Everything else.. St. Peter’s College Creates Sri Lanka’s First School NFT

St. Peter’s College Creates Sri Lanka’s First School NFT

2022 May 21

St. Peter’s college celebrated its 100th anniversary on the 18th of January 2022. Upon reaching this milestone, a group of students led by the school’s Prefect Body decided to innovate and take upon a unique project commemorating the school’s remarkable achievement.  This mission hasn’t been planned or executed by any other school in the country, which places the cherry on top of the cake.

The particular project in question involves the application of 3D modelling combined with blockchain technology to create an artistic concoction known as a Non-Fungible Token (NFT). An NFT is a unit of data stored on a blockchain that can be sold or traded and is often associated with photos, videos and audio.

Two distinct NFTs were developed; the college crest and a distinguished centenary logo. The students involved in this assignment reportedly spent close to three weeks designing the NFTs and laying out the logistics of this operation. Their long-term goal with this initiative includes the promotion of NFTs in Sri Lanka. Through this project, the prefects at St. Peter’s College hope to encourage aspiring artists and graphic designers all across the country to design and publicise their own NFTs so that an entire local market is created, making cryptocurrency transactions the new norm in today’s society.

The NFTs fabricated by the Prefect’s Body are available for purchase on the Open Sea. The Open Sea is a platform where you can discover, collect and sell NFTs. People interested in investing in these NFTs can do so using the Ethereum currency only. Like any other NFT you could purchase, it can only belong to one person, so it would be advisable to place your bid as soon as possible before anybody else can snatch it away from you. If you do happen to get your hands on one or both of these NFTs, you’d be able to keep them in your possession for memorabilia purposes or else you could trade them or re-sell them at a higher price to gain a profit from your purchase (flipping NFTs). The Prefect’s Body of St. Peter’s College has mentioned that all the funds garnered for both NFTs will go to the school, and no personal profits will be procured. The money earned will be used for school renovations and such. The Peterites hope to sketch, compose, 3D model and advertise more NFTs if their current project gains traction in the market and ends up being successful.

St. Peter’s College has built an exceptional reputation for itself over the past century, and they are well known for being dominant in a variety of avenues. This project will aid them in expanding their horizons and be amongst the few groups of people who have pioneered in the crypto world.

 

Website: https://thepeteritenft.com/
OpenSea Market Link: https://opensea.io/collection/thepeteritenft
Instagram: https://www.instagram.com/thepeteritenft/?igshid=YmMyMTA2M2Y

 

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