Subscribe to Entrepreneur for $5

How a Blockchain Company Is Harnessing NFTs to Promote Social Good

Binance Charity and Binance NFT chief Helen Hai shares how NFTs can be made into a powerful charity vehicle.

Opinions expressed by Entrepreneur contributors are their own.

In her work for Binance, Helen Hai combines her two passions, charity and NFTs. And she recently sat down with us to discuss how her company devotes significant resources for global charity work and how she sees the NFT market evolving in the future.

Helen, tell us about your company.

Binance Charity advocates a simple mantra: You don't need to become a super-successful company in order to do good for society. So four years ago, when Binance started, we realized it's important in the Fourth Industrial Revolution to empower the bottom billion people. [Binance founder] CZ decided to set up Binance Charity because we believed that today we should not leave anyone behind.

Related: A Crypto CEO and Founder Just Became One of the World's Richest Billionaires

Binance has been advocating NFTs for social good. What can you tell us about that?

Last year, Binance NFT and Charity launched the NFT for Good campaign, showcasing artwork from three different contemporary artists as a charity project to support children in need worldwide. Another Binance Charity flagship project is Lunch for Children, which provides meals for schools across Africa. We also have the Smile Angel Foundation, a charity dedicated to supporting children born with congenital defects. Another NFT for Good campaign we put together with digital artists is Crypto Against Covid. And as our contribution to the fight to protect our planet, we've launched our most ambitious project yet, planting 10 million trees worldwide.

Speaking a little bit more broadly, what else do you think we can expect from NFTs in 2022?

Number one: mass adoption. Number two: GameFi. Number three: disruption of the traditional market, such as music, ticketing and entertainment. Number four: dynamic NFTs that integrate with real-world events.

To elaborate on these four points, we should talk about the fundamental vision of blockchain and crypto. The purpose of the internet was to allow the free transfer of information globally. The purpose of blockchain should be to allow the free transfer of value. Cryptocurrencies are just the first chapter of setting up the infrastructure. NFTs are really the next chapter in repurposing the blockchain to enable the free transfer of value. And mass adoption is coming from NFTs. We can see that NFTs are an asset class already, and also a tool for engaging fans and art lovers, and this will continue to grow this year. I also believe the NFT avatar trend will keep growing.

The second trend I mentioned is GameFi. Traditional free-to-play developers will jump into the blockchain NFT-gaming industry, and we're going to see some flagship names coming into the space before the year's end. That's really going to push GameFi to the next level.

Another disruption of traditional markets we'll see in music ticketing. The growing popularity of NFTs has created more utility in the physical world, including exclusive access to personal perks, luxury items and services. Celebrities have embraced NFTs for better connection with their fans, and also as a method for selling exclusive content such as records, photos or branded fashion collections; the higher the demand, the more expensive the item.

I'll give you an example. We collaborated with Lewis Capaldi to create an exclusive NFT Mystery Box collection. The holders of those mystery boxes received various perks, such as a signed guitar, a studio session with the star, tickets to secret live shows, etc. We've seen this wave coming — NFT integrating more into real world events.

Related: It Takes a Village: How Blockchain, Crypto and NFTs Ensure Digital Trust

What advice can you give entrepreneurs who are looking to get into the blockchain space?

Read and learn. I think it's very important first to understand the technology, to know what's going on, before you can actually play and invest. There's a lot of content and information on the internet. I really encourage anyone interested to first just read. Understand what an NFT is, how to create an NFT, what is DeFi, etc. That will give you the fundamental knowledge of the infrastructure before you can become a player.


The Co-Founder of a Diversity Recruitment Platform Shares How Her Company Is Helping Underrepresented, High-Quality Employees Get Hired

The CEO and co-founder of Joonko shares how her platform is helping companies automatically source underrepresented, high-quality employees and her tips for executives trying to improve their D&I efforts.

André Vener of Dog Haus on Effective Branding Strategy

Interview with Dog Haus partner and co-founder André Vener about launching successful modern restaurant brands, thinking outside the box, franchising, and scaling with ghost kitchens.

Top 3 Little-Known Productivity Mistakes

Are you struggling to stay on task? Well these three little-known mistakes might be tanking your productivity without you even knowing.

How One Startup Is Trying to Revolutionize the Low-Code/No-Code Industry

The CEO and co-founder of Zenity shares how his company is dedicated to governance and security for low-code/no-code applications.

4 Things to Do When You're in a Negotiation

The executive director and CEO of WIN Summit shares her advice for entrepreneurs looking to elevate their negotiation skills.

Matt Horn on Finding Purpose in Family and Flames

In-depth interview with CEO, pitmaster, and James Beard Award Nominee Matt Horn about growing his global food brand with social media, operating multiple restaurant concepts, and why he decided to "burn the boats."

This Entrepreneur Believes the 9-to-5 Work Week Is Dead. So She Created a Platform That Matches Talent With Project-Based Work.

The founder of NuuWork shares how her company will help people navigate the future of project-based employment.

How This Company Is Helping Ecommerce Brands Scale and Grow

The co-founder of 8fig shares how his platform is helping online sellers plan and execute their growth around their supply-chain needs.

Eitan Bernath on Becoming a Teenage Food Entrepreneur and Social Media Star

In-depth interview with cookbook author, food personality, and content creator Eitan Bernath about starting an entertainment career as a child, teaming up with Drew Barrymore, and building an inspirational business empire before his 20th birthday.

Ask Marc: Netflix Co-Founder Marc Randolph on Facing Challenges, Bringing on Co-Founders and Growth

In this episode of our new series 'Ask Marc,' the serial entrepreneur and mentor offers advice on how to get started.

3 Science-Backed Ways to Break Bad Habits

Become powerfully productive with these three patterns.

Meet the Co-Founders Making Conscious Shopping Easier

Goodbuy's Cara Oppenheimer and Cary Telander Fortin share how their browser extension helps consumers buy products with both their wallets and values front of mind.

Nina Manchev of Forte Tapas on Engaging Customers with Social Video

Interview with Forte Tapas owner and entrepreneur Nina Manchev about connecting with social media, learning to be confident on video, and appearing on Diners, Drive-ins, and Dives.

This CEO Believes We Need More Women In Crypto

Jaime Leverton, head of NASDAQ-listed Hut 8 Mining Corp., talks the future of digital currency with 'Entrepreneur.'

How to Create Your Path to Profit

Financial expert and author Michelle Jacobik is on a mission to help people be profitable, so she created the EnVision + Thrive Academy. She shares her journey to success, business tips and what you'll learn in her new book.

Discover Entrepreneur Series

Whether you need advice on how to get your business off the ground or you’re just looking for inspiration, our video series have something for everyone. Browse our library below to find a series that speaks to you and your interests.