Event Recap - NFT NYC
Takeaways From the NFT.NYC 2022 Conference
In the world of digital assets and Web 3.0, the whole of last week was buzzing for the NFT.NYC 2022 conference that took place between June 20 - June 23. The conference is a platform where like-minded people in the Web 3.0 space and those heavily involved in the nascent industry can come together to rub minds, listen and learn. Everything blockchain-based is welcome here, from gaming, music, sports, fashion, film, art, etc.
Despite the current bearish market, the overall sentiment at the conference was bullish. To many, that is a good sign for the Web 3.0 space and the digital assets market. For those keen to follow up with the conference and discover what went down as over 1500 crypto experts took center stage, here are some key takeaways from the NFT.NYC 2022 conference.
Web 3.0 Is Expanding Despite Some Pushback
More Web 3.0 brands are being created as traditional Web 2.0 companies join the bandwagon. However, some decentralization purists are pushing back as - in their minds - the entry of corporate players is counter to the principles of the movement, which focuses on the individual creator. Nevertheless, the presence of these Web 2.0 giants is welcomed by most because of the already established community they bring into the Web 3.0 space.
The 2022 conference saw Pharrell Williams announced as the Chief Brand Officer of Doodles. In addition, Cool Cat launched a multi-day activation/party; the NYPD showed interest in FVCKRENDER’s LVCIDIA; APEFEST pulled out all the stops with appearances from Eminem & Snoop Dogg; and many other exciting events that celebrate the expansion of Web 3.0.
Crypto May Be Down, but the Spirits Are Very High
Despite the state of the crypto market, with prices tumbling down, the sentiment around digital assets and Web 3.0 remains bullish. Throughout the multi-day conference the attitude of the attendees was tremendously positive, and forward thinking. Folks were not there to worry about the crypto market anyway; they came to discuss innovation, community, and culture.
According to Amy Wu, going into the conference, the expectation of most is that the atmosphere would be weird given the state of crypto. However, the reality was the opposite as the number of community members that came out for the BoredApe celebration showed. There were 4,000 of them, according to Wu.
The Gaming Community Will Be a Key Player in Web 3.0
The gaming sector is also seen as a massive driver of this industry’s expansion. Several participants at the conference see the current user base of the gaming sector as the next wave of daily users in Web 3.0 as more games shift or integrate Web 3.0 into their gameplay.
(Host: Eric Spivak, w/guests Jai-Ling, CEO & Co-Founder of Playground; Sirsu, Founder of BLVKHVND & Mint Fund; and Mohamed Ezeldin, Head of Tokenomics at Animoca Brands @ the New Friendship Tech counter conference satellite event in NYC)
Given the vital role that the gaming community could play in Web 3.0, there is a need to educate newcomers about its potential as they are on-boarded for a smooth and easy transition. The talk around the conference focused on the need to build something that feels just the same as what they are used to in the traditional gaming setup. That is without pushing blockchain or digital assets too much in their face.
Blockchain gaming will be primarily about gaming with blockchain and digital assets just in the background doing their thing. Gaming should be a gamers’ game; if gamers can put sweat equity in many of the games they play, then they should be able to own the assets they play with.
The Polygon blockchain is a major favorite among the Blockchain gaming community due to its scalability, interoperability with the Ethereum blockchain, and high TPS (Transactions per Second). Interestingly, Zoop is built on the Polygon Blockchain for that very reason.
The user base of Web 3.0 keeps expanding, and it is not stopping. Platforms like Metamask reported a 30% increase in recent months with around 30 million active users. Solana now has 3 million users, and was only launched in February 2021; It had just 500 thousand users in September 2021. Other newcomers to the blockchain market like Palm, Flow, and Theta are there, too, jostling for market share.
Blockchain and digital assets will become ingrained in our daily lives before we know it; without even realizing it. As with the “Dot Com '' revolution two Decades previous, we will see innovation take hold, and with that a change in the way we carry out our lives personally and professionally. Keeping track of the changes, staying ahead of the curve by learning and educating ourselves and in turn, others, is the best way to keep the paradigm moving.