NFTs Representing The Slum In Brazil Intends To Raise $5 Milion To Revitalize Homes At Paraisopolis Community

Jun. 07, 2022

In the middle of towering buildings and upscale neighborhoods of the southern area of Sao Paulo, there is Paraisopolis, the capital's second-largest slum, a symbol of social inequality and, on the other hand, an important cultural center. With a never-ending expansion of new homes being built and a high population density, these neighborhoods suffer from neglect and underfunding, such as houses without plaster, exposed bricks, and more than one floor with unfinished slabs.

With this in mind, G10 Favelas, Revitaliza and DAB created the project "Colors of Favela." Through the production and creation of special NFTs with local artists, we will be raising funds to enable more than 500 homes in Paraisópolis to be plastered and coloured. 

Launched on April 27th, Colors Of Favela aims to raise 5 million reais to be converted for the community revitalization. It will be a unique and exclusive collection with 10,000 colorful NFT’s generated from digital programming. By purchasing a token from one of these houses, the buyer contributes to transform the houses of Paraisópolis.
Similar projects were carried out in Mexico, Philadelphia and Vila Cruzeiro. They observed decreased violence, and improved interaction between their residents after artists painted homes with art and graffiti inside these marginalized communities.

Behind the Colors of favela, there is Revitaliza Comunidades, a star up connected to visual impact causes inside Paraisópolis, it is one of the initiatives of G10 Hub and had joined with DAB (advertisers, artists and NFT developer) to make the Colors of favela live.

Carlos Leonardo, CEO of Revitaliza Comunidades said:

"The project aims to revitalize homes raising the population's self-esteem, improving the residents' quality of life, valuing the neighborhood and strengthening the region's commerce."

 

Purchases of NFT's can be made through the project's website. To acquire the NFT's, the user needs to have a digital wallet inside MetaMask, which will serve to send coins, tokens, and receipts – operations of digital banks. To have an idea, the value of one NFT, is attractive, one NFT can be sold at 0.03 ETH (Ethereum currency), which is equivalent to approximately ＄100 dollars.

Gilson Rodrigues, president of the G10 Favelas added:

"The main reason of this project is to provide a comfortable environment, with decent housing conditions, protecting physical and mental health, generating social impact and income generation."