Solana Auction Raises Over $157K for Nepal Flood Relief

The Solana Foundation has come up with an innovative way to raise funds for Nepal's flood relief efforts. The organization is auctioning off nine logo placement zones on its official X profile picture and a pinned post, with all proceeds going towards helping victims of the devastating flash floods.

By early September 1, the auction had already pulled in over $157,000 in USDC bids, with crypto gambling platform Rollbit dropping $50,000 for the coveted Middle Centre spot on Solana's PFP. The fundraiser was built in collaboration with mallow, a platform that facilitated the auction through a dedicated site at nepal.mallow.art.

Winners get their logo featured on the Solana PFP and in a pinned post for one week, with bids placed in USDC to avoid market volatility. All proceeds from the auction are directed towards Nepal's Prime Minister's Disaster Relief Fund.

The disaster has left thousands without homes, roads, or access to basic services, with estimates suggesting as many as 900 people may have lost their lives. The crypto industry has already shown its support, with Ripple pledging $300,000 for Nepal flood relief efforts around August 29-30.