograph.co.