The R Wood Family Foundation Inc. and the family of deceased former NYPD police detective, Ray Wood, announced a college scholarship to encourage minority college students to study criminal justice. "The Ray Wood Scholarship aims to support police reform by assisting individuals with a passion to promote change from within," said the scholarship's founder, Reggie Wood, Ray Wood's cousin. The scholarship will be funded with proceeds from an NFT based on a letter written by Ray prior to his death in November 2020. This letter, which Reggie Wood first read during a press conference at the Malcolm X and Dr. Betty Shabazz Memorial and Educational Center in New York City on February 20, 2021, is the R Wood Family Foundation's initial foray into the NFT category.

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