Whether it be digital securities, non-fungible tokens (NFTs), digital currencies, or even utility tokens, one thing is clear – blockchain based assets have the ability to affect a wide range of industries. As a result, an equally wide range of investors are drawn in by their allure – Bitcoin maximalists find themselves trading on the same platforms as investors interested solely in NFTs. In order to capitalize on this broad appeal, exchanges have been working hard to branch out, and support this growing stable of asset classes. The following is a fresh example of this by world leading exchange, Binance.
Innovative Creators Program
In an effort to both capitalize on, and support the growth being seen surrounding NFTs, Binance recently announced the creation of its ‘NFT Innovative Creators Program’.
This program, which is currently accepting applications, will see select content creators get their NFTs listed on the soon-to-launch Binance NFT marketplace. For those successful few, Binance notes the following as associated perks.
- Get your collectibles featured on Binance NFT during our first month of launch. With limited spots available, your collectibles will be accessible for more NFT enthusiasts and collectors, as well as one of the world’s largest crypto communities.
- Get paid for your work. Creators receive 99% of proceeds from their first NFT sale, as well as 1% royalty payment from subsequent NFT trades.
- Your collectibles have the chance to be featured on Binance’s official social media channels, which reaches an audience of millions.
While the validity of the hype surrounding NFTs can be debated, one thing is for certain – they are changing the way content creators monetize their work.
If you are looking for a refresher on what NFTs are, and the potential they hold for reshaping content monetization, make sure to peruse our look in to how they are reshaping markets HERE.
Aside from the aforementioned program being launched by Binance, there have been multiple developments in recent days surrounding the adoption of NFTs. Examples of this have come from both professional athletes and major companies.
In early June, Floyd Mayweather will square off in a boxing match against…Logan Paul – a divisive YouTube personality. This is not a match meant to highlight boxings best, but rather a publicity stunt pitting an unlikely underdog against an all-time great.
While Mayweather may have gotten off to a rocky start with his involvement in digital assets, this hasn’t stopped one of the greatest boxers of all time from recognizing and trying to capitalize on the hype behind NFTs. Prior to the upcoming match, a series of NFTs which ‘celebrate the legacy of Mayweather’ will go on sale including,
This move marks a continued interest in NFTs shown by athletes, with the NBA arguably leading the way.
When it comes to online auction sites, there is one constant which everyone has heard of – eBay. Keeping with the times, eBay has also recently announced conditional support for the sale of NFTs on its platform. A move such as this has the potential to put NFTs front and centre among an audience that may never have heard of such assets to date.
While the decision by eBay to allow the sale of such assets on its platform has the potential to expose the asset class to the masses, there have already been many instances of NFT sales taking place among traditional auction houses such as Sotheby’s, and Christie’s.