1M euros in funding to save iconic fiat money sculpture | Crypto

1M euros in funding to save iconic fiat money sculpture

– A crypto startup has come to the rescue of the iconic Euro-Skulptur monument in Frankfurt, providing 1 million euros in funding over the next five years.
– The Frankfurt-based crypto startup Caiz Development saw a good marketing opportunity in supporting the sculpture by obtaining unique exposure.
– Through the funding, the firm was able to put its product board next to the 14-meter-high art installation bearing 12 yellow stars, which represent the original members of the currency union.
– The sculpture was erected in 2001 in front of the former European Central Bank headquarters to celebrate the introduction of the euro, and has since become a symbol of eurozone decision-making.
– The monument has seen trouble in recent years as it has been frequently vandalized, causing the Frankfurt Culture Committee to spend some 250,000 euros every year to keep the sign in proper condition.
– The committee sought sponsorship support from 110 banks to save the sculpture, but none of them wanted to support the Euro-Skulptur.
– Now, the iconic monument has been saved thanks to the cryptocurrency industry, which is often very skeptical about the existing fiat currency system.

1M euros in funding to save iconic fiat money sculpture

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