Embracing the NFT revolution: Insights from Anndy Lian’s NFT.NYC speech

Embracing the NFT revolution: Insights from Anndy Lian’s NFT.NYC speech

In the rapidly evolving world of blockchain and digital assets, non-fungible tokens (NFTs) have emerged as a revolutionary force. Anndy Lian, a seasoned business strategist, author, and advisor to governments, recently addressed an enthusiastic crowd at NFT.NYC 2024, shedding light on the trajectory of NFTs and their impact across various industries.

NFT.NYC is a conference that brings together the global NFT community to New York City. The event was founded in 2018 by members of the NFT community and the first event was held in February 2019. NFT.NYC is considered a mature event for those interested in the Web3 space, and a conference for web3 professionals. The event features speakers, partners, networking, conversation, and learning. Some call it the “Super Bowl of NFTs” and the “burning man for non-fungible digital asset heads”.

Lian’s session was on 4 April 2024, at the main stage, his topic titled “NFT Revolution 2024: Trends & Future Predictions”.

The evolution of NFTs: From scepticism to mainstream adoption

Lian’s journey with NFTs has been marked by early scepticism, which has now turned into widespread acceptance.

His books, “Blockchain Revolution 2030” and “NFT: From Zero to Hero,” have become essential reads for understanding the potential of NFTs. He urged the NFT.NYC audience to “think bigger” last year, and the market has responded with a significant increase in value from US$737 million in April 2023 to over US$1.2 billion in February 2024. This surge not only reflects the burgeoning interest in NFTs but also underscores the growing recognition of their economic significance.

Decoding the trends: The future predicted at NFT.NYC 2024

Lian outlined six key trends that are expected to drive the NFT revolution:

  • ERC 404: The Hybrid Token Standard The introduction of ERC 404 marks a significant innovation in the blockchain world. This new standard aims to blend the best of both worlds: the versatility of fungible tokens (ERC-20) with the uniqueness of non-fungible tokens (ERC-721). This hybrid approach could potentially unlock new functionalities and use cases for digital assets, making them more adaptable and valuable across various applications.
  • RWA NFT: Digitising the Physical World Real-World Asset (RWA) NFTs are set to transform tangible assets like real estate, intellectual property, and fine art into liquid digital formats. This trend is not just about tokenisation; it’s about enhancing accessibility and creating new markets. For instance, Nexum.ai is leveraging NFTs to revolutionise supply chain financing, showcasing the practical benefits of this technology in traditional industries.
  • NFT ETFs: Diversification and Institutional Involvement NFT Exchange-Traded Funds (ETFs) are emerging as a game-changer for investors. By offering a diversified portfolio of NFTs, these ETFs provide a level of exposure similar to institutional-grade assets. Backed by credible entities, NFT ETFs could democratise access to the NFT market, allowing for broader participation and investment.
  • AI NFTs: The Convergence of Technology and Accessibility AI NFTs represent a fusion of artificial intelligence with the NFT ecosystem. Platforms like copx.ai are at the forefront, wrapping NFTs around exclusive AI trading tools. This integration makes NFTs more accessible and functional, providing users with exclusive market insights and trades, thus adding a layer of intelligence to the NFT experience.
  • Meme with a twist: The Squid Bros, a collection of 10K PFPs by SquidGrow created by renowned artist Mike S. Miller, known for his work with Marvel, DC, and Game of Thrones, exemplifies the power of community and intellectual property. This project demonstrates how strong community backing and robust IP can elevate a meme-inspired NFT collection to new heights, creating value and engagement.
  • Photographs as NFTs: Capturing Authenticity Seed.Photo’s selective process has led to a unique collection of photographs minted as NFTs. This approach appeals to major brands seeking authenticity and artistic value. By curating real photographs as NFTs, Seed.Photo is setting a new standard for quality and exclusivity in the NFT marketplace.

Blockchain networks fueling the NFT boom

Lian emphasised the role of blockchain networks such as Solana and Binance Smart Chain in the current NFT boom. These platforms offer the necessary infrastructure and community support for the development and trade of NFTs. I spoke to him off the stage and these are his comments.

  • Solana: High Throughput and Low Fees for NFTs Solana stands out with its high throughput and low transaction fees, making it an ideal environment for NFT creation and trade. It supports a fully decentralised on-chain experience for artists and collectors, with features like auctions and perpetual royalties coded directly into the NFTs. Solana’s NFT standard and minting program offer extreme customizability, backed by a suite of tools which empower creators to launch their NFT storefronts and engage with their audience directly.
  • BNB Chain: EVM Compatibility and Community Support BNB Chain, powered by the Binance ecosystem, offers EVM compatibility, which allows for the utilisation of Ethereum’s well-established standards and tools. This compatibility has positioned them as a competitive alternative for NFT creators, especially those seeking lower fees and a supportive community. Their marketplace provides a high liquidity platform for users to launch and trade NFTs, further bolstered by multi-chain support for seamless transfers between BSC and other networks.

He highlighted that a synergistic ecosystem for NFTs is important. The synergy between these blockchain networks and the NFT marketplace is undeniable. Solana and BNB Chain have each carved out a niche, offering distinct advantages that cater to the diverse needs of the NFT community.

As the NFT landscape continues to evolve, the contributions of these networks will remain integral to the development, trade, and overall success of NFTs in the digital economy. He has also mentioned other chains too. Lian’s emphasis on these platforms underscores their importance and the expectation that they will continue to fuel the NFT boom for the foreseeable future.

Conclusion: The transformative power of NFTs

Lian’s insights at NFT.NYC are a profound reflection of the transformative power inherent in non-fungible tokens (NFTs). His vision extends beyond the mere adoption of new technology; it heralds the creation of a secure and inclusive ecosystem that embraces participants from diverse backgrounds, fostering a community where digital ownership and creativity know no bounds.

As we peer into the future, it’s clear that NFTs are poised to continue their trajectory of redefining the very essence of ownership and artistic expression in the digital realm. The implications of this transformation are vast, touching upon various facets of our lives, from the way we perceive value to how we interact with the digital world.

Lian’s perspective is not limited to the technological advancements that NFTs bring. It encompasses a broader ambition to cultivate an environment that is not only safe and reliable but also equitable and accessible to individuals regardless of their technical expertise or geographic location. This democratisation of digital assets is a cornerstone of Lian’s vision, ensuring that the benefits of NFTs can be enjoyed by all.

In fact, Lian did a poll on X before his speech. The results are very promising. NFTs will continue to do well in 2024.

The article capturing the essence of Lian’s speech serves as a comprehensive guide to the current landscape and future prospects of NFTs. It provides readers with a valuable resource for navigating the complexities and opportunities that lie ahead in the NFT space. For those intrigued by the potential of NFTs, Lian’s work offers a foundational understanding of the challenges and promises that await us as we delve deeper into this exciting frontier.

In conclusion, the transformative power of NFTs, as articulated by Lian, is not just a testament to the evolution of technology but a beacon for a future where digital ownership and creativity flourish in a secure, inclusive, and innovative ecosystem. As we move forward, the principles and insights shared by Lian will undoubtedly serve as guiding lights in the ever-evolving narrative of NFTs.

 

Source: https://e27.co/embracing-the-nft-revolution-insights-from-anndy-lians-nft-nyc-speech-20240503/

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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6 NFT Trends to Watch Out For in 2024: Insights from Anndy Lian

6 NFT Trends to Watch Out For in 2024: Insights from Anndy Lian

Non-fungible tokens (NFTs) are a true yin and yang within the Web3 world.

For all the fun in trading images — and trading on the value of images — that happens, there are plenty of compelling use cases that are likely to enter the wider world.

Techopedia spoke to governmental advisor and author Anndy Lian about his take on the trajectory of NFTs and their impact across various industries, informed by his address this month at NFT NYC 2024.

NFT.NYC is a conference that brings together the global NFT community and web3 professionals in New York City.

Anndy’s session was on April 4, 2024, at the main stage. His topic was titled “NFT Revolution 2024: Trends & Future Predictions” and followed his speech last year called ‘Think Bigger.’

Following his speech, Lian, who is also the author of NFT: From Zero to Hero, outlined his thoughts to Techopedia, focussing on trends, use cases, and the future shape of the market.

Key Takeaways

  • In a conversation with Anndy Lian at NFT NYC 2024, the trajectory of NFTs and their broad impact across industries was discussed.
  • Key trends to watch this year include RWA NFTs, NFT ETFs, AI NFTs, the rise of memes and collections by renowned artists, and ‘photographs as NFTs’.
  • The ERC 404 Hybrid token standard will blend fungible and non-fungible token features.
  • Solana and Binance Smart Chain are pivotal in the NFT boom, with mature infrastructure and community support

6 Key NFT Trends in 2024

RWA NFTs: Digitizing the Physical World

Real-World Asset (RWA) NFTs allow tangible assets like real estate, intellectual property, and fine art to be tokenized into liquid digital formats.

This trend is not just about tokenization but about improving accessibility and creating new markets and liquidity opportunities

For instance, Nexum.ai is leveraging NFTs to revolutionize supply chain financing, showcasing the technology’s practical benefits in traditional industries.

NFT ETFs: Diversification and Institutional Involvement

NFT Exchange-Traded Funds (ETFs) are emerging as opportunities for investors. By offering a diversified portfolio of NFTs, these ETFs provide a level of exposure similar to institutional-grade assets. Backed by credible entities, NFT ETFs could democratize access to the NFT market, allowing for broader participation and investment.

AI NFTs

AI NFTs represent a fusion of artificial intelligence with the NFT ecosystem. Platforms like copx.ai are at the forefront, wrapping NFTs around AI trading tools. This integration makes NFTs more accessible and functional, providing users with exclusive market insights and trades, thus adding a layer of intelligence to the NFT experience.

Meme with a Twist

The Squid Bros, a collection of 10,000 PFPs by SquidGrow created by renowned artist Mike S. Miller, known for his work with Marvel, DC, and Game of Thrones, exemplifies the power of community and intellectual property.

This project demonstrates how strong community backing and robust IP can elevate a meme-inspired NFT collection to new heights, creating value and engagement.

Photographs as NFTs: Capturing Authenticity

Seed.Photo’s selective process has led to a unique collection of photographs minted as NFTs. This approach appeals to major brands seeking authenticity and artistic value.

By curating real photographs as NFTs, Seed.Photo is setting a new standard for quality and exclusivity in the NFT marketplace.

The ERC 404 Hybrid Token Standard

ERC 404 marks a significant innovation in the blockchain world, blending the versatility of fungible tokens with the uniqueness of non-fungible tokens, and offering unique investor opportunities.

This hybrid approach could potentially unlock new functionalities and use cases for digital assets, making them more adaptable and valuable across various applications.

Solana & BNB: The Blockchain Networks Fueling the NFT Boom

Lian emphasized the role of blockchain networks such as Solana and Binance Smart Chain in the current NFT boom, which offer the necessary infrastructure and community support for the development and trade of NFTs.

He praised the chains for these features:

Solana

Lian said:

“It has a high throughput and low fees for NFTs, making it an ideal environment for NFT creation and trade.

 

“It supports a fully decentralized on-chain experience for artists and collectors, with features like auctions and perpetual royalties coded directly into the NFTs.

 

“Solana’s NFT standard and minting program offer extreme customizability, backed by a suite of tools which empower creators to launch their NFT storefronts and engage with their audience directly.”

BNB Chain

Lian said:

“BNB Chain offers Ethereum Virtual Machine (EVM) compatibility, which allows for the utilization of Ethereum’s well-established standards and tools.

 

This compatibility has positioned them as a competitive alternative for NFT creators, especially those seeking lower fees and a supportive community.

 

“Their marketplace provides a high liquidity platform for users to launch and trade NFTs, further bolstered by multi-chain support for seamless transfers between BSC and other networks.”

Lian added that a synergistic ecosystem for NFTs is important but that “Solana and BNB Chain have each carved out a niche, offering distinct advantages that cater to the diverse needs of the NFT community.”

The Bottom Line

Anndy Lian’s insights at NFT NYC and Techopedia reflect the power within NFTs to redefine ownership and artistic expression in the digital realm.

The speculators come first, but as technology and adoption continue, real purposes evolve, and 2024 will likely be no exception.

 

Source: https://www.techopedia.com/nft-trends-insights-from-anndy-lian

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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The Future of Privacy in Web3 | DeCC @ NFT.NYC | Wendy O, Anndy Lian, Tor Bair, Gav Blaxberg

The Future of Privacy in Web3 | DeCC @ NFT.NYC | Wendy O, Anndy Lian, Tor Bair, Gav Blaxberg

At the forefront of the Web3 revolution, DeCC @ NFT.NYC convened a panel of visionaries to unravel the complexities of privacy in a blockchain-powered world. Moderated by the influential Wendy O, the panel featured Gav Blaxberg of Wolf Financial, Tor Bair of Stashh, and Anndy Lian, a best-selling author and thought leader.

The event underscored the attendees’ commitment to privacy, with many overcoming significant obstacles to join the conversation. The introduction of “Decentralized Confidential Computing” (DCC) marked a pivotal moment, signaling a shift towards a narrative that champions confidentiality in the transparent realm of blockchain.

Panelists shared their diverse experiences, from advising on crypto regulations to pioneering encrypted NFTs, all converging on the consensus that privacy and security are the bedrock of a sustainable Web3 ecosystem. The dialogue navigated through the evolution from Web2 to Web3, highlighting the persistent challenges and the urgent need for technological alternatives that empower users with control over their data.

A key distinction emerged between privacy and security. While privacy is often viewed as a luxury, security is a fundamental necessity. The irreversible nature of lost privacy was a sobering reminder of the stakes involved. Personal stories from the panelists brought to life the real-world consequences of security breaches, emphasizing the importance of vigilance in the digital age.

The session concluded with an engaging Q&A, where a question about AI’s role in privacy and security sparked a nuanced debate. AI’s dual potential to both compromise and enhance privacy was acknowledged, with a call for responsible AI development that aligns with public interest.

DeCC @ NFT.NYC was not just an event; it was a clarion call for collective action towards a future where privacy is a standard, not an afterthought. The insights and passion of the panelists inspired attendees to advocate for privacy and champion security in the digital domain.

As the narrative around DCC unfolds, the event stands as a testament to the ongoing efforts to protect our digital lives. The journey towards a more private and secure digital world is just beginning, and every step taken is a step towards a better future for all.

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”.

j j j