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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Closing Speech by Anndy Lian: Looking Ahead 2030

Closing Speech by Anndy Lian: Looking Ahead 2030

Fast forward to the year 2030, and we find ourselves in a world dramatically altered over the past decade, especially in finance. What was once a niche and speculative asset class, cryptocurrencies have now transitioned into the mainstream, embraced by millions across the globe. What factors have propelled this astonishing growth and widespread adoption of crypto, and what challenges and opportunities lie ahead for the crypto industry and its users?

The Swift Expansion of Cryptocurrencies

At the core of the crypto revolution is the innovation and evolution of blockchain technology. Blockchain, a distributed ledger system, records transactions in a secure, transparent, and immutable manner. It facilitates peer-to-peer transactions without intermediaries, reducing costs, minimizing friction, and enhancing efficiency and trust.

Blockchain’s transformative power has paved the way for the emergence of various crypto assets, including Bitcoin, Ethereum, stablecoins, utility tokens, security tokens, non-fungible tokens (NFTs), and more. These digital assets serve diverse purposes, ranging from acting as a store of value and medium of exchange to representing real-world assets digitally, offering access to decentralized applications (DApps), and enabling the ownership of digital collectibles.

A study by Grand View Research, Inc. forecasts the global cryptocurrency market to reach USD 11.71 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.1% from 2021 to 2030. This growth is attributed to the surging demand for crypto assets among both retail and institutional investors, the increasing integration of blockchain technology in various sectors, and the favorable regulatory climate in some countries.

Rising Popularity and Mainstream Acceptance

Another driving force behind crypto adoption is the growing awareness and education among the general public. More individuals are becoming acquainted with the benefits and potential of cryptocurrencies, such as financial inclusion, empowerment, privacy, and sovereignty. The availability and accessibility of various platforms and services, including exchanges, wallets, payment processors, lending platforms, and more, further facilitate this adoption.

A report on Github estimates that the number of crypto users will surpass one billion by 2030, based on a historical growth rate of 63.2% per year. The report identifies key drivers of crypto adoption, including the expansion of Bitcoin and Ethereum, the advent of DeFi and NFTs, the introduction of institutional products and services, and endorsements from celebrities and influencers.

Challenges and Opportunities

Despite the remarkable progress and potential of crypto, several challenges and uncertainties demand attention:

– Regulation and Compliance
– Security and Scalability
– Education and Adoption

On the flip side, numerous opportunities await exploration within the crypto space:

– Innovation and Development
– Inclusion and Empowerment
– Transformation and Disruption

Conclusion

Crypto transcends being merely a technology, currency, or asset—it represents a movement, a culture, and a vision. It is a movement that strives to build a more open, fair, and democratic world. It is a culture that values innovation, collaboration, and diversity. It is a vision that foresees a future where everyone can participate, contribute, and reap the benefits of the digital economy.

Looking ahead to 2030, we can anticipate the continued growth, evolution, and maturation of crypto, with new challenges and opportunities on the horizon. Crypto’s impact extends beyond being the future of money; it encompasses the future of the web and, indeed, the future of the world.

The BCH Meet up was held in South Korea on 28 October 2023. The closing speech is made by Anndy Lian. He is an all-rounded business strategist in Asia. He has provided advisory across a variety of industries for local, international, public listed companies and governments.

The full write-up will be found at https://anndy.com.

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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Exclusive: Anndy Lian: “Web3 and AI Are Transforming NFTs” — Keynote Speech

Exclusive: Anndy Lian: “Web3 and AI Are Transforming NFTs” — Keynote Speech

I was honored to be invited as a keynote speaker at the NFT 2023 Seoul conference, which took place on September 1, 2023, at the COEX Convention Center in Seoul, South Korea. The conference was a huge success, attracting many attendees from around the world who were interested in the latest developments and trends in the non-fungible tokens space.

The speech was titled “The Journey of NFTs in the Age of AI and Web3”. In it, I shared my insights on how NFTs have evolved and what their future holds, how artificial intelligence (AI) is creating new possibilities and challenges for NFTs, and how Web3 is emerging as a new version of the internet that is more decentralized, open, and user-centric.

In this article, I will summarize some of my speech’s key points and provide examples of NFT projects that illustrate them. I hope you will find them informative and inspiring.

What Are NFTs?

One of the topics that I covered in my speech was the basic concept and definition of NFTs. NFTs are non-fungible tokens, which means that they are unique and irreplaceable. Unlike fungible tokens, such as cryptocurrencies, that can be exchanged for one another, NFTs have their own individual characteristics and value. They are mostly digital items, such as artworks, music, videos, games, collectibles, and even virtual land, that users can buy and sell online using blockchain technology.

Blockchain technology is the backbone of NFTs, providing a secure and transparent way of verifying their authenticity, scarcity, and ownership. Blockchain is a distributed ledger system that records transactions in a network of computers without the need for a central authority. Each transaction is verified by the network and added to a chain of blocks that cannot be altered or tampered with. This ensures that NFTs are original, rare, and belong to their rightful owners.

The NFT market has been booming in recent years, especially in 2021, when it reached new heights of popularity and profitability. According to data from NonFungible.com, the total sales volume of NFTs in 2021 was over $12 billion, which is more than 20 times higher than the previous year. The average price of an NFT also increased significantly, from $142 in 2020 to $3,700 in 2021.

Some of the more popular and best-selling NFT collections in the market as of last week were:

  • Bored Ape Yacht Club: 7-Day Sales Volume: $52.2 million
  • The Sandbox: 7-Day Sales Volume: $33.1 million
  • CryptoPunks: 7-Day Sales Volume: $17.5 million
  • Art Blocks: 7-Day Sales Volume: $13.2 million
  • Decentraland: 7-Day Sales Volume: $6.6 million

These collections feature different types of digital assets, such as pixelated characters, generative art, virtual worlds, and more. They have attracted thousands of buyers and sellers from around the world, who are willing to pay millions of dollars for some of the rarest and most coveted pieces. Just to put some figures to illustrate these NFTs. A Bored Ape Yacht Club NFT sold for $24.4 million at Sotheby’s auction house in September 2021.

A CryptoPunk NFT sold for $11.8 million at Christie’s auction house in May 2021. An Art Blocks NFT sold for $5.4 million on the OpenSea platform in August 2021.

How is AI Transforming NFTs?

Another topic I covered in my speech was the impact and potential of artificial intelligence on NFTs. I explained how AI is transforming NFTs by creating new possibilities for generating unique digital assets that can appeal to different tastes and preferences. I also explained how AI can integrate dynamic experiences into NFTs, making them more interactive and adaptive.

One of the ways that AI is creating new possibilities for NFTs is by enabling users to automatically create artworks using various algorithms and models. This means that users do not need to have any artistic skills or experience to create their own NFTs. They can simply use AI tools and platforms that can generate images based on their inputs, such as keywords, styles, colors, and more. Some of the examples of AI-generated NFTs include:

  • Artbreeder is a platform that allows users to create and breed images using neural networks. Users can choose from different categories, such as portraits, landscapes, animals, and abstract art, and then adjust various parameters, such as genes, mutations, and mixtures, to create unique images. Users can also combine different images to create hybrids and variations.
  • GANksy is a collection of street art created by a generative adversarial network (GAN) inspired by Banksy. A GAN is an AI model consisting of two competing networks: a generator that creates fake images and a discriminator that tries to distinguish them from real ones. The generator learns from the feedback of the discriminator and improves over time. GANksy is a GAN that was trained on hundreds of Banksy artworks and then generated its own original pieces.
  • Alethea AI is a platform that enables users to create and trade intelligent NFTs that can speak, interact, and learn. Users can upload their own images or choose from a gallery of pre-made avatars and then use a text-to-speech engine to give them a voice. Users can also customize the personality, mood, and emotion of their NFTs and teach them new skills and knowledge.

Another way that AI is transforming NFTs is by integrating dynamic experiences into them thanks to their self-learning capabilities. This means that NFTs can change over time based on external factors, such as data, events, user actions, and more. This makes them more dynamic compared to more traditional NFTs that often take the form of an image or audio file.

What is Web3 and How Does It Enhance the NFT Ecosystem?

The final topic that I covered in my speech was Web3 and how it enhances the NFT ecosystem. Web3 is a new version of the internet that aims to give users more control over their data and online interactions. Web3 is built on blockchain technology and includes features such as cryptocurrencies, NFTs, and decentralized autonomous organizations (DAOs).

Identity is one of the key features of Web3 that allows users to manage their online identities in a more secure and efficient way without relying on a central authority. Web3 identity solutions enable users to create and use digital wallets on the blockchain that store their personal information, such as name, email, phone number, address, and more.

Users can then use these wallets to access various Web3 applications and services, such as marketplaces, social networks, games, and more. Users can also choose what information they want to share with each application or service and revoke access at any time. Some of the examples of Web3 identity solutions:

  • MetaMask is a browser extension that allows users to access Ethereum-based applications. MetaMask acts as a bridge between the user’s browser and the Ethereum network, enabling them to send and receive transactions, interact with smart contracts, and manage their Ethereum accounts.
  • Civic is a platform that provides identity verification services using blockchain. Civic allows users to verify their identity once and then use it across multiple platforms without going through the same process again. Civic also protects users’ privacy by using zero-knowledge proofs, which are cryptographic techniques that allow users to prove something without revealing any details.
  • ENS (Ethereum Name Service) is a protocol that allows users to register human-readable names for their Ethereum addresses. ENS makes it easier for users to send and receive transactions, as they do not have to deal with long and complex alphanumeric strings. ENS also allows users to attach other information to their names, such as websites, social media profiles, and NFTs.

NFTs are another key feature of Web3 that enhances the ecosystem by offering a decentralized internet where users are not just consumers but active participants. They are unique blockchain tokens that allow users to transparently provide proof of ownership for things such as digital art, music, data, in-game assets, personal records, and more. NFTs also enable users to create, trade, collect, and showcase their digital assets on various Web3 platforms and services.

The Bottom Line

I wrapped up my speech by stressing the importance and potential of the fusion of AI and NFTs in the Web3 era, arguing that the convergence of AI and NFTs will allow us to create and own unique digital assets that can interact with each other and with the environment in dynamic and intelligent ways.

I also argued that Web3 will offer us a more democratic and decentralized internet where we can have more freedom and control over our online identities and experiences.

“Web3 is based on the idea of decentralization, which means that no single entity or authority can control or censor the network. This aligns perfectly with the core values of NFTs, which are based on the idea of ownership, which means that we can prove and transfer our rights to our digital assets. The fusion of AI and NFTs within the context of Web3 opens up a new horizon for innovation and creativity, where we can explore endless possibilities and have greater agency over our digital assets.”

Thank you to the audience for their attention and to the organizers of NFT 2023 Seoul. Find me on X/Twitter at @anndylian.

 

Source: https://www.techopedia.com/anndy-lians-keynote-speech-at-nft-2023-seoul

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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