Ministry of Chile finances NFT project of local artist

Key facts:

The Ministry of Cultures, Arts and Heritage will finance the NFT project.
The project will receive almost 8 million Chilean pesos, which is equivalent to more than USD 9,700.

A man named Matías Salvador Alarcón Vargas won a government fund in Chile to finance an NFT (non-fungible token) project. This was announced by the Ministry of Culture, Arts and Heritage this week, after publishing the results of the FONDART 2022 awards.

FONDART, which is Chile’s National Fund for Culture and the Arts, has financed artistic projects since 1992. In this year’s edition, it has chosen 2,522 projects among which it will distribute CLP 27 billion (Chilean pesos), which is equivalent to almost USD 33 billion (US dollars).

One of the winners is Matías Salvador Alarcón Vargas, who you will obtain a total of CLP 7,977,570 to finance your NFT artistic development project for the creative sector in Chile. This is equivalent to around USD 9,700, which is estimated to be used for equipment expenses for digital content media, as specified.

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Marías Alarcón obtained almost 8 thousand Chilean pesos to create his NFT. Fountain: Culture Funds.

The Matías Salvador Alarcón Vargas project, which was under evaluation for more than five months, was one of the 28 winners of the “creative economy promotion line”. The call to apply for the funds was from July to August 2021, as it is done every year.

FONDART’s objective is to support the development of the arts, the dissemination of culture and the conservation of Chile’s cultural heritage. It currently has an open call to submit applications for the next edition of artistic projects seeking funding.

The FONDART fund for the development of NFT caused inconvenience in the networks

Ehe FONDART prize awarded to the NFT project generated controversy on social media