INSEAD MBAs Raise Scholarship Money With NFT Auction
INSEAD MBA students have taken a novel approach to fundraising, creating and selling an NFT to raise funds for INSEAD's Robin Hood MBA Scholarship
Two MBA students from INSEAD have minted, marketed, and sold an NFT, raising €2,600 (around $3,000) for the school’s Robin Hood Scholarship fund.
Ferdinand Issels and Michelle Yu, members of INSEAD’s MBA class of 2022, are the first students in the school’s history to use NFTs (non-fungible tokens) for fundraising purposes.
Their NFT deftly combines INSEAD’s school logo with Robin Hood imagery. In the short looping video, a cartoon Robin Hood—inspired in style by video game classic, Mario—jumps onto a green salamander, which is INSEAD’s school emblem.
“Inspired by viral internet hits like Nyan Cat, we went for something bold, perhaps a little eccentric,” Ferdinand explains.
A novel approach to MBA funding
To make it more accessible, attendees at the NFT auction made their bids using government issued currencies like euros or dollars, rather than cryptocurrency.
Now sold, the Robin Hood NFT will be minted (transformed from a digital file into a non-alterable asset on a blockchain) through Ethereum when transferred to its new owner.
Ferdinand, Michelle, and the rest of the Robin Hood Campaign team have also ensured that future INSEAD MBAs will continue to benefit from their quirky NFT.