The Hollywood Sign Is Being Auctioned as an NFT

Another auction joining the recent craze, Los Angeles' iconic Hollywood sign is being sold as an NFT. In partnership with the Hollywood Chamber of Commerce, Sugar23 – a platform created by producer Michael Sugar – will be hosting the digital sale.

As of now, the project is in its early stages and Sugar23 has yet to select an artist to create the NFT art, according to The Hollywood Reporter. Proceeds from the auction will go towards the Chamber and its initiatives focused around education, diversity, inclusion and homeless populations. "We see this as a unique opportunity to do something good for the city, by the city, and with the city of Los Angeles, and what better way to give back than by raising money for those who need it most," Sugar shared in an announcement.

Sugar23 is aiming to launch the digital auction this summer.

In related news, a rural Filipino community is earning cryptocurrency by playing an NFT game.

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