The South East Community Development Council (South East CDC) will provide cost of living benefits through non-fungible tokens (NFTs) by local blockchain company LifesDAO. The NFTs will be distributed over 10 years and sum up to $60,000.
In the first year of the partnership, Social Purpose Entities, such as Filos Community Services, and their beneficiaries can access the benefits provided by LifesDAO’s NFTs, with a total value of $6,000.
The NFTs will enable 120 vulnerable individuals and their families in the South East District to access lifestyle services from LifesDAO’s rapidly growing ecosystem of more than 100 merchant outlets across Singapore. These services include traditional Chinese medicine, physiotherapy, fitness classes, and hair salons.