Updated on:12/01/2025 05:07 PM 
Helen Hai, the Head of NFT & Fan Tokens at Binance, shared her insights during the Paris Blockchain Week (PBWS) summit, stating that NFTs are "still in the very early stages of development." While digital art and music currently dominate the NFT landscape, the world's largest cryptocurrency exchange by trading volume believes we are just scratching the surface of their potential.
NFTs have experienced a surge in popularity, but Binance asserts that this nascent technology is only getting started. This year alone, we've witnessed major brands filing for trademarks related to NFTs, governments exploring ways to issue their own NFTs, and live NFT events taking place globally. The primary use cases today, as Hai suggests, revolve around art and music. NFTs empower artists by providing a direct channel to a global audience, bypassing traditional gatekeepers like galleries and curators. Similarly, they offer musicians a path toward greater independence from record labels that often control the rights to their creative work.
Hai identified a particularly exciting frontier for NFTs in the real estate sector. She argued that NFTs could deliver significant improvements in "efficiency in terms of timing and quality" for property transactions, thereby creating "a lot of value." One proposed application involves tokenizing every building into an NFT. If the property registry were on a blockchain, the buying and selling of homes, apartments, and land could be completed in days instead of months. Furthermore, property ownership would become completely transparent and easily regulated. However, Hai acknowledges that the main obstacle to adoption in real estate is a common crypto challenge: regulation and resistance from established industries. The primary concern, she notes, is, "what will happen to the traditional industry" if NFTs disrupt the property market?
The failure of traditional industries to embrace new technology is a well-documented phenomenon, especially in sectors lacking young talent in decision-making roles. For instance, only 12% of partners in UK legal firms are under the age of 35. Beyond the reluctance to adopt new tech, issues surrounding regulation are a major topic of discussion, with numerous panels dedicated to it at PBWS. However, Hai believes the key to advancing the NFT and blockchain ecosystem is improved dialogue, not just regulation. She states that,
"Regulation is a one-way street and it’s not what we need. What we need is better dialogue, which is a two-way street. You set up a regulation that you don’t fully understand and you start to regulate. If you don’t understand that, it will never work."
Hai acknowledges that the accessibility of NFTs remains a hurdle for mainstream adoption. Many people still don't know how to enter the crypto space, and concerns about the security of various platforms persist. With the sheer number of options available, Hai notes that it's overwhelming for newcomers to know who to trust. For this reason, she emphasizes Binance's intense focus on compliance. They aim to help users make informed decisions and determine which projects "should be sustained and what should be eliminated, not us." Hai says that "our cardinal principle at Binance is how we can put the users first." Her concern is that with so many projects to invest in within the blockchain space, people could lose everything by backing ventures that fail within a few years. Hai firmly believes that "technology works for people, and the human race should try to improve the way we govern."
NFTs have seen some unconventional use cases, but the underlying technology can be applied to many meaningful aspects of human life. One such avenue is through philanthropy. Hai also leads Binance Charity, Binance Charity, an organization that ensures 100% of all proceeds go directly to the end recipient. Binance Charity has launched several charitable initiatives leveraging NFTs, such as the Terra Millions project, which aims to plant 10 million trees through the sale of NFTs.
How do you envision NFTs being used in the future? Can we leverage this technology to create a better world? Share your thoughts with us on Twitter or via email.
