The United Nations Is Embracing NFTs

As Women’s Day is just almost a month, the intergovernmental organization United Nations (UN) is working on the event’s preparation and celebration. This year is special because the UN will make NFTs part of its plans.

NFT art collection called “Boss Beauty Role Models” will be in the spotlight on March 3. The release of this collection is set to take place at the UN New York-based headquarters.

The event will also include a series of panel discussions, in addition to the display of the Role Models collection.

The First-Ever Female-Focused NFT Exhibition

Boss Beauty previously launched on OpenSea marketplace in September; the NFT collection consists of 10,000 digital portraits that showcase “the beautifully diverse, empowered women.”

The collection is on a mission to spread the positive message “stronger together,” with global artists working together to create “real-life Boss Beauties throughout history, as well as modern Boss Beauties making history in the workforce today.”

The public auction of the collection will go live on March 2, the day before International Women’s Day. The proceeds of the auction will be contributed to the Boss Beauties Scholarship Fund for Women and Girls.

“Having a collection with such a strong and inspiring message be the first NFT art collection to display at the United Nations is truly monumental. Most importantly, it resembles our larger mission to empower Women and Girls at the forefront of technology, leadership, and creativity,” commented Lisa Mayer, Founder, and CEO of Boss Beauties.

Approval Of Tencent-Led NFT Project

The South China Morning Post announced in its latest post that United Nations had approved the Tencent-led project to form a technical framework and security standards for non-fungible tokens (NFTs).

After the approval, the project is expected to complete an initial draft by the end of 2022.

Tencent’s NFT project calls itself a technical framework for digital collection services based on distributed ledger technology (DLT). It is the first NFT standard to be approved by the international organization.

As part of the works, Tencent will team up with other partners including, Ant Group – Alibaba’s financial technology branch, China Academy of Information and Communications Technology, Beijing University of Posts and Telecommunications, the Laboratory of Zhejiang Experiment, Zhejiang University, and a Zhejiang-established innovation center.

In a public statement made, the leading multinational conglomerate company shared its vision: “The international standard aims to specify the technical architecture, technical flows, functional requirements, and security requirements for blockchain-based digital collectibles.”

Tencent highlighted the importance of educating people about advanced technology: “It could help drive a consensus and common understanding around the world on the formation of a technical framework for digital collection services.”

Although NFTs are not banned in China, the cryptocurrency ban prevents them from using public decentralized blockchain.

The government is developing its own network to accommodate digital collections, which are hosted on local blockchains and must be acquired in yuan. A number of Chinese IT companies are offering NFTs built on a combination of public and private blockchains.

The UN is one of the first intergovernmental organizations to adopt blockchain and NFTs.

In a previous statement, the United Nations stated that it was investigating the application of blockchain technology in efforts to fight against climate change and in the pursuit of a more environmentally friendly global economy.

As part of its drive to encourage others to take action against climate change, the UN has selected the blockchain platform Unique Network to host an NFT program.

“The United Nations has recognized NFT technology as a unique new medium for creative expression that can help amplify messages about climate action,” said the group.

“The U.N. wants to bring this innovative art form to the next generation of creators who stand to benefit from a technology that can help them amplify and monetize their work,” commented the project’s lead partner Unique.