Vitalik’s Balvi Raises $2.5M; funded by Shiba Inu, CryptoRelief
2022.05.06 00:42
Vitalik’s Balvi Raises $2.5M; funded by Shiba Inu, CryptoRelief
- Vitalik’s Balvi raised funds for Covid in India via Shiba Inu and Crypto Relief.
- The funds of $2.5 million were awarded to RaDVaC; an open-source, vaccine research group, to close the vaccine access gap.
- Sandeep Nailwal’s Crypto Relief and EY collaborated to auction Guardian Animal NFTs worth 5000 tokens.
Ethereum Founder Vitalik Buterin announced via Twitter (NYSE:TWTR) that Balvi – a welfare and charity organization with the help of Shiba Inu and Crypto-Relief – received its first round of funding where Balvi managed to secure $2.5 million.
Update from Balvi! (moonshot anti-covid effort funded by @ShibainuCoin @CryptoRelief_ ). We have our first round of funding recipients:
— vitalik.eth (@VitalikButerin) May 5, 2022
The funding will be utilized for Covid-19 vaccine research and development. Nonetheless, R&D will focus on vaccine infection protection and will aim to minimize the effects of the vaccine, which was decided after careful observation, due to certain individuals being affected by the vaccine.
While India was being battered by the second wave of Covid-19, Ethereum founder Vitalik Buterin came to its aid. Vitalik gave approximately $1.5 billion in cryptocurrency to India’s Covid-19 relief fund, assisting the government in its fight against the pandemic.
“I plan to personally deploy these funds with the help of science advisors to complement CryptoRelief’s existing excellent work with some higher-risk higher-reward Covid science and relief projects worldwide,” tweeted Vitalik.
In related news, Sandeep Nailwal’s Crypto Relief and EY collaborated to collect funds through the auction of Guardian Animal NFTs, in which five unique digital art pieces were released for auction as 5000 tokens.
The auction proceeds will be used to fund charity healthcare efforts in India. This set of Guardian Animal NFTs, inspired by Indian mythological beasts – Airavata, Vanara, Mayura, Simurgh, and Jatayu – was developed by India-based artists from EY and is being auctioned on OpenSea till the end of April 2022.
Furthermore, EY Blockchain professionals are advising the project on how to use blockchain-based solutions on blockchain.ey.com to mint the NFTs and use the EY OpsChain Public Finance Manager.
Sandeep Nailwal founded Crypto Relief to develop advanced medical infrastructure in the country and help extinguish the global crisis by preventing the pandemic from spreading.
Proceeds from the auction of these NFTs will aid in supplementing the Crypto Relief Fund. The fund is boosting medical infrastructure in India and is in the process of building a state-of-the-art virology research institute in India to be able to predict future outbreaks and take timely and necessary precautions.
Crypto Relief takes pleasure in being truthful and responsible with the funds acquired through such activities. According to Nailwal, the fund considers fresh ideas and innovative businesses that bring real-world solutions to current problems.
Continue reading on CoinQuora
