KEY POINTS
Steve Sax, a former professional player and coach in Major League Baseball (MLB), has ventured into the realm of non-fungible tokens (NFTs) as a means to commemorate his late son and support a noble cause.
Tragedy struck on June 8, 2023, when Sax’s son, Captain John J. Sax, USMC, lost his life in a training accident in the Southern California desert. To honor his son’s memory and his passion for aviation, Steve Sax, alongside his family, established the Captain John J. Sax Foundation. The foundation’s mission is to support those who choose to further their education, exploration, and passion for flight.
In a bid to raise funds for the foundation, Sax opted to turn the iconic “Babe and the Kids” painting into an NFT for sale. This artwork, created by painter Opie Otterstadt over the span of eight years, caught Sax’s eye back in 2008 at an exhibit in NYC, eventually leading him to purchase it.
The painting features a gathering of baseball legends, including the renowned George Herman “Babe” Ruth, whose career in MLB spanned 22 seasons from 1914 to 1935, solidifying his status as one of the greatest players in the sport’s history.
The foundation has made 200 NFTs available, with 150 designated for sale. Each NFT is priced at $15,000, granting holders a voice in determining the allocation of grants and scholarships facilitated by the foundation.
Sax’s initiative is part of a broader trend of leveraging NFTs to support charitable endeavors. In January 2023, Macy’s contributed $4.8 million to the Big Brothers Big Sisters of America program, with a significant portion of the funds derived from the sale of NFTs.
Similarly, in 2022, Terrence Floyd collaborated with Confront Art to release 9,000 NFTs honoring the memory of his brother, George Floyd, and advocating for justice. Each NFT served as a tribute to the countless black lives lost to gun violence and police brutality in the United States.
