Connect with us

Entertainment

Fidelity Charitable launches NFT raffle amid crypto downturn

Source image: https://abcnews.go.com/Entertainment/wireStory/fidelity-charitable-launches-nft-raffle-amid-crypto-downturn-94100698

NEW YORK — Fidelity Charitable is getting into NFTs, the digital images that are registered on the blockchain, despite a torrent of bad news from the adjacent world of cryptocurrencies.

The nation’s largest grantmaker is sponsoring a raffle that ends Tuesday, where participants can claim one of the NFTs, which stands for nonfungible token, and 50 will win $1,000 to donate through a donor advised fund at Fidelity.

“The reason we’re doing this is we really believe there’s a whole new generation of givers and philanthropists out there,” said Amy Pirozzolo, head of donor engagement for Fidelity Charitable. “We want to be where they are and the channels they use and the formats they use and further encourage their generosity.”

Around 16% of Americans say they invested in cryptocurrencies, according to a poll from Pew Research Center last year. The demographic most likely to invest were men between the ages of 18 and 29, with 43% reporting that they had invested.

The blockchain is the technology that underlies the trading of cryptocurrencies, but it can also record the ownership of digital items like images, videos or Tweets. Fidelity said that 50,000 different wallets, potentially representing that many individuals, have already registered to create an NFT and potentially win the money to donate.

Contributions in cryptocurrency to donor advised funds at Fidelity exploded last year, growing from the equivalent of $28 million in 2020 to $331 million in 2021, Fidelity has said.

Speaking of the NFT project, Jacob Pruitt, president of Fidelity Charitable, said, “I think it’ll be a unique way to engage with next gen investors. It’s another way that I think Fidelity is innovating and leaning into a new space.”

Donor advised funds allow donors to claim a tax credit for charitable donations, but do not require them to give those funds away within any specific timeframe. Organizations that host DAFs, like Fidelity Charitable, also handle more complex donations, which includes exchanging the assets for cash and producing receipts for donors for tax purposes.

“Many of the nonprofits either can’t take on these assets or they have to hire outside counsel or people to staff to do it,” Pirozzolo said.

One reason for the jump in cryptocurrency donations is that until recently, their value had appreciated significantly. The cryptocurrency market saw a huge boom in 2021 with the price of Bitcoin, the first cryptocurrency, rising to an all time high of around $68,000 in November last year.

But the meltdown of Terra — a stablecoin, or a type of cryptocurrency that tries to peg its value to an asset like the U.S. dollar — in May brought down a series of major cryptocurrency businesses. Then, earlier this month, one of the largest cryptocurrency exchanges, FTX and related entities, suddenly filed for bankruptcy leaving both American and international users unable to access assets they held on the exchange.

James Lawrence, co-founder and CEO of Engiven, which facilitates cryptocurrency to nonprofits, including Christian ministries, observed that many people giving cryptocurrencies are making major gifts and that often those happen in the last quarter of the year. That means it’s too early to say how the cryptocurrency market’s fluctuations may impact donations this year. He said he doesn’t see people donating cryptocurrencies as that different from other donors.

“They just have a different asset to give and they’re going to give the most appreciated asset they can,” Lawrence said.

Of the more than 1.5 million nonprofits registered with the Internal Revenue Service in the U.S., Lawrence estimated that only four or five thousand could receive cryptocurrency donations directly.

“That’s a huge market that still doesn’t,” he said. He also has observed that many giving large donations in cryptocurrency (they facilitated one donation of $10 million in cryptocurrency assets) are the same types of people who give large donations in general, and not necessarily the younger demographics that are more likely to invest in cryptocurrency.

“Many of the largest gifts we’ve processed have been from an older demographic who have a tradition of giving large gifts in multiple asset classes,” he said.

Another organization, Endaoment, also facilitates cryptocurrency donations to nonprofit organizations as well as hosting pooled funds to benefit certain types of nonprofits. Robbie Heeger, the organization’s president and CEO, said besides that fact that nonprofits may receive donations from cryptocurrency donors that they wouldn’t otherwise, cryptocurrency proponents are also eager to draw in new users.

“This is a leapfrog opportunity for nonprofit organizations to move from paper checks” to cryptocurrency Heeger said. “And the crypto space is very focused on adoption flywheels, on ways to incentivize or encourage the traditional economy to migrate into the crypto economy.”

He encouraged newcomers to the cryptocurrency space to carefully research projects they might get involved with and to look for ones that have gotten outside audits from professional auditors.

Pirozzolo argued that the Fidelity Charitable promotion using NFTs is separate from the cryptocurrency ecosystem.

“This is really about the blockchain and having a fun way to celebrate with digital art the generosity of giving,” she said.

The company is paying for the cost of creating the NFTs, which includes a “gas” fee that pays for the creation and registration of the item, and also said that it has compensated the artists who made the images.

People who claim the NFTs will need to sign up for a cryptocurrency wallet that has access to the Polygon blockchain. The Fidelity Charitable NFTs will be hosted on the platform OpenSea.

Participants will see the NFT in their wallet when they sign up, but the art itself and the winners of the $1,000 tickets won’t be revealed until Giving Tuesday, Nov, 29.

———

Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.

Source: https://abcnews.go.com/Entertainment/wireStory/fidelity-charitable-launches-nft-raffle-amid-crypto-downturn-94100698

Continue Reading

Entertainment

Vatican Swiss Guard slayings back in spotlight with new book

ROME — The mother of a Swiss Guard member accused of committing one of the most sensational crimes in recent Vatican history – fatally shooting his commander and the senior officer’s wife before killing himself — is turning to the United Nations and Pope Francis in hopes of getting some closure nearly a quarter-century after the slayings.

Muguette Baudat was on hand Tuesday as her lawyer, Laura Sgro, a veteran defense attorney in Vatican criminal trials, detailed her efforts to pry information out of the Vatican and access the court file into the May 4, 1998 slayings that are recounted in Sgro’s new book, “Blood in the Vatican.”

“I’ve been waiting for more than 24 years, so I don’t expect anything,” Baudat said at a book launch event. But she added: “The book is very important.”

Within hours of the slayings, the Vatican spokesman announced that Baudat’s 23-year-old son, Cedric Tornay, a noncommissioned Swiss Guard officer, had killed Col. Alois Estermann and Estermann’s Venezuelan-born wife, Gladys Meza Romero, with his service revolver and then turned the gun on himself. The spokesman said a buildup of resentment over a reprimand by Estermann and the denial of a decoration, combined with a ″peculiar″ psychology, led to Tornay’s violent acts.

Nine months later, in February 1999, the Vatican released a 10-page summary of its internal investigation that confirmed its initial assessment. It concluded that Tornay was solely responsible for the murder-suicide but added that his marijuana use and a brain cyst the size of a pigeon’s egg could have impaired his reasoning.

Baudat spent two decades campaigning for more information and hired Sgro in 2019, asking for the Vatican investigation to be reopened. She said her request was not spurred by a belief that the Vatican was responsible, but rather to end the secrecy with which it has always handled the case.

Last year, the Vatican secretary of state intervened personally in the case and asked the Vatican tribunal to pay “particular attention” to Baudat’s request. Sgro was granted access to the court file.

In the book, Sgro details what she found in the file, as well as the conditions imposed on her by the Vatican prosecutor for viewing it: She wasn’t allowed to make copies but could only view the documentation in the tribunal, with two gendarmes standing behind her back monitoring her at all times. She was allowed to take some notes but not too many since she was explicitly barred from copying the text. She had to submit her notes to the prosecutors’ office after each viewing session, which took place over the course of a year.

And what she discovered in reading the court file, she said Tuesday, “confirmed all the doubts that the mother had about an investigation conducted in an absolutely superficial way.”

Sgro noted that at least 20 people were allowed access to the crime scene in the moments after the slayings, including chaplains, monsignors and the Vatican spokesman, none of whom wore protective gear. No fingerprints or blood samples were taken, and no DNA tests performed.

A handwriting analysis of a letter, purportedly from Tornay to his mother and foreshadowing the killings, was done on a photocopy, not the original document. The corpses were moved around the Estermann apartment, as was furniture, according to 38 photographs taken by a Vatican newspaper photographer that were in the court file. Autopsies were performed not in a hospital morgue but in the crypt of a chapel inside the Vatican walls.

“After one hour, Cedric was given up as the guilty one and the investigation was built around this, and this is absolutely the most alarming thing,” Sgro said.

The lawyer alleged that the conditions in which she was forced to work to view the file, as well as the mother’s long fight to find information about her son, constituted human rights violations that should be taken up by the U.N. Human Rights Council in Geneva.

There was no indication Tuesday whether the U.N. might take up her case, since such complaints must show a consistent pattern of “gross violations” of human rights, such as the policy of apartheid in South Africa.

Sgro said she had little other recourse since the Holy See is not a signatory to the European Convention on Human Rights, and therefore not a party to the European Court of Human Rights in Strasbourg, where such appeals would normally be heard. The Holy See enjoys observer status at the U.N. and has received criticism from U.N. human rights experts over the clergy sexual abuse scandal.

Sgro said she sent a copy of “Blood in the Vatican” to Pope Francis and he responded with a personal letter. His response, she said, gave her hope that the Vatican might be ready to acknowledge that its original investigation was flawed and that Tornay’s legacy might somehow be rehabilitated even if he is confirmed as the killer.

“It’s a small drop after 24 years of silence,” Sgro said. “Let us hope this drop becomes a glass of water, then a lake.”

Continue Reading

Entertainment

Clarence Gilyard, ‘Die Hard’ and ‘Matlock’ actor, dies at 66

Clarence Gilyard Jr., a popular supporting actor whose credits include the blockbuster films “Die Hard” and “Top Gun” and the hit television series “Matlock” and “Walker, Texas Ranger,” has died at age 66

NEW YORK — Clarence Gilyard Jr., a popular supporting actor whose credits include the blockbuster films “Die Hard” and “Top Gun” and the hit television series “Matlock” and “Walker, Texas Ranger,” has died at age 66.

His death was announced this week by the University of Nevada, Las Vegas, where he taught stage and screen acting. Additional details were not immediately available Tuesday.

“Professor Gilyard was a beacon of light and strength for everyone around him at UNLV,” the school’s film chair, Heather Addison, said in a statement. “Whenever we asked him how he was, he would cheerfully declare that he was ‘Blessed!’ But we are truly the ones who were blessed to be his colleagues and students for so many years.”

Gilyard was a Moses Lake, Washington, native. He had a prolific career as an actor, starting in the 1980s with appearances in “Diff’rent Strokes,” ”The Facts of Life” and other shows. He then appeared in two of the biggest movies of the decade: “Top Gun,” in which he played Sundown, a radar intercept officer, and “Die Hard,” when he was featured as a villainous computer maven whose one liners included “You didn’t bring me along for my charming personality.”

In the 1990s, he was on the side of law enforcement in “Matlock,” playing opposite Andy Griffith, and “Walker, Texas Ranger,” which starred Chuck Norris. His other credits include “The Karate Kid: Part II,” a stage production of “Driving Miss Daisy” and an appearance alongside “Die Hard” star Bruce Willis in a commercial for DieHard batteries.

Continue Reading

Entertainment

Review: Slice into the holiday spirit with ‘Violent Night’

The holiday season is upon us and how better to celebrate than watching Santa slip several pool balls into a Christmas stocking, swing them in the air menacingly and see him cave in someone’s face?

Such is “Violent Night,” a film that clearly no one wanted but somehow nicely acts as a chaser to all the sticky sentimentality this time of year. It is billed as an “alt-Christmas action-comedy” and it may be a litmus test of who is your real tribe: If you think watching Santa try to strangle a guy with Christmas lights is funny, this is the film for you.

Directed by Tommy Wirkola, “Violent Night” has taken the season’s naughty or nice dichotomy deeply to heart, offering pounds of gore and wounds that spurt mini-fountains of blood along with tooth-aching sweetness about believing in Santa and the true meaning of Christmas.

It’s easy to initially dismiss it as an “SNL” digital short that got high on its own tinsel but there is a sort of perverse glee to seeing Santa suck on the tip of a candy cane until it is a sharp shard and then plunge it into a bad guy’s neck. Isn’t it time for Kris Kringle as a sociopath?

Few people can balance all these demands as Santa except David Harbour, who specializing in gruff-on-the-outside, sweet-on-the-inside teddy bears. This time, his beard soaked in blood, he must save an ultra-rich family from a murderous group of home invaders with automatic weapons and military training.

On his side: “Christmas magic,” which he reveals multiple times he does not understand and which allows the screenwriters — Pat Casey and Josh Miller — a yuletide-sized logical loophole. They’ve even given Santa an origin story as a centuries-old Viking raider with a fondness for crushing skulls with a hammer. He’d be on the naughty list, naturally.

We initially meet Santa in the present day at an English pub. It’s Christmas Eve and he’s hammered. There are other men dressed as Santas this night, but they’re just pretenders, like “Bad Santa.” He’s the real thing.

Tonight, Santa is worn-out and fed-up. The children these days just demand more and more presents — just grubby consumers. He even calls them junkies. “I forgot why I started doing it in the first place,” he says. “Maybe this is my last year.”

During his rounds, he happens to linger too long at the Lightstone family compound in Connecticut. A ruthless gang has just stormed inside hoping to relieve the family of $300 million and trapping Santa with just his magic bag of presents and a pent-up desire to hurt people.

John Leguizamo, so often the comedy relief in films, here is as heavy as it gets, an anti-Christmas madman who tortures with a nutcracker and gets some of the best over-the-top lines like “Christmas dies tonight” and “Time to kill Santa.” The film soon moves into “Die Hard” territory as terrorists play cat-and-mouse with a good guy inside the building.

Santa connects with one of the hostages — a little girl (Leah Brady, sparkling like an ornament) — who still believes in Santa. “You are more than the presents you bring,” she tells him. And so he proves that Christmas is indeed alive by systematically murdering every single bad guy and girl with a sledgehammer, aided by his new friend’s “Home Alone” boobytrapping skills and all to a soundtrack of Christmas songs by Burl Ives, Bryan Adams and Slade.

This is not a Norman Rockwell vision of Santa, of course. He has a torso full of tattoos and sutures his own wounds with Christmas tree ornament hooks. He vomits, impales baddies in spiky Christmas decorations and uses the sharp parts of a pair of ice skates with surgical precision. Few films have earned their R rating better. All that’s missing is you as long as you think it’s time to add a little blood to Christmas?

“Violent Night,” a Universal Pictures release that opens nationwide in theaters Friday, is rated R for “strong bloody violence, language throughout and some sexual references.” Running time: 112 minutes. Two and a half stars out of four.

———

MPAA definition of R: Restricted. Under 17 requires accompanying parent or adult guardian.

———

Online: https://www.violentnightmovie.com

———

Mark Kennedy is at http://twitter.com/KennedyTwits

Continue Reading

Trending