Co-Founder on How NFT.NYC Grows to Be the Super Bowl of NFTs

NEW YORK, JUNE 21: People walk past the NFT.NYC sign in Times Square for the fourth session of ... [+] Getty Images

NFT.NYC is known as the Super Bowl of NFTs. True to that honor, NFT.NYC is the largest and most recognized NFT conference in the world. Celebrating its fourth year, the conference is back with three days of live events, bringing together NFT fans, influencers, and developers. This year's event attracted more than 15,000 artists and enthusiasts, and more than 1,500 speakers, speaking at multiple venues in downtown New York.

However, the atmosphere at this year's meeting was markedly different from previous ones. We are in the midst of a historic bear market in cryptocurrencies. This "crypto winter" has wiped trillions of dollars of value from Bitcoin, Ethereum, and thousands of other cryptocurrencies. Market downturns have inevitably dampened enthusiasm for cryptocurrencies as an asset among mainstream users. However, the long-standing commitment to fundamentally transforming NFTs remains steadfast. We've only scratched the surface in terms of how NFTs will define the future. Now, NFT serves as a record of digital ownership and supports the certification and verification of asset ownership. In the future, NFT will expand to become a major part of various industries such as real estate, insurance, and publishing.

Give the NFT community a voice

Jodee Rich, one of the co-founders of NFT.NYC, reviewed the development of the conference over the years. "NFT.NYC started in 2018 when I had dinner with Devin Finzer, co-founder and CEO of OpenSea, and we discussed our excitement about NFTs, and how it is possible to explain what they are in terms of what they are not. Difficult," Rich said. “Our decision to give the NFT community a voice remains one of our core values today.”

Jodee Rich, co-founder of NFT.NYC

Amid the broader wave of criticism and skepticism surrounding NFTs, NFT.NYC’s commitment to giving the NFT community a voice, bringing the community together, and educating the global marketplace about the value of NFTs resonated with NFT.NYC participants. Attendees continue to flock to NFT.NYC for the unique opportunity to engage with people working on similar projects and work together to educate the global community about the value of NFTs.

In media and entertainment, the opportunity for NFTs is at hand

This year, Rich said, one of the event's branding tracks focused on how brands can effectively embrace NFTs and Web3, including more speakers than at the 2019 event. Rich is also the CEO of NFT.Kred and has helped countless brands launch NFT products. Brands such as Coach, Christie's and Gucci provide consumers with NFT on the NFT.Kred platform with a simplified user experience .

NFT.NYC could attract a particularly strong audience from media and entertainment companies. The media and entertainment industry has been one of the earliest adopters of NFT technology, including more traditional institutions. Traditional media platforms such as the Associated Press, Time Magazine, and CNN all use NFT as an important source of income.

Even established players in the entertainment and live events industry are rushing to roll out NFT strategies—not only to diversify their revenue streams, but to deliver better, more unique fan experiences. Rich pointed to Live Nation as a notable example, with its Live Stub program offering fans NFTs as part of purchasing tickets to events. Live Nation CEO Michael Rapino said Live Stubs bring back "the nostalgia of collecting ticket stubs, while giving artists a new tool to deepen their relationship with their fans."

Through NFT.Kred, Rich is also working with big names in sports and entertainment to take advantage of the technology's enormous benefits, from event ticketing to empowering content creators. In fact, Rich sees a huge opportunity for NFTs to drive major innovation in live events and experiences. "You can put the NFT in your wallet, and once the NFT ticket is scanned, you can go to the event," Rich said, adding, "The NFT can change and transition and become a commemorative piece of art that will serve as a part of that event." The memories live on forever.” Rich also noted the opportunity to use NFTs to interact with fans after live events for “special digital access, merchandise discounts, and other fan club perks.”

The infinite future of NFT

While this year's macroeconomic environment may largely dampen enthusiasm for NFTs, those in the know recognize that it is a long-term investment with limitless opportunities. Rich believes that NFTs are revolutionizing almost every industry except the media and entertainment industry. “NFTs are going to disrupt most industries—identity, ticketing, branding, music, fashion, real estate, etc. We’re still in the very early days. This is the beginning of a long-term trend.”

This article is compiled from Forbes

Author: Falon Fatemi

Original link: https://www.forbes.com/sites/falonfatemi/2022/06/23/how-nftnyc-grew-into-the-super-bowl-of-nfts-according-to-its-co-founder /?sh=37dfccd61336