Proceeds of Alpha Motor’s NFT ‘Relay Race’ Event to Support MJFF
Alpha Motor Corporation, an electric vehicle company based in Irvine, California, will donate 100% of net proceeds of sales from its NFT fundraiser to the Michael J. Fox Foundation for Parkinson’s Research (MJFF) in support of its research programs advancing work into Parkinson’s disease.
The online event features the company’s Alpha Fox NFT Collection, supporting the MJFF through a virtual “baton relay race” of its 20-vehicle NFT automotive fleet. The NFT is said to serve as the baton and the effort’s supporters, through a “continuous transfer of ownership,” are essentially the relay racers.
Electric vehicles in this collection include the Wolf truck and the Ace Coupe, with the latter among the winners of the Zevas Award, a zero-emission vehicle award program introduced at the 2021 Los Angeles Auto Show.
“We are continuously inspired by our community and the multitude of creative ways they are driving The Michael J. Fox Foundation’s mission forward,” Liz Diemer, MJFF vice president of community fundraising, said in the release.
“With support from our friends at Alpha Motor Corporation and the online community, this new and inventive NFT collection will benefit the Foundation’s goal toward a cure and improved therapies for the millions of people and families living with this disease around the world,” Diemer added.
NFT stands for “non-fungible tokens,” described as digital certificates of authenticity, and this fundraising is on the Rarible NFT site.
It places a “market cap” of $2,000 on a vehicle and a “floor price” of $99.
“Alpha Motor Corporation’s NFT-backed fundraiser was inspired by imagination of a virtual marathon alongside Team Fox in a race together to cure Parkinson’s,” the company stated in the release. “It opens the company’s digital vehicle development process to involve the community at large to come together in support of a greater cause.”
All net proceeds from the Alpha Fox NFT Collection will benefit MJFF’s high-impact research programs “to accelerate urgently needed therapies and a cure for Parkinson’s disease,” the release added.