By
Steve Muchoki
April 19th, 2024
Ubisoft has launched blockchain-based Rabbids collectibles to raise funds that will allow to support the initiatives of UNICEF.
While most governments initially placed regulations stiffening the growth of the technology, UN agency UNICEF became the first United Nations agency to adopt blockchain technology and cryptocurrencies with the creation of UNICEF cryptocurrency Funds. In a bid to contribute to the fund, French-based gaming giant Ubisoft Entertainment SA (EPA: UBI) has launched blockchain-based Rabbids collectibles which comes off as a playable game. The funding initiative was launched with the release of 55 Rabbids collectibles representing tokens on Ethereum‘s blockchain and the tokens are represented by ERC-721 Non-Fungible Tokens or NFTs.
When blockchain technology came into limelight in 2009, with Bitcoin debut, the world acted oblivious to the potential of the emerging technology. As the years rolled by and the use cases of blockchain skyrocketed with the creation of more cryptocurrencies like XRP and Ethereum, tech developers, business leaders, and governments around the world started acknowledging the disruption the technology has come to stir. Now, as you see, the technology can offer many more options.
How the Rabbids Collectibles Offered by Ubisoft Work
The Rabbids Tokens are original collectibles created by Ubisoft’s Strategic Innovation Lab. Players can neither resell nor keep the Rabbids forever, they are “always-for-sale,” meaning that at any time, another player can nab one from its owner if they pay for its indicated value, in Ethers cryptocurrency.
When the Rabbids belonging to someone else is acquired, a token certificate called “Proof of Plausible Ownership” (POPO) is issued to the previous owner with an incentive to keep growing their collection. The Rabbids have a dynamic nature with the ability to transform and take the shape of another animal whenever it gets a new owner. Each time a Rabbid is purchased, the corresponding transaction amount will be sent directly to UNICEF’s cryptocurrency funds using Ethereum (ETH).
Does Ubisoft Have the Resources to Pull This Off?
The answer is Yes! Ubisoft is a highly technologically focused company that has created some of the most popular games in the world today including Assassin’s Creed, and Prince of Persia. The company has over 16,000 developers and based on its decades-old history, the company has never had a dearth of technological innovations and this would not be an exception.
UNICEF will utilize the funds obtained to promote children’s rights and welfare around the world. The adoption and promotion of donations in cryptocurrencies through the crypto fund is also part of the agency’s target to embrace and harness the potential of digital economies in making the world a better place.
In promoting UNICEF’s goals, Ubisoft’s plans to support the agency will help expedite like minds to follow suit thus promoting investor’s contributions to UNICEF and making the world a better place for children.