Black Tech Street, on Wednesday, 15th May, announced the launch of an NFT token to commemorate the Tulsa Massacre. The token also introduces a whole new Regenerative Fundraising model.
On Friday, the 19th of June, Tulsa USA based Black Tech Street, an organization dedicated to fostering technological innovation and entrepreneurship within Tulsa’s black community, will launch a commemorative NFT token. Minted in remembrance of the 100th anniversary since the racism-fueled destruction of America’s most economically successful black community, Black Wall Street, the sale of the NFT asset will mark the world’s first Regenerative-Fundraising Campaign.
“We are minting a one-of-a-kind Centennial Coin NFT to commemorate the 100th anniversary of the Greenwood Massacre and to raise funds to secure the next 100 years of innovation and success for Black entrepreneurs,”
Tyrance Billingsley II, Black Tech Street founder.
Black Tech Street, brainchild of Tyrance Billingsley, and Impact and Innovation firm, SecondMuse, are launching the NFT token, which features the likeness of one of the iconic neighborhood’s founders O.W. Gurley was announced at the Greenwood Massacre centennial, held in Tulsa on May 30th. The token will leverage blockchain-powered smart contracts to play the double role of commemorative asset, and fund raising medium.
As a fund raising channel, the non fungible digital asset will go towards fulfilling Black Tech Street’s vision of fostering black tech entrepreneurship by building a techhub for black businesses. The firm intends to invest about a billion dollars, over a ten year period, in the city’s black tech innovation.
“We are using cutting edge technology and emerging financial vehicles to help fund on-the-ground programs designed to unlock the creativity, innovation and passion of Black tech entrepreneurs now and for years to come,”
Billingsley
Created with the help of blockchain firm, Blockchange, the commemorative NFT is designed to raise funds continuously, by – through smart contracts – paying a royalty to the issuer, every time it changes hands (or wallets). Black Tech Street will receive a 50% royalty on every sale of the token, offering tax advantages for the buyer, thus creating a sustainable way of giving.
“We call it regenerative fundraising for world-changing causes,” commented Ron Guirguis, a Blockchange co-founder. “And we couldn’t imagine better partners than Black Tech Street and SecondMuse who are working to create intergenerational wealth for Black entrepreneurs in Tulsa and beyond.”
As Black Tech Street puts it, the token serves the multiple purpose of remembering the possibility destroyed by racial hatred, commemorating what a marginalized community once accomplished, and also looks forward to what is possible through technology. The token also stands an example of the innovation it is intended to foster, by introducing a new fundraising model.
