One of the leading cryptocurrency exchanges, AAX recently announced the launch of the AAX Impact Lab, which is focused on fostering innovation in the crypto and blockchain space. The AAX Impact Lab is a collaborative research-focused team dedicated to exploring and sharing new ways digital assets can make the world a better place, hoping to foster meaningful encryption by highlighting the important social and environmental issues this technology addresses use.
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The influence of NFT in the community
As more and more people join the NFT field, newer projects must consider adding social elements to their roadmap to strengthen legitimacy. For example, Solana's offshoot project Not Okay Bears contributed to the Mental Health Impact Index The foundation donated 35.8 ETH. In addition, the community can continue to grow by partnering with other communities with similar values to increase brand awareness. For example, VeeFriends founder Gary Vaynerchuk hosted VeeCon, a highly anticipated conference in the NFT community, and invited other project founders to serve as speakers.
As we have seen, NFT projects can also establish different partnerships with major sports, fashion and lifestyle brands to attract more members and funds into their communities. For example, China's Lining used the boring ape to open an offline exhibition in Sanlitun, Beijing, and cleverly achieved cross-border marketing.
In addition, the NFT community is using various interesting and attractive ways to gather people together to support important public welfare activities. Although NFT is currently only serving as a cultural icebreaker, allowing people from all over the world to share their passions, the real value of the NFT community lies in its ability to guide social and financial capital with unprecedented ease and achieve powerful changes in the real world .
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The impact of NFT on the environment, social responsibility and corporate governance
Environmental, social responsibility and corporate governance (ESG) issues have attracted the attention of many investment funds, institutions and policy makers in recent years. In fact, many celebrities have taken the lead in the NFT field. For example, the supermodel Kate Moss donated the proceeds from the sales of NFT videos of herself sleeping to GurlsTalk, a women’s mental health concern organization, and the British supermodel Cara Delevinge auctioned off her private parts. Fundraising for a foundation she founded that focuses on women's and LGBTQ rights. Facing the humanitarian crisis in Ukraine, many people choose to help through cryptocurrencies and NFT.
The Impact NFT Alliance is organized by a contract to share sustainable development and mutual supervision among different companies around the world, and encourage companies to become advocates for the application of Impact NFTs. They outlined a core idea in their industry-leading "Purple Paper": companies only need to donate part of the funds sold by NFT to NGOs or charities, and NFT can simultaneously meet the company's brand equity marketing and corporate social responsibility Two big needs. This can not only promote cooperation between the creative industry and NGOs, but also open up certain economic sources for the artists behind NFTs, and at the same time educate the public about various sustainable development initiatives.
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NFT and music - liberating the shackles of musicians
As Web3 applications become more widespread and valued, power is shifting from centralized intermediaries to individual creators. Similarly, music NFT liberates artists from the shackles of record companies by endowing musicians with non-tamperable ownership rights, transparent accountability mechanisms, and programmability for the transfer mechanism of their own works. This unprecedented artistic independence not only rewrites the economics of music production, but also the culture of music consumption—in favor of quality over quantity, collaboration over competition, connection over exclusivity.
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AAX Impact Lab will continue to expand its influence
Since many concepts in Web3 are still new and experimental, the AAX Impact Lab report is more exploratory in nature than analytical. According to Timthoy, head of the AAX Impact Lab, the next phase will involve topics such as Web3 digital identity, Soulbound tokens, decentralized social media, and an open metaverse.
AAX is favored by more than 3 million users in more than 160 countries around the world. Not only is it the first exchange to use Satoshi Standard (SATS) to promote the application of Bitcoin, but it is also the first trading platform driven by London Stock Exchange Group (LSEG) technology.
AAX Impact Lab hopes not only through content distribution, but also through partnerships to achieve impact expansion. For example, AAX Impact Lab partnered with Elle to launch the Impact NFT campaign as part of its debut. AAX Impact Lab will be committed to bringing social impact investing and sustainable development awareness to the digital asset field for a long time.
