Blockchain artists and cryptocurrency exchanges are breathing new life into non-fungible tokens (NFTs) as they launch NFT-focused fundraising campaigns to fund philanthropic initiatives, The South China Morning Post (SCMP) reports.
According to the report, Pakistani artist Maliha Abidi launched her NFT collection called "Women Rise" with 10,000 tokens on Rarible. Speaking to SCMP, Abidi said she wants to donate part of the proceeds from the sale to advocacy groups that supports equal rights for women like the Malala Fund.
Abidi is not alone in her endeavors. Earlier this year, artist Jon Burgerman from New York donated 4,000 BUSDs — a Binance-issued stablecoin — earned from selling NFTs to the Binance food initiative in Uganda. Helen Hai, Head of Binance charity and NFT, says NFTs have "intrinsic value that can appreciate over time" which is why donating through an NFT "may provide a relatively higher value."