The NFT of Nelson Mandela's Arrest Warrant Raises $130,000

 The NFT of Nelson Mandela's Arrest Warrant Raises $130,000

 

Nelson Rolihlahla Mandela was an anti-apartheid advocate who became president of South Africa in 1994. In 1993, Mandela and Frederik Willem de Klerk won the Nobel Peace Prize "for their work towards the peaceful termination of the apartheid regime, and for laying the foundations for a new democratic South Africa."

Law enforcement arrested Mandela on several occasions. In 1961, he faced charges of treason before being acquitted. He was then arrested in 1962 for illegally leaving the country. In 1964, he was arrested on charges of sabotage and sentenced to life in prison. Mandela spent 27 years in prison before becoming the first black president of South Africa in 1994.

This week, Nelson Mandela’s legacy became etched into the virtual world. Bloomberg reported the sale of Mandela’s first arrest warrant as an NFT. The auction fetched R1.9 million, equivalent to $130,500.

Proceeds from the sale will help fund Liliesleaf, one of South Africa’s national heritage sites. Between 1961 and 1963, Liliesleaf served as the African National Congress’s (ANC) secret headquarters.

The Liliesleaf Museum Heritage Site recently raised $130,000 via the auction of a non-fungible token (NFT) created from an arrest warrant issued against Nelson Mandela in 1962. Liliesleaf is now a national heritage site depicting South Africa’s journey to democracy. The proceeds from the NFT sale will be used to support museum activities.

A non-fungible token (NFT) minted from the former South African President Nelson Mandela’s warrant of arrest was recently auctioned for $130,000 (1.9 million rands), a report has said. The proceeds are expected to help bankroll the Liliesleaf Museum Heritage Site, an organization that documents South Africa’s fight for freedom and democracy.

According to a Bloomberg report, the Liliesleaf Museum Heritage Site had initially received the original document in 2004 as a donation. The warrant itself was issued in 1962, by South Africa’s then minority rulers after they accused Mandela of conspiring to overthrow the government.

After holding the document for nearly 18 years, the Liliesleaf Museum Heritage Site has again raised funds using an NFT that depicts an object once associated with South Africa’s freedom fighters. Before the latest auction, the heritage site had previously received about $50,000 after it auctioned an NFT of a pen gun that was owned by another South African freedom fighter, Oliver Tambo. In both instances, Momint, a South African NFT marketplace, handled the auctions.

Commenting on the latest NFT auction, the CEO of Momint, Ahren Posthumus, is quoted in the report explaining why museums are pivoting to NFTs. He said,

Museum sites stay afloat. They have been badly affected by the lack of tourism due to COVID. So this is a way to revitalise their flow and keep history alive. 

In addition to museums, conservancies like the Black Rock Rhino have used proceeds from NFTs to pay for some of the sanctuary’s day-to-day expenses. The pivot to NFTs by charitable organizations comes after one study suggested that more South Africans are buying or are interested in buying NFTs.