Imagine paying a fair price for a piece of digital art online and receiving a special digital token that verifies your ownership of the purchase. Wouldn’t that be wonderful?
Well, owing to NFTs, that chance is extraordinary. The world of digital art and collectibles is currently awash in NFTs. NFTs are currently positioned as the digital alternative to collectibles, as much as everyone believed that Bitcoin was the digital replacement for cash. As a result of the enormous sales to a new crypto audience, digital artists are witnessing changes in their lives. NFT’s can be identified as highly novel with some exciting features where they are recognized as a ‘Digital Asset’ as it is a Cryptocurrency that uses the blockchain technology that powers Cryptocurrencies to represent online valuables like music, games, and artwork with an official certificate. It is also unique and cannot be copied or altered in any way, and NFTs can be exchanged involving Cryptocurrencies like Bitcoin take place.
Spectrum is a ground-breaking project based on the NFT (Non-Fungible Tokens) Cryptocurrency market that is run by the Professional Development Avenue of the Rotaract Club of University of Kelaniya. By doing research and participating in the global Cryptocurrency network to collect money for the club’s next projects, Project SPECTRUM in particular added a new chapter to the history of the Sri Lankan volunteer clubs by initiating this unique and ideal project that shows off the excitement and fascination that is highlighted through technology and Cryptocurrency.
Additionally, accomplishing the project’s ultimate objective, the proceeds will be used to assist a future project organized by the club that aims to aid a country’s disadvantaged school and will debut a documentary about NFT that examines both the positive and negative parts.
This initiative contributes to improving undergraduates’ practical knowledge of NFTs which is particularly necessary in terms of the fast growth in the world which is mostly tech-oriented, and knowledge on diverse types of Cryptocurrencies will be crucial knowledge in the near future. Students were able to advance their creativity and artistic sense, as well as their research and analytical skills through this project.
We were able to successfully initiate the next milestone of the project through the Documentary that was held on the 30th of October 2022 at the Pre-Clinical auditorium of the Medical Faculty of University of Kelaniya, “Web 3.0”, where the event was graced by DRR Rtn. Rtr. PP Ahmed Hussain, the Chief Guest, The Guest of Honor, IDRR Rtn. Rtr. PP Akhila Adheeshwara, and DRRE Rtr. PP Sathma Jayasinghe, The Past Cub Service District Director, Mr. Anju Cheran, along with Members from the District Steering Committee, Past Exco Members, Current Exco Members, and Current Board of Directors of RACUOK and most importantly the members from the club.
The event was an ultimate success facilitated with a 40 minutes Documentary briefing the audience and providing them the knowledge about what NFTs really are and how they work in the current world driven by technology followed by a certificate and trophy distribution to the last year organizing committee as an appreciation from the club for taking the clubs reputation to the greatest heights by winning multiple awards both in the local and international arena. The audience’s reaction to the documentary was really enthusiastic and also the Guests who graced the occasion, spoke about this triumph and the Professional Development Avenue of the Rotaract Club of University of Kelaniya was highly appreciated for taking such a massive step and embracing the essence of technology.
The event was commercially powered by Glaxo Kline Smith Pvt Ltd under the brand name Eno as the offical Gold sponsor and Asia Pacific Collage of Digital Marketing as the official Silver sponsor which made things way more convenient and easier. 15 mins of the event was exclusively reserved for their paid promotion including a fun activity and promotional videos.
Also, we were able to publish the NFT collection, “Crab Realm” in Open Sea, related to the indigenous creature, The Hermit Crab which was a main element linking to one of our former Rotaract projects “Katuwa”. This was indeed another glorious milestone of Spectrum.
The mission of SPECTRUM is highly focused on the social responsibility of students to help the underprivileged with the profits that they tend to raise through a more revolutionary endeavor which makes the project exemplary and balanced in rounded angles.