Canadian Ether staking service provider CanETH Staking Services, which is backed by Dubai entrepreneur Khurram Shroff, placed an undisclosed winning bid for a digital art representation of the Ethereum token, as part of a charitable auction by Toronto based fiat to crypto trading platform VirgoCX, in support of the SickKids Foundation.
Dubai: CanETH Staking Services, a Canada based institutional-grade staking service for Ether, which is backed by Khurram Shroff, Chairman of the Dubai based IBC Group, placed the winning bid for the Non-Fungible Token (NFT) for the digital art image of the Ethereum cryptocurrency. The NFT, of an undisclosed amount, has been donated to Artcryption, a Blockchain platform, which sells, licenses, protects, stores and manages intellectual property rights for art. The proceeds are going to a fundraiser for the SickKids Foundation, organized by Toronto based fiat to crypto trading platform VirgoCX.
“The entire process, from bid to donation, is a perfect example of using the flexibility and potential of Blockchain and cryptocurrencies, in the service of a worthy cause”, says Khurram Shroff. “The multiple entities involved, including CanETH Staking Services, VirgoCX and Artcryption, are all actively propagating unique and innovative implementations of Blockchain technology. We are delighted to have been part of this initiative. It not only showcases some of the many diverse possibilities empowered by Blockchain technology, but has also raised funds for research, clinical care and compassionate initiatives through the SickKids Foundation”.
Digital artist Richard Haderer, known as MrY in the Crypto-Art world and the creator of the artwork donated by CanETH staking services, also endorsed the sale. “I’m really happy that this artwork found its way to a good cause”, Richard said. “CryptoArt, or artwork that is tokenized as NFT on the Blockchain, are a great way to create value and safety for artists and creators. It is the way art is collected in the 21st century”.
The online crypto fundraiser was organized by VirgoCX, one of the leading fiat to cryptocurrency trading platforms in Canada, by exchanging cryptocurrency into cash donations, as well as a virtual benefit concert on Dec. 17, 2020, and a 7-day online charitable auction. A non-fungible token, for a digital representation of the Ethereum symbol, was donated the auction by 3iQ Corp, Canada’s largest Bitcoin and digital asset fund manager. As the winner of the auction for the NFT, CanETH Staking Services has donated the token to ArtCryption, an Ontario Canada based Blockchain platform that secures intellectual property rights for art and limited editions, founded by crypto entrepreneur Vandana Taxali.
“Blockchain has the potential to transform virtually all human activities, interactions and transactions through infallible records and security, and this online fundraiser is an example of how these applications can extend far beyond cryptocurrency or digital contracts. Our participation in the online auction is emblematic of our belief in the power of technology to make a positive difference to our world”, Mr Shroff concludes.
About Khurram Shroff:
Arab ‘whale’ Khurram Shroff, whose IBC group holds more than 4000 crypto currencies and has been an ardent champion of Bitcoin Blockchain and was also instrumental in the recent launch of Ethereum 2.0, through an investment of $10 million (around 20,000 Ether stakes). Khurram is an award winning global banking and finance leader, who has been featured in the prestigious list of the “Top100 Most Powerful and Influential Muslims in Great Britain and the World” by Power100. He is the Chairman of IBC Group, which is a substantial Global Real Estate and Tech investment company based in the UAE, as well as Chairman of Gallery Suites, which focuses on inspirational living with bespoke art collections in holiday home properties across Middle East and Asia.
VirgoCX is one of the leading fiat to cryptocurrency trading platforms in Canada. Headquartered in Toronto, VirgoCX offers services that allow investors to easily transfer value between cryptocurrencies, as well as from crypto to fiat currency markets, while adhering diligently to global compliance requirements. VirgoCX is playing a crucial role in accelerating the adoption of Bitcoin, Ethereum, Litecoin, and other cryptocurrencies.
About CanETH Staking Service:
CanETH Staking is the smartest Ether staking service. CanETH is a decentralised global network that offers ETH 2.0 staking for users. CanETH has a proprietary process to auto update scripts on the codebase. This integrates with Firewall rules and Port Forwarding to maximize staking rewards. CanETH is a participant in the Medalla testnet with active validators.
Artcryption is a digital rights management platform for creators and artists that gives them Blockchain based protection against copyright infringement and prevents counterfeits and fakes of their intellectual properties. It issues certificates of authenticity and facilitates the release of limited editions/NFTs of art on the blockchain