As NFTs continue their grab for the limelight, some have harnessed their capabilities for the benefit of the underprivileged. BeInCrypto spoke to Pakistani influencers and NGO founders Bilal Bin Saqib and Momin Saqib about NFTs for charity and their place in Pakistan.
Over the last year non-fungible tokens (NFTs) completely turned the crypto world upside down. Moreover, these digital assets penetrated to the mainstream like few other crypto-related innovations.
In the world of sports, the combination of fan tokens and NFTs reimagined the definition of a sports fan. The music industry is no different. Through non-fungible tokens, artists now have more control over their content monetization, interactions with fans, and royalties like never before.
However, beyond these use cases NFTs can have significance in a life changing way. These digital assets are increasingly used as a part of charity initiatives for underserved communities or social initiatives.
NFTs and Giving Back
The idea of NFTs and giving back is not new. Though there are constantly new, innovative ways in which those two things come in sync for a greater cause.
Last year BeInCrypto launched its own NFT project with Exquisite Workers in a fundraising effort for the Open Earth Foundation. In addition, NFT art by Beeple sold for $6 million as an initiative to raise funds for the same charity. Other artists have offered a combination of physical and NFT incentives for a cause.
In Pakistan, Brothers Bilal Bin Saqib...
Read Full Story: https://beincrypto.com/pakistan-fundraising-for-charity-via-trading-nfts/
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