NYC NFT Week 2022
THE NFT 'SUPER BOWL’
NFT NYC Week 2022 commenced June 20-23rd in the heart of New York City in Time Square along with pockets of panel discussions all across Manhattan. This week had over 1500 speakers focusing on peer-to-peer panel discussions all having to do with the world of NFTs (non-fungible tokens). This year’s NFT NYC Week had a staggering 15,000 attendees compared to last year with only 5000 attendees, testament to the fast adoption of web 3.0 globally.
With the popularity of the metaverse, NFTs have become a staple in the world of digital content creation. People from all over the world are buying digital collectables and the value of these collectables are not cheap. The largest sale of an NFT happened last year with artist Beeple’s digital piece ‘Everydays: the first 5000 days’ selling for $69 million.
David Pakman, a VC with CoinFund, presented a graph of a current study demonstrating that people on average are spending $900 on NFTs per year. “Let’s put this in perspective. Netflix users on average, over the course of a year, spend about $180, Spotify is under $60, so as a consumer product we look at NFTs and we’re very excited,” he explained.
Beeple’s 5000 Days
SHOPIFY PANEL DISCUSSION
Discussions were also held across Manhattan in different boroughs including Soho. One major discussion in particular was held at Shopify’s headquarters on Greenpoint Street. The panel consisted of millennials in the NFT world; Roxy Fata, rarityjan and owner of Pudgy Penguins Luca Netz. Each panelist spoke about building community and branding for retailers and the shift from Web 2.0 to Web 3.0 and beyond. The Metaverse is a new stream to interact with people across the globe through closed and open ecosystems. These platforms allow for the trade of collectables and digital art in the form of NFTs and creates community beyond the intangible world of the Metaverse.
Discussion Panel at Shopify HQ
NFT INFRASTRUCTURE PANEL
A panel hosted by Shannon Wells discussed metaverse platforms and developing carbon negative and carbon neutral platforms to promote better infrastructure for NFTs. Investopedia explains, “Even though NFTs themselves do not cause any environmental impact, the impact on our climate is linked to how an NFT is produced.”
The panel, filled with computer engineers, spoke about different platforms using systems to help promote carbon neutrality such as Metaverse Green Exchange. According to Finetra, “MetaVerse Green Exchange (“MVGX”), has successfully certified its status as a carbon neutral business through tokenized cross-border carbon credits, the first company in the world to do so using blockchain technology.”
With the future in mind, computer engineers working on infrastructure want to create spaces that promote net neutrality or at most carbon-negative systems to offset the current environmental crisis through actionable systems in the Metaverse.
Panel Discussion at NYC NFT Week in Time Square
AUTHENTIQUE APP
As many companies begin embracing the concept of the Metaverse and Web 3.0, other companies are becoming key players and are adding to this limitless landscape. Responding to the demand for a verification process in the luxury goods industry, The ORDRE Group created an application called Authentique to verify luxury products with a single photograph which then becomes the item's digital fingerprint. This application creates a digital twin or digital copy of the physical product converting said digital copy into an NFT. This digital print authenticates the luxury goods product, adding to its value and provenance thus creating legitimacy. Read more about Authentique here.
