Fidelity Charitable launches NFT raffle amid crypto downturn

By THALIA BEATY
Associated Press

NEW YORK (AP) — Fidelity Charitable, the nation’s largest grantmaker, is getting into NFTs or nonfungible tokens despite a torrent of bad news about cryptocurrency companies. NFTs are digital images that are registered on the blockchain. In a raffle that will end Tuesday, participants can claim one of the NFTs. Fifty people will also win $1,000 to donate through a donor advised fund at Fidelity. Donor advised funds allow donors to claim a tax credit for charitable donations before they actually make a donation to an eligible nonprofit. Amy Pirozzolo, head of donor engagement for Fidelity Charitable, said they are running the promotion to reach a new generation of potential philanthropists.