The Future of Crypto: What are the next big trends? By Anndy Lian | JCI Startup

The Future of Crypto: What are the next big trends? By Anndy Lian | JCI Startup

Anndy Lian, an intergovernmental blockchain expert shared his vision with JCI Startup. It’s clear that several key shifts are poised to reshape the crypto world:

Artificial Intelligence (AI) and Crypto Synergy
Artificial intelligence has long been an enabler of innovation, and its integration with the crypto space is no exception. AI-powered trading applications are gaining traction, offering both newcomers and seasoned traders insights and predictions about market behavior. By leveraging AI algorithms and advanced data analytics, platforms like Bybit’s Tools GPT provide real-time trading advice based on aggregated statistics and historical patterns.

Furthermore, AI’s influence extends beyond trading. AI-driven relationship projects are becoming prevalent, with users interacting with AI personas and companions. This symbiotic relationship between users and AI fosters engagement and community building. As AI becomes more integral, creators will likely monetize their AI’s capabilities, ultimately shaping new economic models within the crypto ecosystem.

Central Bank Digital Currencies (CBDCs) Revolutionize Finance
The advent of Central Bank Digital Currencies (CBDCs) marks a significant shift in financial paradigms. CBDCs hold the potential to revolutionize transactions by offering traceability, accountability, and tax compliance. This enhanced transparency could lead to a seismic change in the cryptocurrency landscape, bridging the gap between traditional finance and digital assets.

CBDCs’ ability to track and verify transactions could provide a comprehensive understanding of financial flows. This heightened oversight could redefine how cryptocurrencies are viewed and integrated into global economies, potentially driving mainstream adoption.

Decentralization and the Quest for Privacy
Decentralization has long been a foundational principle of cryptocurrencies. However, the rise of decentralized applications (DApps) and peer-to-peer networks heralds a new era of heightened monitoring and governance. These systems are increasingly being developed with built-in mechanisms to strike a balance between privacy and security, aligning with regulatory frameworks.

As decentralized governance gains prominence, organizations will collaborate on decisions, ensuring a more inclusive and diverse representation of stakeholders. The ongoing evolution of decentralized technologies, combined with AI’s role in regulating these networks, is shaping a more automated and structured crypto environment.

NFTs and Beyond: The Next Phase of Digital Collectibles
Non-fungible tokens (NFTs) have surged into prominence, redefining digital ownership and creativity. While NFT sales volume has experienced fluctuations, their adoption has steadily grown thanks to collaborations with established brands. Examples such as Oracle Red Bull Racing’s Velocity Series highlight the potential of combining NFTs with well-known entities to engage audiences and create new communities.

The evolution of NFTs extends beyond art and collectibles. The integration of NFTs in titles deeds, medical records, and property ownership could revolutionize industries reliant on trust and provenance.

Security Tokens (STOs) and Commodities on the Blockchain
Security tokens (STOs) are redefining how financial assets are represented on the blockchain. As traditional securities transition to tokenized formats, the bridge between traditional finance and blockchain strengthens. STOs empower investors with fractional ownership and enhance liquidity, ultimately broadening access to previously exclusive investment opportunities.

Commodities trading is also witnessing a transformation through blockchain technology. Tokenizing commodities enables fractional ownership, making these assets accessible to a broader range of investors. This innovation could democratize trading and investing in commodities, creating a more inclusive financial landscape.

Regulatory Clarity and Institutional Adoption
Regulatory clarity is emerging as a catalyst for institutional adoption of cryptocurrencies. Major financial institutions, including private banks and family offices, are exploring allocations in the crypto space. These institutions are recognizing the potential for diversification and growth that cryptocurrencies offer.

As regulations become more defined, institutional involvement is likely to increase, leading to a maturation of the crypto market. This trend could reshape the dynamics of the financial industry and contribute to the broader adoption of cryptocurrencies as legitimate investment vehicles.

In Conclusion

The future of cryptocurrency holds a myriad of possibilities, driven by the convergence of AI, regulatory developments, and innovative applications of blockchain technology. As trends continue to evolve, the crypto landscape is poised for transformation, reshaping traditional finance and pushing the boundaries of what’s possible in the digital realm.

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Why smart money is pushing the big idea of ‘purpose-bound money’: Opinion

Why smart money is pushing the big idea of ‘purpose-bound money’: Opinion

Recently proposed by Singapore in collaboration with fintech heavy hitters, PBM can be a powerful tool for promoting accountability and efficiency, writes Anndy Lian. But it’s not without risks.

The rise of digital assets has transformed how we handle financial transactions and engage with the global economy. From central bank digital currencies to stablecoins and tokenized bank liabilities, these digital representations of value offer the promise of faster, more inclusive, and more valuable transactions. However, to fully realize their benefits, we need to go beyond the capabilities of existing electronic payment systems.

One of the key advantages of digital money is its programmability, which allows for automated transactions, predefined conditions and streamlined financial processes. But there is an ongoing debate about how programmability affects money as a medium of exchange — a topic that is now resurfacing with the recent white paper on “purpose-bound money” published by the Monetary Authority of Singapore in collaboration with the International Monetary Fund, Amazon, DBS Bank, JPMorgan’s Onyx, Bank of Korea and others. Striking a balance is crucial to ensure programmability doesn’t compromise the fungibility and liquidity of digital money.

What is ‘purpose-bound money’?

Purpose-bound money, or PBM for short, introduces a unique concept that enables money to be directed toward specific purposes without directly programming the money itself. It achieves this through a standardized protocol that works with different ledger technologies and forms of money. Utilizing a wrapper implemented as smart contract code, it defines conditions for usage while preserving the underlying digital money’s integrity. This design allows for the deployment of digital money for various purposes without compromising its inherent properties.

It combines programmable payment and programmable money, providing a versatile framework for different use cases. Programmable payment executes payments based on predefined conditions, while programmable money embeds rules within the store of value itself. PBM strikes a delicate balance between the two, enabling directed usage without fragmenting liquidity or compromising money’s fungibility. It fosters interoperability within the financial infrastructure through a standardized protocol for interacting with different forms of digital money.

There are two main components: the wrapper implemented as smart contract code and the underlying digital money serving as collateral. The creator defines the logic, mints tokens and distributes them. The holders can redeem non-expired tokens, while redeemers receive the underlying digital money when tokens are transferred. The lifecycle includes stages such as issuance, distribution, transfer, redemption and expiration. Tokens are created and distributed based on programmed rules, and when conditions are fulfilled, they can be redeemed, transferring the underlying digital money to the recipient. Expired tokens can be destroyed or paused indefinitely.

Introducing new payment instruments brings changes in user experiences, requiring adjustment and familiarization. Different users may perceive these changes differently, with some embracing them positively and others finding them disruptive. To address this challenge, it’s crucial to consider the digital readiness of stakeholders when designing the PBM scheme. The user experience should be intuitive and accessible, especially for vulnerable populations. A simplified user experience can initially abstract away the complexities of managing keys to access digital money or PBMs. On top of that, it can be designed to be compatible with existing payment systems, reducing barriers in fiat settlement and merchant acceptance.

Given the reliance on smart contract code, establishing a robust governance framework becomes crucial to ensuring code safety during the software deployment process. Trusted entities can be engaged to verify the logic, assess vulnerabilities, and provide standardized oracle data. Independent audits are highly recommended to proactively mitigate potential security risks, such as malicious code. In distributed ledger-based networks, trusted third-party organizations can function as “oracles,” offering reliable external data inputs.

Potential use cases

PBM has a number of uses in different fields, delivering innovative solutions to problems and enhancing the efficiency of digital transactions.

In the realm of pre-paid packages, PBM can enable businesses to collect upfront fees before providing goods or services. By incorporating payment conditions, companies can ensure that a vendor has fulfilled its obligations before accessing the pre-committed funds. For online commerce, it offers a reliable alternative for secure online shopping. It reassures both merchants and consumers that funds will only be transferred once service obligations are met. This mitigates the risks associated with non-delivery or non-payment, fostering trust and facilitating smooth transactions.

In contractual agreements, it can be further utilized to establish payment structures based on terms outlined in property sale agreements. Funds can be released at different stages of property development or sales processes upon achieving specific milestones. This ensures controlled payments linked to the completion of significant stages.

PBM holds significant promise in areas like trade finance and commercial leases. Instead of traditional security deposits, PBM can be used to ensure full deposit recovery at the end of a lease. In case of disputes, it can be put on hold until resolution, offering a fair and transparent mechanism for conflict resolution. In trade finance, PBM can serve as a powerful tool for automating payments upon the fulfillment of service obligations, functioning as transferable negotiable instruments, streamlining trade processes, reducing paperwork, and enhancing overall efficiency.

Purpose-bound money can also contribute to donations by bringing greater transparency and accountability to the process. By ensuring that funds reach the intended beneficiaries and are used as intended, PBMs inspire confidence in donors and promote philanthropic activities. Moreover, by embedding policy requirements, automated compliance checks for cross-border payments become possible. This reduces costs, increases efficiency, and promotes regulatory and policy interoperability, ultimately facilitating smoother and more streamlined cross-border transactions.

PBM introduces a programmable approach to digital transactions, providing versatile solutions across various sectors. Its applications encompass all kinds of pre-paid packages, online commerce, contractual agreements, donations, and cross-border payments. Through these applications, PBM enhances efficiency, transparency and trust within the digital asset ecosystem.

As the digital money space continues to grow and evolve, the area is ripe for future research and development. Account abstraction and utilizing smart contract wallets or similar mechanisms can significantly improve user experience and security. Implementing features like account recovery, transaction limits and account freezing can also simplify user interactions without requiring an understanding of the underlying technology.

Additionally, research can explore the use of PBMs with offline payment options, without the need for a smartphone, ensuring financial inclusion and participation without the need for network connectivity. Implementing a name-addressing service can also enhance the user experience by providing a meaningful identifier mapping to a wallet address, ensuring transfers reach the intended recipients without relying solely on bank account numbers.

Risks and disadvantages

The nature of such money offers a system that promotes accountability and safeguards against fund misuse. However, it’s important to recognize that this approach also has implications for the flexibility of funds. While it ensures that funds are allocated for their intended purposes, it can limit the ability of individuals and businesses to reallocate or redirect funds when circumstances change or unexpected needs arise. The strict structure may pose challenges for managing the flow of funds and potentially affecting financial flexibility.

Implementing such systems is a complex endeavor that requires substantial technological infrastructure and integration. Organizations must establish robust systems to effectively track and manage funds according to their designated purposes. This implementation process demands expertise in financial management, technology integration, and compliance, making it resource-intensive. Smaller businesses or non-profit organizations with limited resources may face difficulties in adopting and managing it due to these technical complexities.

Proper management and oversight are essential for maintaining trust and transparency. Failure to execute with care could result in mismanagement, which undermines the integrity of the system and erodes stakeholder trust. To prevent such issues, organizations implementing should establish strong governance mechanisms, implement rigorous monitoring and reporting systems, and ensure responsible fund allocation.

PMB relies heavily on technology infrastructure, including digital platforms and payment systems, to facilitate transactions and track funds. While technological advancements have made digital transactions more accessible, they also introduce a level of dependency and risks. Organizations relying on it must ensure the availability, reliability and security of the underlying technology. Disruptions, technical glitches or cyber-attacks can impede access to PBM funds, leading to delays or difficulties in utilizing the allocated funds effectively.

Operating within existing legal and regulatory frameworks governing financial transactions, PBM must comply with regulations such as anti-money laundering (AML) and know-your-customer (KYC) requirements. Navigating these regulatory landscapes, particularly in cross-border transactions, can be complex. Organizations implementing that must ensure adherence to guidelines and fulfill reporting obligations. Staying updated with evolving regulations and maintaining compliance may require significant resources and effort.

To assess the suitability of adoption, organizations and individuals should carefully evaluate their specific needs, circumstances, and risk tolerance. Adequate planning, implementation, and ongoing monitoring are essential to address these challenges and maximize the benefits that purpose-bound money can offer.

Closing thoughts

This “new money” introduces a new paradigm for programmability within the digital asset ecosystem. By leveraging a wrapper that defines usage conditions and existing digital money, it enables directed usage without compromising the fungibility or medium of exchange function. This framework provides a standardized protocol for interacting with different forms of digital money, fostering interoperability within the financial infrastructure.

Policymakers should carefully consider the implementation of PBM-based solutions, addressing factors such as the authority responsible for issuing and distributing digital currencies and the establishment of clear usage conditions. Prioritizing user readiness, especially among vulnerable populations, is crucial to providing a simplified and intuitive user experience. Ensuring compatibility with existing payment systems, addressing concerns, and managing disruptions are vital for a smooth transition to PBM.

Deploying requires robust governance mechanisms and security measures. Independent audits, engagement with trusted entities, and standardized oracle data play a crucial role in ensuring code safety and mitigating security risks. Ongoing research and development are necessary to refine the user experience, explore new use cases, and unlock the full potential of fostering economic value and financial inclusion.

 

 

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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NFTs and Big Brands: Exploring new possibilities

NFTs and Big Brands: Exploring new possibilities

The surge in popularity of NFTs, which are unique digital tokens that cannot be replicated, has recently captured the attention of notable corporations. Big names such as Marvel (a subsidiary of Disney), Coca-Cola, Gucci, Pizza Hut, KFC, Taco Bell, Lamborghini, and Hot Wheels (which is owned by Mattel) have joined the frenzy by delving into novel ways of integrating NFTs into their advertising schemes. Consequently, there has been a surge of fervor and anticipation amongst the masses, with many enthusiasts itching to partake in this latest trend.

The value that the big brands bring to the table is tremendous, and this is the same topic that I presented at NFT NYC in April 2023- “Think Bigger In The Next NFT Summer”. The big brand will take the lead. They are utilizing the distinctive properties of NFTs to enhance customer interactions and experiences, boost brand recognition, stimulate purchases, and promote diverse campaigns.

They generate and vend NFTs, providing patrons with exclusive and distinctive digital items like virtual collectibles, artwork, and experiences. These NFTs are singular and unrepeatable, thus giving them a high intrinsic value that’s coveted by consumers. I will walk you through some examples.

Starbucks

Starbucks has entered the cryptocurrency world with a new rewards program named Starbucks Odyssey, developed using the Ethereum scaling network Polygon. This program offers customers an exciting opportunity to acquire and earn collectible non-fungible token (NFT) stamps that can be used for various purposes. Starbucks chose Polygon over other blockchains because of its “proof-of-stake” blockchain technology, which consumes less energy than first-generation “proof-of-work” blockchains.

The demand for Starbucks Odyssey has been unprecedented and garnered an overwhelming response from the initial beta testers. Since Starbucks Odyssey’s beta launch in December 2022, its stamp NFTs have garnered a remarkable 360 total sales, amassing over $143,000 in total sales on the official secondary marketplace of Nifty Gateway. Starbucks has partnered with Polygon to evaluate Web3’s potential in influencing brand loyalty, and the results are eagerly awaited.

Gucci

Gucci has entered the world of non-fungible tokens (NFTs) with its first offering, “Aria.” This NFT is a four-minute video clip inspired by Gucci’s recent Aria collection and features the creative director Alessandro Michele’s runway presentation. The video showcases a surreal, post-COVID clubbing experience, which makes it a unique and exciting piece. The NFT was auctioned at Christie’s as part of a sale titled “PROOF OF SOVEREIGNTY: A Curated NFT Sale,” with all proceeds donated to UNICEF USA to support UNICEF’s role in COVAX. Gucci also collaborated with SuperRare to create an NFT marketplace called Vault Art Space, which features collectible fragments of the brand’s heritage.

Additionally, Gucci collaborated with Superplastic to create a limited series of NFTs called “SUPERGUCCI,” which Alessandro Michele and synthetic artists Janky & Guggimon co-created. The first drop incorporates House codes found in the Gucci Aria collection, while the second drop spotlights Guggimon embellished with the Gucci Love Parade. These collaborations showcase Gucci’s dedication to the world of NFTs and its commitment to exploring new possibilities in the digital space.

Porsche

Porsche has been exploring the world of non-fungible tokens (NFTs) since 2021. This journey began with an auction in August 2021, where a design sketch by chief exterior designer Peter Varga was sold as an NFT for a significant amount. Recently, Porsche introduced a collection of 7,500 NFTs, allowing owners to co-create their digital artwork.

The NFT collection features a white Porsche 911 Carrera with a personalized license plate that can be customized to reflect the owner’s personality. Porsche’s foray into NFTs aligns with its commitment to co-creation and community as it seeks to merge the physical and digital worlds. Porsche continues to explore the potential of NFTs and their role in creating unique and innovative customer experiences.

Red Bull Racing

Red Bull Racing has vigorously explored the vast possibilities of non-fungible tokens (NFTs) and blockchain technology. Through strategic partnerships with notable companies such as Oracle, Bybit, and Azuki, the team has rolled out an impressive array of limited-edition NFT collections. One of the most recent and sensational NFT collections released by Red Bull Racing is the Lei the Lightning Azuki, featuring a vivacious young racer in the Azuki universe with an unwavering aspiration to become an F1 driver. The NFT is conveniently available through Bybit’s NFT marketplace.

Adding more spice to their collection, the team has also released a bunch of limited edition NFTs of the RB16B, the iconic 2021 F1 car driven by the incredible Sergio “Checo” Perez, decorated with his signature livery. In addition to releasing NFT collections, Red Bull Racing has creatively pioneered NFT auctions during F1 race weekends.

One such auction was held during the electrifying Monaco Grand Prix weekend, where the highest bidder received a remarkable digital version of a one-of-a-kind Playseat simulator rig, alongside the rights to claim a physical version of the rig. This groundbreaking move has created a buzz and is the first time a blue-chip NFT finds its way onto an F1 race car.

The active involvement of these big brands in the fascinating world of NFTs is undoubtedly a sight to behold.

 Big Brands Working with Generative Artists

The narrative of big brands giving away a PFP (Profile Picture NFT) was a craze last year. Then twin NFT, which represents a digital twin, or virtual replica, of a physical object, helps to connect the Web2 folks to Web3 is a widely used concept. I even got my digital twin NFT.NYC tickets. But increasing, I see that big brands are working with generative artists to create centerpieces for their storefronts, wrapping paper to new product lines.

Generative art is a fascinating field that has recently captured the attention of prominent brands. Many companies are exploring how generative art can be used to create unique and imaginative experiences for their customers. Here are some examples of generative artists collaborating with big brands:

Adidas has collaborated with generative artist Joshua Davis to create a unique line of sneakers. Davis used code to create an algorithm that generated millions of different shoe design options. The resulting designs were then printed on the sneakers using a digital printing process. This collaboration demonstrates how generative art can be used to create personalized and customized products for customers.

Generative artist Refik Anadol has worked with major tech companies like Google and Microsoft to create immersive installations that use AI and machine learning to analyze and interpret large data sets. Anadol’s work explores the intersection of technology and art. His collaborations with big brands demonstrate how generative art can create cutting-edge experiences that push the boundaries of creativity and innovation.

Generative artist Rafael Lozano-Hemmer has worked with brands like BMW and Samsung to create interactive installations that engage audiences and promote brand awareness. His work often uses technology and data to create unique experiences that blur the line between art and advertising. Lozano-Hemmer’s collaborations with big brands demonstrate how generative art can create memorable and impactful experiences that connect with audiences in new and innovative ways.

A leading international gallery, Pace hosted an exhibition, QQL: Analogs, featuring generative artist Tyler Hobbs’ innovative works. This groundbreaking exhibition showcased 12 large-scale paintings based on Hobbs’ QQL algorithm. Visitors immersed themselves in the creative fusion of technology and art as the paintings were crafted using traditional techniques and robotic tools. Coinciding with the physical exhibition, for the very first time, Pace presented a metaverse gallery in collaboration with AOI.

This unique event highlighted the importance of generative art and the convergence of the digital and physical art worlds. I spoke to Tyler Hobbs, who said, “How can you work more humanly with the computer and the machine? And when you work by hand, take a more mechanical approach to work procedurally?” This statement got me thinking. Perhaps this is a new way and approach to looking at digital art. This is a very forward-thinking statement to many, and I believe it sets the right tone moving forward.

These examples demonstrate how generative artists collaborate with big brands to create imaginative experiences that engage audiences and promote brand awareness. By incorporating generative art into their designs, companies can create personalized and customized products, transform retail spaces into dynamic environments, and create immersive installations that push the boundaries of creativity and innovation.

Benefits of NFTs for Big Brands

The use of NFTs by big brands has been increasing in popularity to enhance their customer interactions. NFTs allow brands to create unique digital assets, which can be used to offer exclusive experiences or access to products or events. This can create a stronger bond between the brand and its customers, increasing brand loyalty.

It is also an effective way of increasing brand awareness. By creating limited edition or unique digital assets, brands can create exclusivity, generating buzz and excitement amongst customers. This can lead to increased engagement with the brand, as customers are more likely to want to interact with and purchase the NFTs before they run out.

One of the main benefits of using NFTs is the ability to promote marketing campaigns more engagingly. By creating interactive experiences through NFTs, brands can allow customers to participate in campaigns in a more immersive way. This can increase sales, as customers are more likely to purchase when they feel part of a campaign.

Some brands are using NFTs to offer collectible items for sale. These can be anything from designer eyewear to fast-food dishes. By creating unique and valuable digital collectibles, brands can provide customers with a new type of product, which can create a new revenue stream for the brand. Customers can also own a unique and valuable digital asset associated with the brand, enhancing their perception of the brand and increasing loyalty.

Potential Long-Term Value of NFT

Some consumer groups complain that big brands are trying to pull a fast cash grab on their fans. I do not think that the big brands are merely looking just using NFTs to make quick sales. They also realize the potential long-term value of these unique digital tokens, which is reflected in their stock prices and overall worth. These companies are embracing NFTs and exploring fresh ways to harness their one-of-a-kind properties, enabling them to position themselves for future growth and success.

These brands are gaining an edge in the cut-throat marketplace by taking a forward-thinking approach. They understand NFTs can create novel revenue streams, cultivate brand loyalty, and spur innovation. This proactive attitude toward emerging technologies draws investors who perceive the potential for future value creation.

The adoption of NFTs by big brands is not only profitable for the companies themselves but also for their shareholders. By investing in these visionary companies, shareholders can reap the benefits of future growth and success. NFTs are a strategic asset for these big brands as they leverage this innovative technology to create fresh growth and value-creation opportunities.

Summing Up

The emergence of big brands into the NFT arena has caused a stir in the market, and rightly so. It hints at the growing acceptance and recognition of NFTs as a lucrative tool for generating new revenue streams. This infusion of capital from big players in the industry is likely to spur the development of more creative and original NFT offerings, leading to increased brand engagement and community involvement.

Although there are still a few bumps to iron out, such as integrating sales models in virtual worlds, the market is anticipated to become more sophisticated. Metaverse could be the bridge to what we expect.

Like my friend AOI would say:

“It’s time we bring technology to the arts in a meaningful and immersive way. The metaverse should enhance the digital art experience.” As these obstacles are gradually resolved, it will become more straightforward to create and sell NFTs seamlessly and efficiently.

Another element that could contribute to the growth of the NFT market is the projected bull run in the crypto industry. During these periods of high market activity, cryptocurrencies, and blockchain technology tend to pique the interest and attention of investors. Consequently, it is highly plausible that the NFT market will experience substantial growth during the next bull run, attracting even more investment and attention from big brands and individuals alike.

In conclusion, the entrance of big brands into the NFT arena is a positive sign for the market, indicating increasing adoption and mainstream acceptance. As the market matures and gains more traction, we can look forward to more ingenious use cases and innovative applications of NFTs, leading to a more dynamic and vibrant ecosystem.

Ending off with the usual Anndy Lian quote:

“Your new asset is in the digital world. NFT is the new asset.”

 

 

 

Source: https://cryptoslate.com/nfts-and-big-brands-exploring-new-possibilities/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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