Binance is a marketplace for non-fungible tokens (NFTs) and digital collectables, and the programme forms part of the company’s invite-only Trading Market initiative to spotlight local artists and creators from around the world while amplifying diverse voices and perspectives.
NFTs have become a popular digital transaction option for musicians in recent months. A growing roster of artists around the world is turning to this medium, which promises better security and eliminates intermediaries. Bloomberg observes that the shift of NFTs towards artists “may help arrest an erosion of earnings power tied to streaming sites such as Spotify and Apple Music that pay less than a cent per play, as well as from a year of lost touring revenue.”
Binance, who is currently a pioneer of this initiative in Africa, will feature content ranging from music, visual arts, gaming and sports. The campaign will debut alongside Binance’s previously announced Premium Event featuring other high-profile names and brands.
According to the company, the Binance 100 Creators campaign will see the artists launch exclusive NFT collections “exploring the intersection between technology and creativity”. These creators will also get to list their artworks in the first week of the Binance NFT marketplace launch.
Binance NFT says its platform offers a seamless user experience focused on ease of use and minimal transaction fees, and artists and creators can expect “deep liquidity and access to one of the largest communities in crypto, in addition to some of the highest available royalty payment rates.”
Binance NFT head, Helen Hai said: “The 100 Creators campaign was created to empower innovative but regional creators and introduce them to NFT collectors and enthusiasts around the world. We are very excited to work with these creators and hope to bring them to the mainstream of the industry.”
Binance Africa director, Emmanuel Babalola said: “We are especially excited to host African creators as we see the profound opportunity NFTs and the blockchain bring to the entire continent. As NFTs transform the digital art world, it is important that African creators are provided with an even larger platform with optimal solutions to reach a more global audience.”
M.I Abaga, who will launch a five-article NFT collection on the platform, said: “This is important to me because I believe technology and innovation will improve life. It’s an incredible opportunity to innovate and chart a course forward for creatives all over and I’m honoured to be a part of it.”