Rafaël Rozendaal Gifts 164 ETH from Art Blocks NFT Windfall to Rhizome
Rafaël Rozendaal donates 50% of the proceeds (164 ETH, worth $430,000 USD) from his Endless Nameless NFT windfall to Rhizome. Selling out quickly on the Art Blocks platform on July 30th, Rozendaal’s 1,000-edition series of colourful subdivided squares saw individual NFTs going for upwards of 1 ETH. Acknowledging Rhizome’s legacy of valourizing and preserving internet-based art, the gift is the largest benefit donation in the organizations’ history. “The program and preservation teams are currently meeting to figure out how best to use this extraordinary gift with the aim to share initiatives big and small by next month,” writes Rhizome’s Zachary Kaplan. Giving back is in the air, apparently, as this (re)investment in culture comes shortly after fellow NFT artist Dmitri Cherniak’s generous donation to the Processing Foundation.