GWEI 2022: The Present and Future of Web3 Infrastructure

GWEI 2022: The Present and Future of Web3 Infrastructure

On July 14th, the first “Global Web3 Eco Innovation Summit – Singapore” (GWEI 2022 – Global Web3 Eco Innovation Summit -Singapore) was held at the Marina Bay Sands Expo and Convention Center in Singapore. Co-hosted by Fintech Node (SUSS NiFT) and Babbitt’s new overseas brand “The Way of DeFi”.

This summit is sponsored by OKX, the world’s leading Web3 ecological builder.

In the afternoon roundtable on Web3 Infrastructure: Now and the Future, Nansen CEO Alex Svanevik, DFINITY Foundation CTO Jan Camenisch, Consensys Strategic Sales Director Marouen Zelleg, Avalanche Asia Head Wilson Wu, and Photon Storage CEO Zuriel had a great conversation, and Blockcast founding member Anndy Lian hosted the roundtable.

The following is the content of the roundtable organized by the way of DeFi (with some deletions):

Question 1: What do you think about the data part in Web3? And how to generate more value from data on the blockchain?

Alex Svanevik: I think the unique feature of the entire blockchain industry is transparency. If you compare it to traditional finance, or if you compare it to Web 2.0 or Web 1.0, you have a lot of information. With the blockchain, you have a lot of transparency.

So when something catastrophic happens, this transparency is great; an example that comes to my mind recently is the de-anchoring of the luna UST; we want to understand what is going on there, and who are the main parties? There are a lot of conspiracy theories about which entities were involved in this incident because you have this transparency. You have data from the blockchain that we can investigate in a short amount of time. If you compare it to Lehman Brothers during the last financial crisis, imagine how many doors you had to knock on to get the insight you needed to know what was actually going on.

And blockchain is also helpful for more positive purposes like understanding what people are actually buying and selling on the blockchain. If you want to trade NFTs, you might want to understand what are the biggest influencers of purchases? If someone has a good track record of investing in NFTs, maybe you want to keep track of the next series of NFTs they are minting or trading. The same thing happens with DeFi. If you want to know who were the first pioneers to use DeFi protocols, so here are a few different ways I think blockchain data transparency can help investors.

Question 2: Marouen, do you think wallets will be the core traffic portal of Web3? Are you laying out any other Web3 infrastructure besides MetaMask?

Marouen Zelleg: The mission of Consensus is essentially to build the decentralized Internet that we are all pursuing. We have two main directions. The first is users who really pay attention to this Internet, and the second is the developers and builders of this Internet. . So MetaMask obviously plays a big role on the user side. The main idea and the driving force behind it is to really create a safe zone where users can interact with Web3. This could mean that you can easily and efficiently trade your assets but also create some kind of safe space to avoid scams and malicious interactions on this decentralized network.

On the other side of building this internet, Consensus is actually more focused on infrastructure and tools for developers, so we have a platform called Truffle Suite that allows people to roll out their smart contracts really fast. The other part is security and due diligence done on smart contracts. Finally, because of the nature of Web3 and its interactive requirements for the blockchain, we are really very focused on providing the infrastructure business, so one of the products is called Infura, which is essentially an API that allows developers to A reliable way to interact with the blockchain.

So, we look at the industry as a flywheel, we want to enable people to build good applications, and then users can interact with it with the right tools. And obviously, MetaMask is a big portal, so we’re going from users and Looking at the problem from a developer’s point of view and trying to simplify the flywheel.

Question 3: The public chain is the foundation of Web3, it has been developed for many years, and the public chain is a very competitive market, then, Jan Camenisch, Zuriel, Zuriel and Wilson, can you share with us how you position yourself in Web3 your public chain?

Jan Camenisch: Yeah, I think we all seem to be embracing Web3, which means the user owns the application, and that means the blockchain is the best platform because the application can be tokenized, and then the user can Governance with these tokens. I think it’s also important that you can go further because the entire application itself is actually running on the blockchain, which is what we’re looking at with internet computers, making sure the application is unstoppable; the blockchain actually Web services can be provided directly to users, so with your phone, with your browser, you can connect an Internet computer to the blockchain without an intermediary.

But the blockchain has to be efficient and scalable; for example when it scales to the level of Facebook, the entire blockchain needs to scale. Another thing that I think is very important is that when users interact with applications hosted on the blockchain, the threshold needs to be lowered, and users should not need to buy tokens before interacting with these applications.

At ICP, we do this with what’s called a “reverse gas model”, where the app has to pay for it and can raise money from users.

Wilson: Since Avalanche launched mainnet in 2020, we have made significant progress in infrastructure, product building, and community building. I always try to tell people that if you look at a new ecosystem, it’s more like a city, so if you think Bitcoin is like Beijing, Ethereum is like Shanghai, and the new L1 is more like Shenzhen.

In order to build an ecosystem, you need to do two things well, one is you need a lot of good partners, basically good projects that really push the use case of the token, not just the money game, and the second is the user. So in the initial stages, we’ve spent a long time building an organic user base driven by committees. Then on the product side, we have developed our core strengths in the consensus mechanism, and we always describe consensus as the engine of a car or like the chip of a mobile phone. So what we want to do, not just make phones, what we want to do is make chips that you can use to make Samsung, Xiaomi, Huawei, and so on, to create this diversity and real use cases where people are using it. Because its demand comes from users, and we provide such an infrastructure.

And after building the core, we have the C-chain using EVM on it, you can run it on a normal machine and deploy any existing contract. But what about others who want to massively scale? We have subnets that allow them to scale on top of consensus, which can build things for very little cost. You can use EVM, you can use other virtual machines, or you can even build your own virtual machine on top of it machine, so it opens the possibility for the user to enter.

And then, for usability, I think the next phase, we should move in the direction of making it easier for users to use and adopt, such as building an overlay bridge. Zuriel: Alan Turing built his automatic computing engine in 1948, and eight years later, IBM introduced the world’s first hard drive, and the computing part naturally seems to evolve faster than storage because it makes people realize first To its power and storage helps to compute to be applied to more fields. At the end of the day, computing and storage are the two pillars of any Silicon Valley business, and the most profitable products of Google, Facebook, and TikTok are all built on big data and artificial intelligence.

The blockchain industry already has a lot of protocols working at the computational layer like Polygon, Solana, Avalanche and my favorite ICP, they all do it well and people create millions of NFTs on top of them, I recently I understand that some music companies want to put the copyright of music into NFT. If you buy an NFT, you can share a portion of the song’s copyright revenue and a small percentage of the composer’s copyright revenue. One problem that remains is that the revenue for the song still comes from a centralized company. If songwriters can upload their music onto a high-performance storage protocol, it can handle the load of being streamed directly by millions of listeners.

Photon will no longer focus on smart contracts but on providing high-performance data storage services. We are symbiotic with all non-storage blockchains, most of our adopters are Dapps from compute chains, for example, you can create a Web3 YouTube and put all business logic in ICP, but all video streams are Will be processed by Photon. We promote our ecosystem by focusing on innovative projects in other blockchains, and if any of them have a brilliant idea but are having trouble with hot data information structures, we will help.

Question 4: Which one do you think is more promising, a native Web3 project or a Web3 project transformed from a traditional industry? Why?

Alex Svanevik: First of all, I think there are a few different ways of looking at this. Maybe we can make an analogy that in the 90s and early 2000s, newspapers had to decide whether they wanted to participate in the Internet. In hindsight, it became clear that the right thing to do was to go online and create a digital newspaper. But at the time, what some newspaper companies actually did was spin-off separate entities from their main entities, which basically disrupted their own businesses. So traditionally, if you wanted to sell your house, or your car, you would put an ad in the newspaper. So this sentiment is going to pop up online very quickly, and you’ll see classified sites and so on, and I think, in a way, traditional financial firms are facing a similar dilemma today.

In my opinion, I believe blockchain will be the financial structure of the future. If that’s true, then basically, if you’re running a bank, you have to accept that or you’re going to be left far behind because blockchain could be a way to replace legacy technology. However, when it comes to Web 2.0 companies, I think it’s hard to judge. Obviously, there are a lot of very strong companies in Web 2.0 that have evolved in terms of technology, so if you switch to Web3, will the metrics be noticeable? Upgrading, this is not clear. But I do think that the user is the basic premise of the asset owner. Eventually, if you’re doing a game or a social network, users may start demanding that they own these assets themselves.

Jan CamenischZuriel: We see that some Web 2.0 companies may be being replaced by Web3 applications on ICP, and now we have medium and Reddit and LinkedIn dapp alternatives, some of which have been successful in a short period of time. For example, we have DSCVR, which is a clone of Reddit and already has about 90,000 users. On the other hand, if you don’t allow some web 2.0 services to connect, we won’t build Web3 properly because the internet is a common operating system, one thing that can call other things, we need to do the same on Web3, So I think it’s important. But on the other hand, smart contracts also need to be able to call, and if you have a centralized exchange, which is where you rely on price data, then you need to be able to call and get the data, right?

Maybe it shouldn’t be done as it is today, as oracles add another trust assumption, something that needs to be built into the blockchain natively.

Wilson Wu: Let’s talk about the Web3 experience; my first exchange account with Bitfinex, it took me two months for KYC registration, I got an email, and they told me that I passed the verification. I’ve forgotten about that account, and I’ve also experienced centralized wallets being stolen in the past, which required me to learn how to use cold wallets or something like that. Getting into Web3 the wrong way is a very painful process for the average person.

So, I think the opportunity for the next 6-12 months is in Web 2.5, and I’ve been talking to a lot of web companies, large groups, internet companies, and these are the people who are being urged to join Web3, but they’re in an awkward position. Existing Web 2.0 companies, if they want to move to Web3, who will lead the charge? Will they start a new entity? Or an old leader to do it? So I think the opportunity is actually in Web 2.5. Why do you say that? We’ve seen a lot of cases where some companies said, let’s move to Web3, but in reality, they only moved 2.2 or 2.3, they tried to move a little, but users didn’t see much change, so why try? And for the Web3 guys, they’re going to think it’s still a Web 2.0 product, so these are very awkward situations that I think Web 2.0 companies should avoid. So when you really want to do it, you have to do at least 2.5, or 2.6; at least you have a breakout.

Zuriel: I think bitcoin or Ethereum is valuable because there is a strong consensus; another way to express consensus is how many people use or trust it, NFTs have made a great contribution to the industry because it enables musicians, artists, sports and luxury goods and other industries are beginning to adopt it.

If we want Web3 to continue to grow, we need to strengthen consensus. Projects transformed from traditional industries have natural business logic, loyal users, and contribute to Web3 education, they may not create revolutionary products like Uniswap, but they will bring billions of users to Web3 , and the next Uniswap will be built by one of billions of users.

Question 5: Web3 is a grand vision. How long do you think it will take to get to the real Web3 era?

Alex Svanevik: It’s hard to say. It depends on how you define it. Actually, I think Web 2.0 will coexist with Web3. But I believe in 5 years, it will become more common to own your digital assets, for example, in games.

Jan CamenischZuriel: I think this has already happened, we have seen the first batch of dapps, and more and more will happen.

Marouen Zelleg: 4 years, 2 months and 7 days, it depends a lot on what happens in our world in the next few years, it will speed up or slow down, we will see.

Wilson Wu: I would suggest that if you look back at the big Web 2.0 companies like Apple, Facebook, Google, and Amazon, and look at their monthly charts over the past 15 years, going back to 2000, you’d see the growth of Web 2.0. So that’s going to give you a clear vision. We’re growing, but I think we’ll probably cut that process in half, so I think it’s another 7-10 years to develop it.

Zuriel: I think it will take 4-5 years when zero-knowledge-proof technology becomes more mature.

 

Original Source: https://blockcast.cc/news/gwei-2022-the-present-and-future-of-web3-infrastructure/

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 “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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Web3 Infrastructure: The Present and Future at GWEI Summit 2022 (Organised by SUSS & 8BTC)

Web3 Infrastructure: The Present and Future at GWEI Summit 2022 (Organised by SUSS & 8BTC)

Global Web3 Eco Innovation (GWEI) Summit 2022 is an event jointly organised by the Singapore University of Social Sciences (SUSS) and 8BTC.

The summit has brought together founders and executives from leading crypto and financial enterprises, academic institutions, policy-makers, and enthusiasts from around the globe. They will explore frontier issues concerning fintech, cryptocurrencies, Metaverse, NFTs, Web3 infrastructure, and their development opportunities.

The panel titled “Web3 Infrastructure: The Present and Future” is moderated by Anndy Lian and with a panel of expert guests:

– Alex Svanevik | Nansen CEO
– Jan Camenisch | DFINITY Foundation CTO
– Marouen Zelleg | Strategic Sales Director – ConsenSys
– Zuriel | Photon Storage CEO

1. The panel started off with a quick introduction of each panelist.

2. This is the question for Alex. As we all know, Data is the crucial part and the essential infrastructure of the digital economy, with its value amplified in web3 significantly. So, Nasen is the leading data service company and plays a vital role in the space. What do you think about the part of data in web3? And how do you generate more value from the data on the blockchain?

3. The next question goes to Marouen. Consensys has been a pioneer in building Web3 infrastructure, and Metamask is one of the most popular wallets in crypto, with 30 million MAU. So my question is, do you think the wallets will be the core way for referral traffic in Web3? And can you share with us that besides Metamask, do you have any other layout in building Web3 infrastructure?

4. The public chains are the base of Web3. It has developed for years and now is a highly competitive market. Jan Camenisch and Zuriel, could you please share with us how you position your public chains in Web3? And do you have any plans to promote the public chain ecosystem?

5. This is the question for all. As for the native Web3 projects and the Web3 project transformed from the traditional industry, which one do you think is more promising? And why?

6. This is the last question and it is also for all of you. Actually, Web3 is a grand vision. So how do you think of developing the infrastructure in Web3 for the next two or three years? And how long does it take to get to the real Web3 era?

The GWEI Summit 2022 is a bilingual and hybrid event that aims to foster collaboration and communication for practitioners from East and West. It promises to provide attendees with the latest updates and comprehensive information on Web3.

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 “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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EXCLUSIVE INTERVIEWS: Seasonal Insights on NFTs Past, Present, and Future (Part 2)

EXCLUSIVE INTERVIEWS: Seasonal Insights on NFTs Past, Present, and Future (Part 2)

Interviews with Jordan Belfort, Brock Pierce, Nifty Gateway, SuperRare, VaynerNFT, and other leaders in the NFT space.

The whir of people and activity, bright lights and decoration, and general festive air that used to punctuate the holiday season in the now-archaic shopping malls across the U.S. now seem replaced with the hustle and bustle of more NFTs coming to market. Every week brings news surprises directly to our inbox, for those of us who are on the mailing lists for new projects.

Multi-platinum recording artist, Pia Mia, came back from her stint as one of the judges at Miami Art Week inspired to release Birth of D1AD3MA, an NFT collection on OneOf which included the early release of her new song “Whole Thing”.

Sarah McDaniel, Playboy cover girl in 2016, dropped a limited edition of NFTs last week, this time not leveraging her image as a model, and only five of the 82 pieces have been collected. The NFTs are based on a short animated film, Kerfuffle. The difference in reception between Kerfuffle and her NSFW.app drops has not escaped McDaniel who said in a statement:

Looking to profit off crypto trading? Crypto traders just like you are getting profitable trades from Benzinga’s crypto research team! Click Here to See the Next Trade.

“My first NFT drop sold out in seconds because it leveraged my image and notoriety in the modeling world,” McDaniels said of her NSFW.app collection on OpenSea. “But the Kerfuffle drop has artistic power. It spotlights the empty culture and false beauty standards that generate a darker side to our society.”

Perhaps McDaniel anticipated the difference in responses – if so she made a Kerfuffle with the contrast in the drops themselves.

VaynerNFT, beyond supporting the very successful VeeFriends series, seems determined to dominate the space through sheer volume and variety of drops. This week they partnered with Coach on the launch of its first collection of NFTs featuring eight Coach Holiday animals.

VaynerNFT also released the Pepsi Mic Drop genesis NFT collection about which Gary Vayernchuk was naturally very enthusiastic:

“I love that Pepsi is embracing one of the most significant technology shifts of our lifetime. NFTs will change the culture of value creation forever; this is an exciting moment for the brand to build loyalty & bring immense value to its community & fans,” Vaynerchuk said.

But in the hubbub of holiday shopping for the latest and shiniest new certificates of digital ownership, we return to our review of the leading minds in the NFT space and their view, with all respect to Charles Dickens, on the spirit of NFTs past, present, and future.

Jordan Belfort

Investor, Entrepreneur, Speaker, and Author

Past – What brought us here?

“I posted a tweet saying 2021 is the year of the NFT. And I got some pushback from people saying, no, this is just the beginningNext year is the year of the NFT. People are really passionate about this stuff.

I think it has to do more with what’s going on with web 3 and this push towards taking back power from centralized institutions. Web 2 is all about the big platforms like Amazon, Facebook, Google, Twitter, they organized what was this incredibly large, massive information that was web 1 and made it easy to use. But everyone that gave all the information lost power. Some people struck it rich, but most people didn’t make any money. They were the contributors and content creators, but they didn’t get compensated fairly for it.

So that I think what’s really underpinning this next movement where wealth is spread to the people who actually contribute to the creation of information. And what makes that possible is  NFTs. NFTs are like your authentication of ownership of any given asset or piece of information. They allow the individual to go out and create content, put it out into the world, and use smart contracts to get compensated for little bits of information over time…  it creates this landscape where the average person can start to get paid for creating content, and that’s what’s behind it.

I think it’s going to very quickly evolve… you’ll see many, many things tokenized – real estate, titles, and anything can really be tokenized, a great portion of the economy can be tokenized,” Belfort said.

See more: NFT Release Calendar

Present – What brought us here?

“I think that what you’re seeing right now is a hyper-growth phase. When you have this first wave of adoption there is a lot of FOMO (Fear Of Missing Out), and it’s speculative hot money… And we see that often happen early on and something gets hot.
And it’s because the hot money it’s a lot of speculative investments… Some projects are just looking for quick cash and those will probably fall by the wayside. But I think what you’re going to find is a lot of the better projects where there was something of value or some utility behind it, will continue to thrive over the long term…

I haven’t launched anything myself. I’ve been buying NFTs and I’ve been approached by everybody under the sun to launch NFTs, but I want the market to get a bit more mature. And also I’m looking to do something very special,” Belfort said.

Future

“At some point in the near future, the SEC is going to get involved in this space. They have to. I think what they’re going to be looking at is how many of these NFT projects are really about the future work of people who are essentially creating… value in a decentralized community. If they are not driving forward the value of a project, then that fails the Howey Test, which is what the SEC uses when they take action against someone.

So be very careful about getting involved in these projects that could really have the regulatory hammer come down on them in the next six months…  That doesn’t mean you shouldn’t do it, make your own decision, I think the NFT space is going to be massive in 2022. So there’s a lot of money to be made and a lot of fun to have there. Just be careful,” Belfort said.

Brock Pierce

BROCK PIERCE, Bitcoin Foundation Chairman

Past & Present

“NFT has been the theme of the year and Webster’s Dictionary acknowledged it as the 2021 ‘Word of the Year.’  It has taken a few years to get to this point – ownership of digital art as NFTs first began a few years ago – but the enthusiasm surrounding NFTs is expanding the horizons and driving innovation surrounding the ownership of unique digital assets,” Pierce said.

Future

“Looking ahead, the market does need to have some caution and there will likely be a correction next year, in many of the NFT projects that are ‘hype’ and without real communities behind them.

There will, however, be many new projects launched, some of which will capture the right balance of innovation, community, and utility, and will drive interaction with DAOs and metaverses,” Pierce said.

Griffin Cock Foster

Co-founder of Nifty Gateway

NFTs past: What brought us to this incredible point in NFTs in 2021?

“Looking back, the most remarkable part isn’t that NFTs grew the way they did – it’s that it took so long for something like this to come into fruition. At Nifty Gateway, we’ve seen and worked with hundreds of artists who had enormous followings, creativity, and devotion, but were denied meetings at traditional art galleries. In hindsight, it’s clear that there was tremendous demand from the public to collect their work and participate more deeply in the communities they created. Blockchain innovation was just the technological breakthrough that allowed it to happen,” Foster said.

NFTs Present – what should people be focused on right now?

“Right now, as always, it’s essential for NFT projects to focus on the long term. Those of us who have been in crypto for a while have seen many swings up and down, but as a five-year average, things look quite rosy indeed. This level of volatility is not uncommon for breakthrough new technologies. If we look back, we saw tremendous volatility when the Internet was first introduced for commercial use in the 1990s, and going back much further, we saw tremendous volatility when oil was first discovered and put to use in the Pennsylvania oil fields of the 1870s,” Foster said.

NFTs Future – is the growth sustainable?

“I predict in 2022, we will continue to see growth.  However, I will also stick to the mantra that prediction is hard, especially about the future. It’s unclear what trends will dominate in 2022, and it’s unclear what to expect, other than the unexpected.

I believe that 10 years from now, NFT collecting and trading will be at least 100x more popular than it is today. It’s captured the art world – and that is only the first inning. We couldn’t be more excited for the future,” Foster said.

Avery Akkineni

President of VaynerNFT

NFTs past: What brought us to this incredible point in NFTs in 2021?

“2021 was a watershed year for NFTs, with millions of new users flocking into the space, driven by key culture-makers and moments – particularly across art, sports, entertainment, and gaming. This year, NFTs truly entered mainstream consciousness,” Akkineni said.

NFTs Present – what should people be focused on right now?

“Successful NFT projects have a few things in common – a dedicated community, elements of utility, and unique use of NFT technology. While there is no set formula for what works, community buy-in is the most important variable to success,” Akkineni said.

NFTs Future – is the growth sustainable?

“We’re still in the very, very early days of NFTs, and 2022 will bring a plethora of new NFT use cases. However, in the long-term, NFTs are here to stay, and in the short-term, we’ll see an advancement of current technology, particularly as a larger number of users engage in the NFT space,” Akkineni said.

John Crain

CEO of SuperRare Labs

NFTs past: What brought us to this incredible point in NFTs in 2021?

“2021 has been an incredible year for the space and we’ve seen more than $200M in sales on SuperRare. I think this growth has been driven by the popularization of digital art and creatives who have been looking for new business models that work in a digital context. What makes NFTs so compelling is that they create an ownership layer for digital objects… When we started in 2018 it was very challenging to get folks to understand what we were doing. This year has been so validating in that the general public started to understand and embrace the implications and vast potential of this new market,” Crain said.

NFTs Present – what should people be focused on right now?

“2021 has been such an incredible boom year, there is sure to be a market correction and we’re prepared for that. Going forward, I think NFT projects need to focus on creating value and expanding the ecosystem… We’ve seen a lot of newcomers and we need new tooling and new use cases, not more of the same ideas and models being rehashed,” Crain said.

NFTs Future – is the growth sustainable?

“Overall, I don’t see things contracting in 2022…  I believe that 2022 will be a year of utility, with the goal being to create a more general user-friendly experience. I think we’re going to see better display technologies including analog and digital. We’re also looking to create an easier onboarding experience, which will open up new opportunities for users without a lot of crypto experience (so they don’t need to manage a wallet for example.)  We are also excited to see the technology continue to expand to new industries like fashion, film, and music, which really took off in 2021,” Crain said.

More Leading Voices in NFTs

There are so many use cases for NFTs, just within art and collectibles alone, that it’s hard to give the full picture with a single chorus of voices, even in a two-part article.

For example, Desiree “aka Dzikt”, artist and co-founder of Girlfrens NFT collection sees NFTs as a means to raising money and awareness for charity, specifically for those afflicted with cancer.

“Looking at this through the lens of a charity-focused NFT project, this community piece is something that is often overlooked by newcomers but becomes the key element that draws people in and keeps them engaged… Millions are being raised for charity through NFTs, it is a completely new avenue for causes to receive funds and more are being onboarded into crypto every day through platforms like the Giving Block,” Desiree said.

But while Desiree and other non-profit NFTs we have written about see a chance to raise funds for charity, other project leaders see NFTs as just a step toward the realization of a digitally verified and decentralized metaverse.

To Ori Levi, CEO of NFTTrade, 2021 might well be the year of the metaverse’s inception as much as the year of NFTs.

“2021 was the year of the metaverse, the first presence of digital life, and although we are still far from a mainstream metaverse, NFTs presented, for the first time, the ability to have status and be a member of an elite group of people online…  GameFi presents a new opportunity for the world, and the NFTs associated and usable in games and metaverses can go for significant value if they can present a fun and scalable game. ,” Levi said.

Dylan Katz, CEO of 2CrazyNFT platform, looks forward to a future more even market where digital ownership and encounters are just as valid as RL assets and experiences.

“In the future, we can hope to see NTFs in another more reasonable market that is available to the overall population, and simultaneously these NFTS will be Just authentic. Eventually, our virtual encounters will become compelling partners to certifiable encounters,” Katz said.

Anndy Lian, Chairman, Asia at BigONE Exchange concurs as to the importance of the Metaverse in the future of NFTs.

“I think NFT is the key and connector. NFT + Metaverse, NFT + Defi, NFT + SocialFI are some combinations that will do well in 2022. There are still many combinations to come. So, stay creative and innovative in 2022. I foresee 2022 as a year for stronger adoption,” Lian said.

In what very well may be a world first, Artentik, the marketplace for Santa Casa da Misericordia de Lisboa (SCML), Portugal’s 500-year-old organization that serves as keepers of the Museum and Church of Sao Roque in Lisbon will be dropping what is believed to be a Holy Thorn from Christ’s Crown of Thorns as an NFT on December 27th. I suppose it’s not too early to begin to think about Easter – if you have that kind of foresight for the bunny day.

 

Original Source: https://www.benzinga.com/markets/cryptocurrency/21/12/24668097/exclusive-interviews-seasonal-insights-on-nfts-past-present-and-future-part-2

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 “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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